SPA-27 – 4-Module Open Banking Online Course

Open Banking Technology, Services, Security and Legal Implications

America’s payment experts – Secure Payments Academy is pleased to bring you a 4-module online training course for Open Banking to cover technology, services and regulatory requirements.

This comprehensive online training course provides a deep dive into the world of Open Banking, designed to equip professionals with the knowledge and skills required to navigate and leverage this transformative financial innovation. Over four modules, participants will explore the fundamental concepts, technical aspects, business implications, and future trends of Open Banking. Through a blend of interactive content, practical exercises, and real-world case studies, learners will gain a robust understanding of how Open Banking is reshaping the financial landscape.

Online attendees will be introduced to the structure of the digital world for Open banking and its relationship with FinTech. Primary role of Open Banking is to enable consumers to select services they need for their financial use. The Open Banking services vary and once selected, provide a secure interface at a faster delivery rate than classic banking systems. FinTech services by third party providers interface to the core Open Banking system through a well defined API interface.

An important part of the Open Banking environment is compliance with regulatory requirements. Open Banking introduces a new paradigm in the financial services industry by promoting greater transparency, competition, and innovation. However, it also brings significant regulatory and compliance challenges that must be addressed to ensure security, privacy, and consumer protection.

Learning Outcomes

By the end of this course delegates will be able to:

  • Evaluate Open Banking principles and practices
  • Describe technical features of Open Banking systems
  • Explain typical Open Banking use cases
  • Analyze options for implementation and management of Open Banking solutions
  • Differentiate the regulatory requirements and their related compliance needs in various jurisdictions.

 Who Should Attend:

This 4-module Open Banking training course is designed for a diverse audience that includes professionals and stakeholders from various sectors within the financial services industry and related fields. The following individuals would benefit from attending:

  • Banking and Financial Services Professionals
  • Technology and IT Professionals
  • FinTech Entrepreneurs and Startups
  • Regulatory and Compliance Officers
  • Consultants and Advisors
  • Academia and Research
  • Government and Regulatory Bodies
  • Others, such as Customer Experience Managers, Marketing and Investors Professionals

Course Content

This agenda ensures a comprehensive and engaging exploration of Open Banking, balancing theoretical knowledge with practical applications.

Module 1: Introduction to Open Banking

Lesson 1.1: Understanding Open Banking

  • Definition and Key Concepts
  • Historical Context and Evolution
  • Regulatory Frameworks (e.g., PSD2 in Europe, OBIE in the UK)
  • Key Stakeholders (banks, fintech companies, regulators, customers)

Lesson 1.2: Open Banking Ecosystem

  • Overview of the Open Banking Landscape
  • Role of APIs in Open Banking
  • Examples of Open Banking Initiatives Worldwide
  • Case Studies of Early Implementations

Module 2: Technical Aspects of Open Banking

Lesson 2.1: API Fundamentals

  • What is an API?
  • Types of APIs (RESTful, SOAP, etc.)
  • API Security Protocols (OAuth, OpenID Connect)

Lesson 2.2: Open Banking APIs

  • How Open Banking APIs Work
  • Common API Endpoints in Open Banking
  • Data Standards and Formats (JSON, XML)
  • API Management and Monitoring

Module 3: Business and Operational Implications

Lesson 3.1: Business Models in Open Banking

  • Traditional vs. Open Banking Models
  • Revenue Streams in Open Banking
  • Impact on Customer Experience and Engagement
  • Opportunities for Innovation

Lesson 3.2: Operational Challenges and Risks

  • Data Privacy and Security Concerns
  • Managing Customer Consent and Authentication
  • Risk Management and Compliance
  • Mitigating Fraud and Cybersecurity Threats

Module 4: Future Trends and Innovations in Open Banking

Lesson 4.1: Emerging Technologies

  • Role of AI and Machine Learning in Open Banking
  • Blockchain and Distributed Ledger Technologies
  • Open Banking and Internet of Things (IoT)

Lesson 4.2: Future Directions

  • Predictions for the Future of Open Banking
  • Potential Regulatory Changes and Their Impact
  • How to Stay Ahead in the Open Banking Space
  • Preparing for a Seamless Transition to Open Finance

SPA-27 – 4-Module Open Banking training, is brought to you by Secure Payments Academy, America’s Payments Experts and led by skilled instructors with more than 3 decades of technical, systems and business case experience in payments systems and technologies. This course is a deep dive guide into “How to bring the established banking services into the new Open Banking age”.

This training course is designed to be given online with live presenters, or for in-class presentation with our expert trainers. For online, the content is delivered in two consecutive days – 2 modules per day, or in one full day. For in-class presentation, this is a one-day course.

Students will receive a copy of the course material and completion certificate at the conclusion of this course. For more information about our upcoming schedule, visit the Workshop Schedule.

To contact us please go to Contact.