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What are top your considerations of Open Banking Strategy Execution?

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What are top your considerations of Open Banking Strategy Execution? Executing an effective Open Banking strategy requires a multi-faceted approach that encompasses technology, partnerships, compliance, and customer centricity (aka customer obsession).  A few considerations that may come into play from Bankableapi's experience: Regulatory compliance Ensure full compliance with Open Banking regulations in all relevant regions. This involves staying up-to-date with regulatory changes, adapting to new requirements, and ensuring that services align with the legal framework. Strategic partnerships Collaborate with banks, fintech companies, and other financial institutions to develop mutually beneficial partnerships. This can include providing API access, co-creating innovative solutions, and exploring new business models together. API development Build and maintain a robust set of APIs that allow secure data sharing and payment initiation. These APIs should be developer-friendly, well-d
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Bankableapi joins SAMA Open Banking Lab

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Press Release   Bankableapi joins Saudi Arabian Monetary Agency (SAMA) Open Banking Lab to Drive Financial Innovation in the Kingdom Dubai, United Arab Emirates – 14 Jan 2024 – Bankableapi, a leading open banking platform provider, today announced its participation in the Saudi Arabian Monetary Agency (SAMA) Open Banking Lab. This collaboration marks a significant step forward for Bankableapi, enabling it to contribute to the development of a robust and inclusive open banking ecosystem in Saudi Arabia. The SAMA Open Banking Lab was established in 2021 to foster innovation and collaboration within the Kingdom's financial sector. The Lab serves as a platform for FinTechs, banks, and other stakeholders to experiment with open banking technologies and develop solutions that address the needs of Saudi consumers and businesses.   We welcome Bankableapi to the SAMA Open Banking Lab - SAMA Bankableapi brings its extensive experience and expertise in open banking to the Lab. The company
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Location: Riyadh Saudi Arabia
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How can technology be leveraged to further simplify and streamline KYC/AML processes in Open Banking?

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How can technology be leveraged to streamline KYC/AML processes using Open Banking? There are a number of ways that technology can be leveraged to further simplify and streamline KYC/AML processes in Open Banking, while also reducing the risk of fraud and other financial crimes. Automated ID verification This uses a variety of data points, such as facial recognition, biometrics, and document verification, to quickly and easily verify the identity of customers. This can help to reduce the risk of fraud and identity theft, as well as the time and effort required for manual KYC/AML processes. Facial recognition This technology uses a person's facial features to identify them. It can be used to verify a person's identity by comparing their facial features to a photo or video of them. Facial recognition is becoming increasingly accurate, and it is now being used by a variety of businesses, including banks, retailers, and government agencies. Biometrics This technology uses a person&
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Location: Abu Dhabi - United Arab Emirates
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Bankableapi Joins Berlin Group’s openFinance Advisory Group & Board to Shape the Future of OpenFinance Adoption

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Press Release     Bankableapi Joins Berlin Group’s OpenFinance Advisory Group & Board, Fueling Open Banking Standardization and Monetization   Dubai, UAE – 19 Oct 2023 – Bankableapi, the leading SaaS platform for rapid Open Banking API implementation and monetization, announces its strategic partnership with the Berlin Group, joining their OpenFinance Advisory Group & Board. This collaboration aims to accelerate the standardization and adoption of Open Banking across UAE, Middle East & EU, empowering businesses to leverage its full potential. The Berlin Group, a pan-European initiative established in 2004, plays a crucial role in shaping the future of Open Banking through its collaborative efforts to define and harmonize technical standards. Their OpenFinance Framework extends beyond PSD2 regulations, enabling secure access to bank account data for innovative financial services and data-driven solutions. Bankableapi's expertise in Open Banking API integration and monet
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Location: Dubai - United Arab Emirates
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