Masterclass: Economics & Strategy of Open Banking by Dr. Markos Zachariadis

Economics & Strategy of Open Banking

The talk will share recent findings from ongoing research conducted at the Alliance Manchester Business School and the Centre for Financial Technology Studies (CFTS) at the University of Manchester regarding the response to open banking regulation in the UK and across the European Union. Firstly, by exploring the fundamental properties and various applications of open application programming interfaces (APIs) mentioned in extant literature, the presentation will articulate what are the relevant theories that give rise to the new organisational structures and platform business models we observe in the digital age. Understanding such phenomena will help us anticipate, and in some ways predict, the implications of public APIs’ adoption in the financial services sector. The talk will also share some of our findings around the key challenges and opportunities that open APIs pose for the banking sector in the UK and the EU following the introduction of the Open Banking Working Group (OBWG) and Second Payments Services Directive (PSD2) regulatory frameworks.