MANAMA: Streamlined lending, automated accounting, and new payment methods are set to transform Bahrain’s financial sector in the wake of widespread open banking adoption, according to an expert.
Describing open banking as “a big step for banks, regulators, and third-party providers”, India-based software major Tata Consultancy Services (TCS) vice-president and regional head for Middle East, Africa, and Mediterranean Sumanta Roy told the GDN in an exclusive interview that the trend would develop the local ecosystem to encourage innovation in banking .
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