Opportunities and challenges of open banking in South Africa

Date
2022
Authors
Dreyer, Tanya
Journal Title
Journal ISSN
Volume Title
Publisher
University of the Witwatersrand, Johannesburg
Abstract
There is much hype and speculation around the potential of open banking to increase financial inclusion and competition among incumbent banks in developed and developing economies (Plaitakis & Staschen, 2020 and Zeller & Dahdal, 2021). Mastercard has gone so far as to call it “the most transformational trend in banking since digitization” (Mastercard, 2020). The purpose of this study is therefore to assess the challenges and opportunities of implementing open banking in South Africa as well as potential frameworks for implementation. Further as the existing knowledge base for open banking is globally limited and predominantly focussed on developed economies, it is vital to publish information from the perspective of an emerging economy that is also one of the largest economies in Africa.
Description
A research report submitted in partial fulfilment of the requirements for the degree of Master of Management in the field of Digital Business to the Faculty of Commerce, Law and Management, University of the Witwatersrand, 2022
Keywords
South Africa, API, Data, Disruptive Innovation, Financial Inclusion, Financial Service Provider, Fintech, Open banking, Regulation, South Africa
Citation
Dreyer, Tanya. (2022). Opportunities and challenges of open banking in South Africa [Master’s dissertation, University of the Witwatersrand, Johannesburg]. WireDSpace.https://hdl.handle.net/10539/34666