Open banking and digital transformation in Italy: The current situation and the challenges ahead

Liliana Fratini Passi
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Liliana Fratini Passi: Managing Director, CBI, Italy

Journal of Payments Strategy & Systems, 2022, vol. 16, issue 4, 358-368

Abstract: This paper discusses the results of the Global Open Banking Report, released by CBI and PricewaterhouseCoopers in December 2021. Starting with a brief review of the current state of open banking at the global level, the paper switches focus to the European scenario and on the Italian market in particular, highlighting the disruptive nature of open banking, and its potential for significant growth. The study finds that although open banking is still in a development phase in Italy, banks and other players are constantly exploring collaborative initiatives and investing in innovative services that go beyond the traditional banking sector, marking a transition from open banking towards open finance.

Keywords: open banking; financial services; FinTech; digital payments; account information services; payment initiation services; value-added services (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2022:v:16:i:4:p:358-368

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