The session offered a comprehensive understanding of Open Banking and its implications on the banking sector and traditional finance.

Throughout the webinar, participants delved into the past and potential of Open Banking in Moldova, exploring regulatory, business, and technological aspects. Drawing inspiration from Israel’s comparable market, realistic perspectives on the challenges of Open Banking implementation were presented, covering legal, business, and technological dimensions.

The webinar offered attendees a clear picture of how the banking industry could benefit from Open Banking, showcasing a well-implemented Open Banking directive from the perspective of the Regulator. Sub-topics covered included the definition and global trends of Open Banking, an overview of Open Banking in Israel, assessing the potential of Open Banking in Moldova, examining the regulatory environment, and addressing challenges in implementation such as technological hurdles, security and privacy concerns, and building trust with consumers. Opportunities for financial institutions were explored, including potential partnerships, improved customer experience, and leveraging data for personalized services.

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