ABSTRACT
As the EU and UK are leading the path towards harmonisation of regulating open banking with a strong focus on private sector competition other countries in the Far East, such as Australia and New Zealand, have been prioritising consumer data ownership and data sharing, South Korea is concentrating on enhancing a more ‘statist’ approach to competition through centralised banks cooperation, with Taiwan, Singapore and Japan following a similar approach. Central Banks are also playing an important role in the development of open banking in Hong Kong, China and Indonesia.
