Innovative onboarding service in open banking - National Bank of Georgia Qorus-Infosys Finacle Banking Innovation Awards 2025

Georgia’s open banking journey began not as a standalone project, but as a strategic enabler of nationwide digitalization and a catalyst for increased competition in the financial sector. Open banking served as the foundation for building a secure, interoperable, and innovation-driven financial ecosystem. This marked the beginning of Georgia’s strategic move toward embracing open finance. — a future where financial services are more accessible, efficient, and user-centric. With the support of the National Bank of Georgia (NBG), this vision materialized into action. One of its most impactful outcomes was the launch of a remote user identification and authentication service — known as digital onboarding — based on the principle of third-party reliance. This service creates a secure, seamless, and scalable pathway for participants to access the open banking ecosystem, setting a new benchmark for digital inclusion. Onboarding, in this context, refers to the process that enables users to verify their identity once with a trusted, regulated entity and then reuse this verification across multiple service providers without repeating the process. It simplifies access, removes duplication, and ensures faster, more inclusive integration into the digital environment. The onboarding service has become cornerstone of Georgia’s open banking framework — not just as a technical solution, but as a strategic driver for building an inclusive, secure, and modern financial ecosystem.