Open Banking: Digital Innovation in Banking Service in India

Abstract

From the use of electronics to automation of many processes in the banking sector, people are now moving toward innovations. These innovations can be termed as disruptive technologies which are changing the whole structure of banking sector all over the world. The paper gives information about some of the technologies innovated and the future technologies that can be innovated for the banking sector. The Open Banking Platform Innovation will be discussed in detail in the research paper. Also its advantage and disadvantages will be discussed with the solutions and the road ahead for the banking sector. Keywords: Innovation, Bank, Technology change, IT Management