Open Banking is revolutionizing the financial sector by enabling secure sharing of banking data through APIs. In Morocco, this transformation opens new opportunities for financial institutions and fintechs.
What is Open Banking?
Open Banking allows authorized third parties to access a customer's banking data (with their explicit consent) to offer innovative services: account aggregation, comparators, personalized financial advice, payment initiation.
Moroccan Regulatory Framework
Bank Al-Maghrib is preparing the ground for Open Banking with directives on data security and interoperability. Banks must anticipate these developments to remain competitive against neo-banks and fintechs.
UX Challenges for Open Banking
User experience is crucial for Open Banking adoption. Users must understand:
- What data is shared and why
- With whom it is shared
- How to revoke consent at any time
- What benefits they get from it
Designing the Consent Journey
The moment of consent request is critical. Adopt these best practices:
- Clear and accessible language, without technical jargon
- Granular consent (choose which data to share)
- Transparency on access duration
- Simple and visible revocation process
- Strong authentication without friction (biometrics, OTP)
Security and Trust
Security is users' primary concern. To inspire trust:
- Clearly display your certifications and compliance
- Use OAuth 2.0 and OpenID Connect for authentication
- Encrypt all communications (TLS 1.3)
- Implement real-time access monitoring
- Offer notifications for each new access
Opportunities for Moroccan Banks
Open Banking is not just a regulatory constraint, it's an opportunity to:
- Monetize your APIs by becoming a data provider
- Enrich your offering by consuming third-party APIs
- Attract young and digital clientele
- Reduce acquisition costs through partnerships
- Innovate faster through ecosystems
Concrete Use Cases
Here are examples of Open Banking applications that work internationally:
- Multi-bank aggregators for a consolidated view of assets
- Intelligent budget applications based on transaction analysis
- Instant credit services based on banking history
- Inter-bank payments without bank cards
- Automated accounting tools for SMEs
Conclusion
Open Banking is redefining the relationship between banks and customers. Institutions that invest in seamless, secure and user-centered experiences will gain the advantage. Our team supports Moroccan banks in this transformation.
Need Open Banking Expertise?
Our VOID team can help you design and implement your Open Banking strategy. We work on:
- UX/UI for consent and authentication flows
- API design (OAuth 2.0, OpenID Connect, REST)
- Security and regulatory compliance
- Integration with banking core systems
Additional Resources
- Open Banking Morocco: our expertise in open banking
- Digital Banking Morocco: digital banking solutions
- All our publications: tech guides and news
Article published on September 28, 2025. Open Banking guide for Moroccan financial institutions and fintechs.