We are moving into an interconnected world. Applications need to talk to each other to provide a complete and wholesome experience to the customers. With this trend, the Banking industry is now opening up like never before. Banks are now willing to share their customers data, in a regulated, secure and on need basis to provide an enhanced engagement experience. Open Banking, as this new order is called, is all about democratizing data with user’s consent for predetermined use cases.

Clayfin helps financial institutions to create new business models around the innovative Open Banking framework. The consent-based data sharing model has enabled the banks and financial institutions to realize the true potential of their digital banking channels. With consent-based data sharing, banks can now introduce new products in the market, which were previously infeasible.