Financial services Digital July 23, 2021Regulators worldwide have encouraged open banking. The UK regulator has gone furthest; as a result, as of December 2020, the UK had issued some 200 licenses for open-banking APIs, or application programming interfaces—shortcuts that make it easier for software developers to build new applications. EU countries, which were initially less directive about API specifications for developers, have not issued licenses at the same pace. Exhibit 3 We strive to provide individuals with disabilities equal access to our website. If you would like information about this content we will be happy to work with you. Please email us at: McKinsey_Website_Accessibility@mckinsey.com To read the article, see “Financial services unchained: the ongoing rise of open financial data,” July 11, 2021.