<ul><li>Open banking has the potential to improve financial inclusion by providing new ways to demonstrate creditworthiness through alternative data.</li><li>Lenders can access real-time financial data to assess credit risk more accurately, enabling faster loan approvals and fairer rates for consumers.</li><li>The regulatory environment for open banking varies by region, with Europe's PSD2 directive leading the way.</li><li>Startups focusing on using alternative data sources to offer credit and financial services to underserved populations have growth potential and positive social impact.</li></ul>

Open Banking: Unlocking the Next Wave of FinTech Innovation

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