Open banking can change the game for financial services and empower account holders like never before. Customers are demanding transparency and access to their data for third party providers, but the absence of open banking regulations in the U.S. has caused some to question the seriousness of the movement.
The good news is, the U.S. banking industry is moving forward to advance the use of open banking related API protocols, like the consortium of top financial services institutions working together to define, standardize, and secure data transfers—organized by FS-ISAC’s Financial Data Exchange (FDX).
These progressive financial institutions are helping to define an API strategy that will transform the very future of banking by driving new revenue streams and a stickier customer experience.
RVP, Global Solutions Engineering