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Sylien Kesteleyn

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SYLIEN KESTELEYN
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T + 32 9 210 97 02 

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    The European regulations on open banking, which will enter into force on 14 September, will not cause any big bang on the Belgian financial market. Customers must first become aware of the many benefits that open banking has to offer. What is more, the law is limited to current accounts and payments. What is certain, however, is that open banking can drastically reconfigure the landscape of the financial sector. There are already indications that the hitherto relatively closed banks with a dominant market position are beginning to transform into open ecosystem players that embrace digital innovation. This is shown in a survey conducted by Vlerick Business School among various experts in the Belgian financial sector and elsewhere.
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