The May 2022 Aite-Novarica report Open Banking, Open Finance, Open Economy: The New Identity of Finance by Ron van Wezel and John Horn examines the shift from open banking to a broader open economy driven by customer demand, API adoption, and data ownership regulations. It explores global developments, business models, and use cases in retail payments, embedded finance, and open payments. The report emphasizes secure data access, customer identity as a strategic enabler, and opportunities for financial institutions to innovate and adapt in an increasingly interconnected digital financial ecosystem.

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