Open finance is now a new paradigm in the financial industry. It has evolved in the past decade from open banking to new revenue models. 

It enables seamless connections between banks and third-party service providers through Application Programming Interfaces (APIs) to effectively build, operate, and deliver products and services that serve customer needs.

The global growth of open finance has resulted multiple growth opportunities for the banks, but what does it actually mean? Let us find out what they are by taking this fundamentals quiz!

About the open finance quiz

• 5 questions in 3 minutes
• Regardless of your knowledge about this topic, this quiz is still for you
• Insights at the end of each question
• At the end of the quiz, click on “Submit” to get your final score.

Click here to learn more about the global state of open finance, through our recent report on the platform!

Take another interesting quiz on open finance here: How can banks unlock growth with open finance?