МОЖЛИВОСТІ ТА ПЕРЕВАГИ ВПРОВАДЖЕННЯ ВІДКРИТОГО БАНКІНГУ
THE OPPORTUNITIES AND BENEFITS OF OPEN BANKING IMPLEMENTATION

Summary/Abstract: The technological innovations help to improve and develop online payments, including digital wallets, P2P payments, and e-commerce payments through the existing e-banking infrastructure. Privacy issues prevent data owners from sharing and exchanging data outside their institutions for fear of fraud and abuse. Open banking can help maximize customer benefits through data sharing and deeper collaboration between financial institutions. All companies providing payment services in the European Economic Area must comply with the PSD2 account access requirements. PD2 regulates that third-party PSPs have the right to access a payment account held with banks to provide account information services and/or payment initiation services. To do this, banks must provide a secure and open interface for third-party payment systems for account access, reporting, and payment initiation. In light of the update of the European Commission's Payment Services Directive, which aims to improve competition and boost economic activity by facilitating and encouraging bank account holders to send their account data in a controlled and secure manner, there is a problem with customers' lack of awareness, benefits and security in the implementation of operations on the principles of open banking. This article is devoted to the study of Open Banking, as a concept, its economic nature, prerequisites, opportunities and risks of implementation as a new way to use payment services, introduced by the Directive. The research contributes to the development of open banking technology and solves the problem raised in the work – customer trust in it, which determines the success of its implementation and development of such a business model.

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