Open Data: Secure,
Scalable & Future-Ready
“Building the Future of Financial Services with Open Data”
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Financial institutions today are facing a significant shift. Regulatory frameworks are evolving, customer expectations are rising, and the ability to securely share and leverage financial data has become a competitive necessity. Open Data is no longer just a regulatory requirement - it’s a fundamental enabler of innovation, customer engagement, and operational efficiency.
At Caspian One, we don’t just implement Open Data solutions - we help financial institutions build, run, and scale their own Open Data ecosystems. From global banks to leading credit unions, we empower organisations to take control of their data, enhance digital experiences, and unlock new revenue opportunities.
Why Open Data? Why Now?
There was a time when financial institutions could afford to take a “wait and see” approach to industry change. That time has passed. Open Data isn’t some hypothetical future - it’s here, and the institutions that embrace it now will be the ones shaping financial services for the next decade.
Let’s be clear: this isn’t just about compliance. It’s about control. About ownership. About not outsourcing your future to third-party aggregators but instead creating direct, secure, and scalable data-sharing frameworks that work on your terms. The alternatives? Paying for access to your own customer data, relying on intermediaries to do what should be core business, or watching as more agile competitors build the partnerships and services that your customers will eventually expect from you.
Governments have already laid the groundwork. Canada is implementing its Consumer-Driven Banking framework. The U.S. finalised its Section 1033 rule, setting enforceable standards for customer-directed data sharing. The UK’s Open Banking success has given way to Open Finance, and in Europe, PSD2 is evolving into a broader financial data-sharing framework. This isn’t regulation creeping in - it’s governments catching up to the market.
The market? It’s moving. Financial services customers - whether retail or corporate - expect seamless, intuitive digital experiences. They want control over their financial data, they expect personalised services, and they aren’t willing to wait. Look at the numbers: over half of FinTechs now offer Open Banking-powered payments, and by 2030, open-data ecosystems could contribute over a trillion dollars in economic value worldwide.
So, the real question isn’t whether Open Data is happening. It’s whether your institution is in the driver’s seat - or waiting to see who overtakes you.
Key Drivers Shaping the Future of Open Data:
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Canada: The federal budget has committed to Open Data implementation, with a full governance framework expected by 2025
United States: The Consumer Financial Protection Bureau (CFPB) finalised its Section 1033 rule, granting consumers legal rights to access and share their financial data, increasing competition among 4,000+ lenders
United Kingdom & European Union: The UK’s Open Banking model has matured into Open Finance, while the EU is transitioning from PSD2 to PSD3, broadening data-sharing regulations across financial services
Australia: The Consumer Data Right (CDR) is operational, expanding Open Data beyond banking into energy, telecommunications, and other sectors
Global Adoption: As of 2024, over 60 jurisdictions have implemented Open Banking frameworks, reflecting a worldwide shift towards standardised financial data-sharing models
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Digital Engagement: According to FinExtra, 73% of global banking interactions now occur digitally, underscoring the need for seamless, integrated financial experiences
Open Banking Usage: Over 10 million consumers and businesses in the UK actively use Open Banking-powered services, showcasing strong adoption in established markets
North American Growth: Open Data adoption is accelerating across the U.S. and Canada, signalling a wider global shift toward data-driven financial ecosystems
Customer Behaviour: A Morning Consult survey for the American Bankers Association found that 55% of bank customers use mobile banking, 22% use online banking, and just 8% visit physical branches
Demand for Personalisation: 80% of consumers now expect tailored financial services, reinforcing the need for institutions to leverage Open Data for deeper customer insights and engagement
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Economic Value: McKinsey & Company estimates that Open Data-driven financial services could contribute over $1 trillion to the global economy by 2030
Cost Reduction: Financial institutions leveraging Open Data have reported up to 40% reductions in operational costs and 50% faster time-to-market for new services
Operational Benefits: Direct, point-to-point Open Data sharing reduces reliance on aggregators, lowers transaction costs, and accelerates customer onboarding
Competitive Advantage: Institutions that take control of their data pipelines today will shape the future of financial services - those that don’t will be forced to rely on third-party intermediaries at rising costs
Milestones:
Selected by Canada’s Largest Credit Unions
After a competitive RFP process, the Large Credit Union Coalition (LCUC) selected Caspian One as their preferred Open Data partner. This strategic decision led to the onboarding of major institutions, including Meridian, Libro, Affinity, First West, and Prospera - positioning Caspian One at the heart of Canada’s Open Data movement. By creating a shared ecosystem tailored to credit unions, we’re enabling innovation, cost efficiencies, and a future-proof approach to Open Data adoption.
Milestones:
Breaking New Ground in the U.S. Market
In 2024, Caspian One officially expanded into the U.S. to support financial institutions preparing for Section 1033 implementation and the rise of Open Data frameworks. Our partnerships with major North American financial institutions and technology leaders have positioned us at the forefront of regulatory readiness and real-world adoption. With key proof-of-concept deployments underway, we’re actively shaping how U.S. banks, credit unions, and fintechs build direct, secure, and scalable data-sharing ecosystems that align with both regulatory requirements and market expectations.
