Open Banking/Open Finance Ecosystem Data Model
An overview of Platformable's data model
Open Banking: Definition
A collaborative model in which banks expose their services (via Application Programming Interfaces - APIs - or other technologies, such as open source software) to third party providers in order to create new value.
Banking customers are supported to authorise consent when securely sharing their banking account functionalities (such as the ability to make a payment) and data (such as their account balance or transaction history) with third parties directly in order to build their own, or obtain, financial and related services.
Ecosystem components
Governments
Fintech, Marketplaces, Aggregators
Fintech Associations & Financial Inclusion Advocates
Distribution Channels
End Users
API Tool Providers and Consultants
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