1.2 Why is Open Banking Happening

We investigate the drivers for Open Banking and who are the beneficiaries. We look at the enabling environmentand the changing nature of supply chains in the digital economy. We suggest that Open Banking is how banks willconnect to, and participate in, emerging digital commerce ecosystems. What is the risk to the banks if they declineto participate, and why are some banks resisting the change? What are the benefits and outcomes that OpenBanking is expected to deliver?