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 ...

Rohit Chopra, director of the Consumer Financial Protection Bureau. On Tuesday, the Consumer Financial Protection Bureau finalized a long-awaited rule that promises to enable consumers to better ...

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 ...

Canada’s Finance Ministry has been holding discussions with stakeholders for several years about introducing open banking, which uses secure application programming interfaces (APIs) to share ...

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 ...

One in five UK consumers and small businesses actively use these services, creating an ecosystem worth approximately £4.1 ...

A future glimpse into how mortgages will be created in 2035 can be found in a woodsy office park in Athens, Georgia. FormFree, a mortgage fintech founded in the midst of the Global Financial Crisis by ...

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 ...

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 ...