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 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 ...

The Open Banking opportunity is super-sized in the US. What’s the market size and how do we best access it? What are the gotcha’s? What do we need to know…? To answer these questions and many more ...

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 ...

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 ...

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 ...

(Reuters) -The top U.S. consumer finance watchdog on Tuesday unveiled long-awaited rules that would make it easier for consumers to switch between financial services providers, a move the agency said ...

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 ...

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 ...

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 ...

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 ...