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Session 2 – Open – Challenger finance – What’s the shake up?

The role of Open Finance has the potential to help accelerate this even further. One of the major challenges businesses face in providing services to consumers is obtaining a clearer view of a person’s financial status, especially when data about a consumer sits everywhere. Open banking is just the first step towards a bigger movement around Open Finance – the intersection of data and payments. What does Open Finance hold for the future and what needs to happen to make this a reality? Besides, the rise of challenger finance in Australia and internationally has given way to a boom in fintech businesses and solutions. Challenger banks have led innovation and digital transformation for the past few years.

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