The financial industry just witnessed something extraordinary. While most of us were distracted by other headlines, some savvy banks quietly turned a massive regulatory headache into a revenue ...

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.

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 ...

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 ...

Open Finance refers to the overarching concept of using technology and APIs to grant financial services businesses and customers greater ownership and control of their financial data. Open Finance ...

Open banking still has the potential to transform global financial services and how people interact with their finances, but it’s still not there yet. The UK, European Union (EU), Australia and US are ...

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 ...

Open banking offers immense opportunities for the industry and the consumers it serves, but it will only deliver on this potential if banks proactively build customer trust and work together to assure ...

Explainer: If you've heard talk of open banking in recent weeks, you might have wondered exactly what it is. It's been a topic of discussion in the finance sector for years, and is often touted as a ...

When people think of digital assets and financial innovation, they often picture Silicon Valley or Wall Street. Wyoming, with its vast open spaces, unique economy and remote communities, however, ...

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 ...