Open Banking in Portuguese Banking: Strategy, Ecosystems and Challenges in the Digital Decade

ABSTRACT : This article updates and reformulates the strategic analysis of Open Banking in the Portuguese market, drawing on the latest data from the European Digital Decade framework, the post-PSD2 regulatory evolution, and the structural changes in the banking sector following the pandemic. The reference article presents a critical review of the literature, an empirical update of the digital transformation indicators, and reformulated strategic conclusions. The results show that, despite significant progress in connectivity and digital public services, Portugal maintains structural weaknesses in digital human capital and in the advanced integration of data by companies, which condition the strategic adoption of Open Banking. It is concluded that Open Banking is mostly treated as a regulatory obligation rather than a customer-centric lever for value creation.