Trends Report

The State Of Open Banking In Japan

Japanese Banks Need To Clarify Their Role In An Open Banking Future

September 24th, 2020
Meng Liu, Senior Analyst
Meng Liu Senior Analyst
With contributors:
Frederic Giron , Han Bao , Bill Nagel

Summary

Japan is adopting an organic approach to open banking. Although it’s not mandatory, leading Japanese banks and financial technology (fintech) firms have started experimenting with APIs to build partnerships and participate in digital ecosystems. As an open banking future becomes imminent, we expect to see customers demand more access to and control over their data. Digital business professionals should read this report to understand what banks and other industry players should do to leverage the open banking opportunity in Japan.

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