Central Banking

Bank of Israel begins push for open banking

Regulation of APIs designed as part of several measures to promote banking sector competition

The Bank of Israel
David Vaaknin

The Bank of Israel is pushing for the launch of open banking, unveiling a project today (August 6) that will regulate an application programming interface (API) standard for banks.

The central bank describes open banking, which gives bank customers much greater control over their data, as an issue of “national importance”, forming part of a broader strategy to boost competition.

Open banking, which others such as the European Union and Australia have also been working towards, allows customers

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

FedNow – at last

The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account