Summary
Open finance continues to move well beyond payments into areas like financial advisory, personal wealth management, and recurring billing infrastructure, with the most notable developments from the first quarter of 2025 spanning multiple markets. The pace of innovation reflects how open banking application programming interfaces are becoming foundational infrastructure rather than a niche compliance requirement.
In New Zealand, a new data integration tool built on open banking rails aims to help financial advisors manage larger client volumes with real-time access to financial data, addressing a market where digital advice adoption remains limited. In India, a new personal finance platform built on the country's Account Aggregator framework consolidates banking, mutual fund, and equity data into a single consent-based interface, reflecting how quickly account aggregation infrastructure is maturing. Elsewhere, a New Zealand bank has partnered with a local fintech to modernise recurring payments using the latest open banking standard for billing.
Together, these developments point to open finance infrastructure being put to increasingly sophisticated use across advisory, personal finance management, and payments.
- Financial advisory digitisation built on open banking data access in New Zealand
- Account Aggregator-based personal finance consolidation in India
How is open banking infrastructure being repurposed for use cases well beyond its original payments mandate?
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