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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

The Consumer Financial Protection Bureau, the bureaucratic brainchild of Sen. Elizabeth Warren (D-MA), has become a textbook example of how government overreach hides behind feel-good slogans. Now, ...

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 ...