[Flourish Conversations] How Adopting Open Data for Finance Could Boost Economic Growth in 10 Years

Open data allows access to and sharing of consumer-approved financial data across financial organizations, creating a digital ecosystem for financial institutions and consumers. Once created, this digital ecosystem provides new opportunities for governments, businesses and entrepreneurs to easily build new data-driven products for the benefit of consumers and small businesses.

To uncover the effects of open data for finance within different economies around the world – the U.S., U.K., Europe, and India – Flourish Ventures partnered with McKinsey & Company in joint research on open data for finance over the next decade. The McKinsey Global Institute is now publishing a paper based on this research. Key findings revealed:

Join Flourish Ventures Director Kabir Kumar and Olivia White, Senior Partner at McKinsey & Company, as they dig into these research findings and discuss:

  • The advantages of sharing open financial data across financial institutions for both financial institutions and the consumer
  • Efficiencies that are driving considerable value such as boosting the economy in 2030
  • Effects on advanced economies such as the US, UK and Europe as well as emerging ones like  India
  • What it takes to capture the full value of open data for finance

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