SHIFT · GLOBAL
BIS releases prototype for cross-border open finance interoperability via Project Aperta
The Bank for International Settlements (BIS) has developed and tested a prototype 'network of networks' that connects domestic open finance ecosystems via neutral APIs, enabling cross-border data and fund flows without a single central hub.
WHY IT MATTERS
BIS-endorsed interoperability standards shape how banks integrate fintech APIs globally. A neutral cross-border layer reduces switching costs and lock-in, pressuring payment fintechs and API aggregators to commoditize. Expect faster adoption of open banking in emerging markets.
Source: Finextra · 2026-06-01