Alongside investment in digital public infrastructure, and ongoing efforts to reach the 1.4 billion people globally who still do not have access to a basic transaction account, open finance can be the next frontier for the growth of the financial services industry. 

Open finance is a financial innovation that facilitates the sharing of customer data - with the customer's consent - in order to provide new and improved financial services. This guide provides a curated list of key publications on open finance.

Open finance frameworks have the potential to increase innovation, boost competition, empower customers, and deepen financial inclusion. However, they also introduce new risks that necessitate careful design and robust safeguards. As more countries explore or implement these frameworks, this research offer key considerations for designing effective and inclusive open finance frameworks.

This policy brief offers an up-to-date review of the emerging academic literature on the economics of data sharing and access to credit.

These companion reports analyze the current state of data exchange in four leading markets highlighting their innovative approaches and the practical challenges they face during implementation.

The objective of this study is to explore how to facilitate data-driven financing by consolidating fragmented farmer data into a centralized platform.

This paper identifies five ways in which data trails are being leveraged by private sector actors, including insurance carriers and technology providers, to offer “inclusive insurance” for low-income and other excluded segments, such as rural small-holder farmers and gig workers.

This technical guide introduces the open finance self-assessment tool and development roadmap. It provides practical tools for policymakers to use to decide whether to implement an open finance regime to advance financial inclusion.

As part of the #FinEquity2024 Annual Meeting blog series, we reflect on key takeaways from FinEquity Africa 2024 Convening, the first Convening for the FinEquity Africa Community of Practice.

This working paper introduces the concept of an inclusive data ecosystem as one where low-income people’s data trails are used to improve their financial inclusion.