The world of digital finance or FinTech, in other words, has made life much easier than any other period in history. You need not have to post money to your relatives in another country, nor be like early Amazon customers, where one of them had to insert the dollar bills into a floppy disk and mail it to Jeff Bezos.
With that, let’s delve into the Financial trends of 2025.
Rise in Open Banking System
In open banking, customers can authorize third-party providers to access their financial data securely. This can lead to more tailored financial products, better comparison of services, and a more transparent banking environment. It’s a major shift from traditional banking, where data is typically held and used only by the bank where a customer has an account. Further open banking also establishes and fosters innovations in the financial sector and advances the personalization of banking accounts, giving more authority to one’s account. We must have control over our banking accounts and finances to be able to achieve our financial goals and make our financial choices easier. Open banking enables us to have control over our financial accounts with safety data protocols.
