If a business wants to let a software program consume its banking data, it typically needs to go through a long series of processes, involving extensive paperwork and implementation, to do so.

In the new open banking world, banks are no longer just service providers but platform enablers that offer everything from payment processing to account verification through application programming ...

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 a huge focus in the financial sector today. So much so, decision-makers and leaders in finance from across Europe are gathering in London next month for an event dedicated to this area ...

Open banking adoption is rising and marketing and giving way to new use cases, but offering the right incentives is key to success. Both regulatory and market driven open banking has become an ...

Artificial intelligence (AI) isn’t the only technology driving digital transformation. For banks, retailers and enterprise businesses, open banking and application programming interfaces (APIs) are a ...

On May 30, the Consumer Financial Protection Bureau petitioned the U.S. District Court in Kentucky to vacate its rulemaking under Section 1033, which requires that banks support consumers wishing to ...

In 2017, the UK introduced open banking, a concept born from an initiative by the Competition and Markets Authority (CMA) aimed at improving retail banking. The CMA required the nine largest retail ...

As more and more pension schemes and providers are connecting to the dashboard data ‘ecosystem’, Ellie Duncan – author of Open Banking and Financial Inclusion – explores the lessons the pensions ...

SSBs are set to play a pivotal role in the open banking structure contemplated by the CFPB’s Final Rule. They are to be “fair, open and inclusive” industry bodies that meet specific requirements for ...

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 ...