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 ...

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.

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 ...

Policymakers should recognize open banking as part of Canada’s response to economic abuse and small business resilience, not only as a competition or financial sector reform.

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 ...

CFPB's open banking rule aims to boost competition Data aggregators and payment apps say rule promotes safe data transfer Banks legally challenge rule over process, data security concerns Fintech ...

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 ...

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