Open Banking

Open banking is a financial services term as part of financial technology that refers to: The use of open APIs that enable third-party developers to build applications and services around the financial institution. Greater financial transparency options for account holders ranging from open data to private data.

CFPB’s Open Banking Standardization Push Faces Legal, Logistical Hurdles
CFPB’s Open Banking Standardization Push Faces Legal, Logistical Hurdles
January 09, 2025  |  CFPB

The news this week that the Consumer Financial Protection Bureau (CFPB) has recognized Financial Data Exchange (FDX) as a standard-setting body — to help determine how...

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CFPB Permits Financial Data Exchange to Set Open Banking Standards
CFPB Permits Financial Data Exchange to Set Open Banking Standards
January 08, 2025  |  Bank Regulation

The Consumer Financial Protection Bureau (CFPB) has recognized Financial Data Exchange (FDX) as a standard-setting body, allowing it to issue standards that companies can use...

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Regions Bank Taps Axway to Provide Open Banking Services
Regions Bank Taps Axway to Provide Open Banking Services
January 06, 2025  |  Banking

Regions Bank says it has launched a partnership with data integration firm Axway. The collaboration, announced Monday (Jan. 6), will see Regions offer Axway’s Amplify Open Banking solution...

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Finastra Names Ex-Avantax CEO Chris Walters as New Chief Executive
Finastra Names Ex-Avantax CEO Chris Walters as New Chief Executive
January 06, 2025  |  Personnel

U.K.-based financial services software firm Finastra has a new chief executive. Chris Walters, a veteran of financial services firms like Avantax, has joined Finastra as...

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Thredd’s McCarthy: Payments Execs Need to Take a Lesson From NASCAR
Thredd’s McCarthy: Payments Execs Need to Take a Lesson From NASCAR
January 03, 2025  |  Payments Innovation

2025 is here, and the payments industry will navigate uncertainty across regulatory, geopolitical and economic fronts. A new presidential administration will sweep into office, and...

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US Bank Division Sees AI and APIs Meeting Customer Expectations
US Bank Division Sees AI and APIs Meeting Customer Expectations
January 02, 2025  |  Payments Innovation

If trust between financial services firms, merchants and consumers is essential for commerce to take place, it’s a fragile bond. There are five main threats...

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FIS Sees CFOs Moving From ‘Hindsight to Foresight’
FIS Sees CFOs Moving From ‘Hindsight to Foresight’
January 02, 2025  |  B2B Payments

As the financial world approaches 2025, shifts in banking and payments are unfolding. In B2B, however, these advances and innovations are running into a speed...

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Trustly CPO: ‘Exciting Time’ For Pay by Bank and Open Banking
Trustly CPO: ‘Exciting Time’ For Pay by Bank and Open Banking
January 02, 2025  |  Payments Innovation

As payments continue to evolve, a trend to watch in 2025 is the adoption of pay-by-bank technology. This burgeoning payment method, rooted in open banking,...

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To Know What’s Next in Payments, First Look Back
To Know What’s Next in Payments, First Look Back
December 31, 2024  |  Payments Innovation

As we wrap up 2024, PYMNTS’ “What’s Next in Payments” series has provided insights from industry leaders on the current and future state of play...

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