Abstract
The creation of an open financial data ecosystem is a new frontier to be explored within a financial services industry characterized by the presence of new players, along with traditional financial intermediaries. Spurred by datafication and digitisation, open finance is considered an extension of the open banking foundation launched in Europe through targeted regulation. The open finance journey is just beginning. By taking stock of the open banking experience across jurisdictions, this article examines the future shift from open banking to open finance. Selected critical issues within the open banking context give valuable indications for the development of open finance. Open finance, datafication, digitisation, open banking, APIs, PSD2, Consumer Data Right, reciprocity, consumer education
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