Future trends in the development of open banking

Open banking represents an innovative banking model that enables financial services to be delivered through digital platforms, facilitating direct communication with third-party organizations via application programming interfaces (APIs). This model not only transforms traditional banking operations but also offers significant benefits to consumers, such as enhanced transparency and improved user experiences. This study explores the advantages, challenges, and future development trends of open banking in Vietnam, providing a comprehensive analysis of its potential to reshape the financial services landscape in the country.