Much has been said and written about open banking in the last few years, and 2024 certainly saw it achieve significant traction. The U.K.’s open banking roadmap reached full completion, with the ...

Open banking is revolutionizing financial services by enabling secure data exchange between banks and third-party providers. The European Union’s Revised Payment Services Directive (PSD2) played a ...

The Consumer Financial Protection Bureau (CFPB) finalized its “open banking” rule in late 2024. As required by Section 1033 of the Consumer Financial Protection Act, the CFPB promulgated the rule to ...

The use of open banking services in the UK has increased by a third in the past 12 months as it becomes “part of everyday life”, according to an industry authority. There were over 15 million users of ...

Businesses and consumers are increasingly transitioning to cashless or cash-light transactions, driven by the growing adoption of remote and online payment solutions. According to American Bankers ...

Citizens Bank's latest foray into open banking is aimed at the annoyance of switching recurring payments from one card or bank account to another, a hurdle the bank plans to ease through a mobile app ...

The American Fintech Council has issued a statement commenting on emerging barriers to consumer data access. The statement addresses the sector of Open Banking and providing consumer control over ...

Lee Fulmer, senior advisor at McKinsey and Chairman of the OpenUK Finance Advisory board, weighs in on why open banking is such a hard problem. His insights have important implications for the ...

It’s amazing that Open Banking, once a visionary concept, is now celebrating its seventh anniversary. When it launched in the UK in 2018, its mission was clear: to transform the financial services ...

A rapid transformation in consumer finance is being brought about by open banking—a pivotal innovation that allows consumers to give third parties real-time access to their detailed financial data.