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How Open Banking Mitigates Financial Crime

Published on
September 10, 2024
Updated on
September 12, 2024
Leen Shami
Senior Content Marketing Manager
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Guides

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The whitepaper explores the pivotal role of Open Banking in safeguarding Saudi Arabia’s financial landscape. It outlines how Open Banking solutions mitigate key financial crimes, including fraud, money laundering, and cyber threats. By leveraging secure APIs, real-time data sharing, and customer authentication processes, Open Banking not only strengthens security but also promotes innovation and financial inclusion. The paper includes global case studies, practical applications for the KSA market, and best practices for building a secure Open Banking ecosystem.

Key Takeaways:

  • Fraud prevention through secure customer data sharing
  • Anti-Money Laundering (AML) compliance and its impact
  • Strengthening cybersecurity with real-time data access
  • Unlocking new financial use cases and expanding inclusion

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