Management and Access Control Framework for Open Banking Eco System by using Block Chain Technology

Abstract

Open banking is a new data-sharing paradigm that may help new firms get rapid loan approvals and higher investment returns. Most clients are hesitant to embrace open banking because they fear sharing data with third-party suppliers. This research work has presented a blockchain-based self-sovereign identification system architecture for open banking. The proposed architecture offers a secure communication network between users and third-party service providers and let individuals manage their identities and data. Comparing the BBM model to current work shows and analyses its advantages.