Open Banking is a global movement that leverages API connectivity to transform traditional banking experiences, allowing customers to engage with financial services through various platforms rather than being confined to legacy channels. While different countries have adopted Open Banking with varying approaches, the UK pioneered its implementation in 2018, leading to significant advancements in data sharing, particularly with accountancy platforms like Sage and Xero. This shift has facilitated seamless bookkeeping and financial planning by eliminating the need for manual data handling. Despite its success in data sharing, Open Banking faces challenges in the payments sector due to performance and consistency issues, which hinder its competitiveness against established credit card systems that offer instant payment fulfillment. The technology infrastructure's reliability is crucial for Open Banking's success, with solutions from companies like Kong and OBconnect playing a vital role in enhancing the performance and security of these systems. While Open Banking promises enhanced data accessibility, innovation, and personalized financial services, its adoption is uneven across different sectors, necessitating improvements in technology to unlock its full potential.