Open Banking has revolutionized the financial industry by allowing customers to share their data with third-party providers, leading to the growth of FinTech and the development of new financial solutions and infrastructure. This movement, characterized by banks offering API access to customer financial data, has resulted in significant data generation and demand for secure data access. Despite its benefits, such as improved financial decision-making and portfolio visibility, adoption is hindered by trust issues, with many consumers wary of data security. To enhance trust and facilitate Open Banking's success, banks must implement secure, scalable digital architectures with API-driven platforms and AI analytics, reducing fraud risks and ensuring compliance with regulatory requirements. Companies like Elastic are aiding this transition by offering observability and security features that enhance fraud prevention and analytics, helping financial institutions navigate the complexities of Open Banking while maintaining customer trust.