Open Banking Essentials

The Open Banking Essentials course is a self-paced, introductory program covering the basics of open banking. You’ll gain an understanding of open banking, its various use cases, and the types of data access methods. Explore the key global markets for open banking and understand the distinct position of the US within this ecosystem. Additionally, you'll become familiar with essential open banking terminology and grasp the general flow of open banking payments. By the end of the course, you'll understand the benefits of open banking for both consumers and merchants.

Who Should Enroll?

• Payment professionals seeking to understand how open banking can enhance their operations.
• Banking and financial services professionals who need to keep up with the latest trends in digital banking.
• Regulatory and compliance officers responsible for ensuring that financial operations comply with emerging regulations and standards in the open banking ecosystem.
• Data Security and privacy specialists requiring an understanding of the security implications of different data access methods in open banking.
• This course may also benefit financial technology (FinTech) innovators, customer experience managers in financial services, and IT and technical professionals in banking.

Learning Objectives

• Define open banking
• Understand use cases of open banking
• Identify types of data access methods
• Understand the key differences between data access methods, including security considerations
• Understand the regulatory vs market-driven approach
• Define the key markets globally and the different market approaches
• Explain the unique position of the US in the open banking ecosystem.
• Define open banking key terms
• Understand the general open banking payments flow
• Understand the benefits of open banking for both consumers and merchants

Program Details

• Program Level: Basic
• Program Field of Study: Specialized Knowledge
• Program Delivery Method: QAS Self Study
• CPE Credits: 1.2
• Advanced Preparation and/or Pre-requisites: None
• Pricing: USD $150 (plus applicable taxes) | MRC Members receive a 50% discount on all eLearning courses.

Please allow approx. 1.5 hours to complete this course. The course culminates with a comprehensive final assessment to evaluate the user's comprehension of the material. Upon successfully completing the final assessment, participants will be awarded a certificate of completion and CPE credits representing their proficiency in the subject matter.

CPE credits can be applied toward industry certifications such as the Certified Payments and Fraud Prevention Professional (CPFPP) and the Certified Fraud Examiners (CFE).