As a result of technological developments, the banking environment and services have changed. The concept of fintech, which combines technology with finance applications, enabled banking services to be introduced with a new concept. This new banking concept called "open banking" highlighted the concepts of digitalization and transparency in the banking sector. In this study, the definition, implementations in world and Turkey, opportunities and risks and the legal dimension of open banking are discussed. As a result of the literature review, it is concluded that with open banking, banks implement four basic strategies: compatibility, competitiveness, expansionism and transformationalism.