In March 2021, the Central Bank of Israel will go live with the first of three defined phases to bring digital banking and payments innovation into the Israeli Market with the implementation of Account Information.
This will be followed in October 2021 with Credit Card and Payments capability. Open Banking has been live in Europe since January 2018, and Consult Hyperion has helped over 20 organisations prepare their strategies and launch plans. In many markets, the younger generation customer has rapidly embraced the change that open banking regulation has enabled, and the competitive landscape has developed rapidly. Rather than a threat, Open Banking ushers in new opportunities, and the Poland and Nordic markets have seen some of the greatest successes.