Open banking, a transformative trend in the financial industry, is driving transparency, collaboration, and innovation by allowing financial institutions to share customer data with third-party providers to enhance customer experiences and develop innovative fintech solutions. This shift is rapidly increasing the adoption of open banking services, predicted to grow from 24.7 million users in 2020 to 132.2 million by 2024, fostering competition and partnerships between traditional banks and fintech firms. MongoDB plays a crucial role in supporting open banking by providing secure, scalable, and flexible infrastructure for managing shared customer data, thereby enabling financial institutions to lower costs, improve customer experiences, and comply with regulatory standards. MongoDB's modern database capabilities, including JSON data format support, flexible schema, and robust security features, address the challenges faced by financial institutions in the open banking landscape, ensuring performance, scalability, availability, and data privacy. This empowers banks and third-party providers to rapidly develop and deploy new features, providing innovative solutions and exceptional customer experiences in the evolving open banking ecosystem.