Milestones:
Alliance with DXC Luxoft
Caspian One’s partnership with DXC Luxoft marks a significant step in scaling Open Data adoption globally. By combining our expertise in secure, federated Open Data frameworks with Luxoft’s deep experience in implementation and managed services, we enable financial institutions of all sizes to deploy Open Data at speed and scale. This collaboration ensures that banks and credit unions can rapidly integrate Open Data solutions, maintain regulatory compliance, and drive new revenue opportunities without the complexity of building from scratch.
Milestones:
Enterprise-Grade Open Data Solutions
In 2024, we launched Caspian Nexus - a next-generation Open Data platform designed for seamless integration into existing financial infrastructure. Nexus provides financial institutions with scalable, cloud-powered connectivity, offering direct, secure data exchange without reliance on aggregators. Whether a credit union looking to enhance member services or a large financial institution scaling Open Data initiatives, Nexus delivers the flexibility, security, and control needed to drive real transformation.
Milestones:
Industry Recognition & Thought Leadership
Caspian One continues to shape the global Open Data landscape, from speaking at AWS re:INVENT to leading regulatory discussions that influence policy and industry standards. Our thought leadership spans North America and beyond, helping financial institutions understand the implications, opportunities, and strategic decisions required in an Open Data world. Through deep industry engagement, we ensure our clients stay ahead of evolving regulations and market expectations - positioning them as leaders, not followers, in this transformation.
Caspian One delivers enterprise-ready Open Data solutions designed for security, flexibility, and scalability. Whether you’re a credit union, community bank, or global financial institution, our platform supports your Open Data strategy at every stage.
Evolve: Open Data for Credit Unions & Community Banks
Caspian Evolve is a purpose-built Open Data solution designed to empower credit unions and community banks with the tools they need to participate in the Open Data economy.
Built for Credit Unions – Tailored to meet the unique needs of credit unions and their members, ensuring security, compliance, and seamless integration
Cost-Effective & Scalable – A shared ecosystem approach that reduces costs while enabling rapid innovation and digital transformation
Enhancing Member Experience – Enable personalised financial services, embedded finance, and fintech partnerships to drive growth and engagement
Nexus: Enterprise-Grade Open Data for Large Financial Institutions
For large banks and financial institutions, Caspian Nexus provides a federated, scalable Open Data infrastructure designed for performance and security at scale.
Enterprise Integration – Seamlessly integrates with existing banking infrastructure to enable data sharing, consent management, and regulatory compliance
AI & Machine Learning-Driven Insights – Unlock new revenue streams by harnessing financial data for intelligent automation and predictive analytics
Secure, Direct Data Access – Built on an API-first, cloud-native framework, reducing reliance on aggregators and third-party intermediaries
Ecosystem Manager: The Future of Open Data Connectivity
At the core of Caspian One’s Open Data offering is our Ecosystem Manager, providing the connectivity, governance, and control needed to operate in the Open Data landscape.
Registry & Bilateral Agreements – Manage multiple secure data-sharing agreements in one platform, ensuring compliance and scalability
Data Provider & Data Recipient Capabilities – Institutions can control data access, enforce security policies, and monetise financial data while ensuring interoperability across partners
Future-Ready Architecture – Built for evolving regulatory frameworks and emerging Open Data use cases, from embedded finance to AI-powered financial services
Why Caspian One?
Caspian One isn’t just another technology provider - we’re a trusted Open Data partner to financial institutions worldwide, helping them navigate the complexities of data ownership, regulatory compliance, and digital transformation.
With over 20 years of experience in financial technology and a track record of delivering industry-first Open Data solutions, we don’t just respond to change - we help shape it.
A Legacy of Leadership in Open Data
We have been at the forefront of Open Data long before it became a regulatory requirement. From advising on global Open Banking standards to leading some of the first large-scale implementations in North America and Europe, we’ve helped institutions turn compliance into competitive advantage.
A Partner, Not Just a Provider
At Caspian One, we go beyond technology - we work side by side with financial institutions to design tailored strategies, navigate regulatory shifts, and future-proof their approach to Open Data. Our expertise isn’t just in the tech - it’s in helping organisations rethink their data strategy, build new revenue models, and stay ahead of the market.
Proven at Scale, Built for the Future
Our technology powers some of the most significant Open Data ecosystems in financial services today. Whether it’s enabling Canada’s largest credit unions, driving enterprise-scale deployments with tier-one banks, or partnering with fintech leaders, we have a track record of delivering secure, scalable, and high-performance Open Data solutions that integrate seamlessly into existing infrastructure.
Let’s Talk Open Data
Whether you’re navigating new regulations, exploring Open Data opportunities, or looking to take control of your data strategy, we’re here to help.
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Explore the latest Open Data updates, industry insights, and thought leadership at Caspian Evolve
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