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Thanks to their close relationship with the card networks, banks stand to benefit most from deals like Mastercard’s agreement to buy Finicity and Visa’s pending purchase of Plaid. The prospects for fintechs and consumers are dicier.June 29
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The agency's recent update to its guidelines for banks on working with data aggregators and other third parties was not extreme, but some critics say its heavy emphasis on security could be a setback for open banking.March 10
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The U.S. banking system risks being left behind by the European Union and the United Kingdom when it comes to open banking.February 3
Senior Vice PresidentRegions Bank
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Moving to an open banking system comes with both costs and benefits that each bank will need to weigh before diving in.January 23
Senior Vice PresidentRegions Bank
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JPMorgan Chase plans to block fintechs from screen scraping — obtaining usernames and passwords of customers, logging in as them, and copying and pasting their account information into a database.January 3
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Open banking transactions are not initiated by a consumer but are coming from another financial services company. This could make some fraud detection models in place today obsolete.December 20
CEOAppdome
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The deal between one of the largest U.S. banks and a dominant data aggregator is designed to give customers more control over their data.September 19
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The company offers an operating system for financial applications akin to Apple's iOS, and more than 1,000 applications run on it.May 16
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A Brooklyn startup predicts a mix of blockchain and AI can give retailers a referral and conversion model like Amazon and eBay, but the merchants will have to cede some data control.May 16
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Long-simmering tensions between the financial industry and Silicon Valley startups are erupting behind-the-scenes into a battle over the reams of valuable data held inside Americans' bank accounts.March 26
