What is the difference between Open Banking and digital banking?

22 Apr 2022 By PAYCEC

Digital banking is a banking business model.

Consumers today do not want to wait in a bank line.

They expect banking to be available on their terms, when and where they need it. This is made possible via digital banking.

Open Banking refers to a banking practice between financial institutions.

Open Banking is a system that allows third-party applications to access and control banking and financial accounts.

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