Open finance is transforming the financial services industry by driving traditional institutions to adopt a data-driven approach, offering personalized experiences, and enabling continuous innovation through technologies like Banking-as-a-Service, embedded services, and AI. These developments rely heavily on API services for data sharing, necessitating secure, compliant, and scalable data management solutions like MongoDB, which acts as an operational data store. MongoDB's flexible schema model facilitates the integration of diverse financial data types while ensuring cybersecurity and regulatory compliance, making it ideal for dynamic ecosystems. In a practical application, MongoDB supports a fictional banking platform that aggregates customer accounts, enhancing user experience through real-time data analysis and customized financial services. This framework not only benefits customers with personalized financial management but also empowers financial institutions to innovate and maintain a competitive edge. Meanwhile, MongoDB's features like aggregation pipelines, security controls, and multi-cloud support further strengthen its role in open finance, enabling efficient handling of structured and unstructured data and supporting complex data transformations.