Anndy Lian: “Opening Banking is good. Defi is better. It can fill up the existing financial gaps.”

Anndy Lian: “Opening Banking is good. Defi is better. It can fill up the existing financial gaps.”

The modern-day, tech-savvy consumers’ demand for a more avant-garde service, gave rise to what’s now called the open banking revolution. And, it is changing the way transactional data is shared, used and stored outside Financial Institutions.

This paradigm shift is actively transforming the payments landscape, and with cryptocurrencies squeezing their way toward the innovation space, it looks like it’s set to play a significant role. Crypto Curry Club spoke to BigONE Exchange Chairman, Anndy Lian to discuss the potentially life-changing opportunities that Open Banking brings and how crypto can be leveraged in this new scene.

What is Opening Banking?

Open banking is a banking practice that allows third-party financial service providers to access consumer banking and financial data via application programming interfaces (APIs).

Why do credit bureaus use open banking?

Credit bureaus need to access and process customer information in order to accurately determine creditworthiness. Open banking reduces administrative costs by eliminating manual document collection. Furthermore, open banking allows credit bureaus to analyse consumption patterns, such as overspending, to provide better credit scores (Julio, 2021). Additionally, open banking prevents fraud through authentication and verification of the validity of data (Julio, 2021).

In the video, Anndy and Erica discussed the following topics:

[00:02:01] Give an overview of what open banking is. How is this bringing some disruption and some benefits to the traditional roles of things like lending and credit?

[00:04:51] Do you see any other benefits to the area of credit decision?

[00:08:05] How specifically do you see open banking benefiting people who are either looking to get in crypto or who are already in the crypto space?

[00:12:25] Have you seen a large take up for that sort of access of on ramping via open banking on your exchange?

[00:15:58] What are some of the security benefits that open banking brings?

[00:17:51] What do you see is next for open banking in terms of helping the credit, lending space, and the crypto exchanges picking up this technology of using open banking?

“Open banking prevents fraud through authentication and verification of the validity of data. For financial service providers, open banking will allow financial service providers to significantly innovate on their product offerings to businesses. For businesses, opening banking will mean more effective and efficient financial tools in their business. For customers, it will mean better ways to spend, borrow, and invest.

Opening Banking is good. Defi is better. It can fill up the existing financial gaps.”


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About Crypto Curry Club:

The Crypto Curry Club connects like-minded individuals to come together and affect real change that innovates our future while driving businesses forward.


About Anndy Lian:

Anndy Lian is an all-rounded business strategist in Asia. He has provided advisory across a variety of industries for local, international, public listed companies and governments. He is an early blockchain adopter and experienced serial entrepreneur, book author, investor, board member and keynote speaker. Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. He is also the Chairman, Asia for BigONE Exchange.


About Erica Stanford:

Erica is the Founder of Crypto Curry Club. She is also the author of Crypto Wars: Faked Deaths, Missing Billions and Industry Disruption published by Kogan Page.

The full video can be found at:

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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You can read more about Anndy’s work at

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