About the Open Banking Working Group
The OBWG is an association created by industry leaders from around the world that have created a regional working group where we share insights, solutions, successes as well as failures that become a repository of knowledge for Open Banking in the SE Asia region via regular workshops, events, hackathons and projects.
Open access to personal information data is transforming the banking and financial services sector, and beyond. Forward-thinking firms are now reviewing their traditional models and all relationships in their value chains.
For leading financial brands to stay relevant and ahead of the curve, it is very important that they position themselves early on as progressive and collaborative. Banks doing this are strongly positioning themselves with their customer base, while also positioning themselves in the new ecosystem to attract talent, establish partnerships and create platforms they can monetise.
Open Banking will impact insurance firms too. Access to customer transactional data will significantly improve the accuracy of assessing customer risk profiles, and allow for increased customisation of insurance products and premiums.
Open Banking can also help solve regional problems by helping to increase financial and social inclusion. A large part of the Open Banking Working Group will be about creating solutions to deliver financial services to all.
Become a member and/or join us at our next event and be part of the Open Banking Working Group - SE Asia.
Integrity - Always acting to support the OBWG’s objectives and in the public interest.
Inclusive and collaborative - Involving all key stakeholders including government/ regulators, NGOs, financial institutions, big tech firms, fintechs, professional services providers, investors, academia and other related parties.
Open and transparent - Aiming to develop and share best practices both within and beyond those involved. As part of this, we will bring into the working group industry experts who have implemented Open Banking in other markets, to share their insights, use cases, success stories and lessons learned, in order to help shape the strategies in SE Asia.
Purpose-driven - Aiming to deliver concrete actions and benefits.
Not-for-profit - An annual membership is required to cover the costs, including events, workshops and other initiatives, but any surplus will be reinvested into supporting the OBWG’s objectives.