What Lessons Can the U.S. Learn from Open Banking in the UK
Open banking is the term used to describe the structured sharing of data by consumers with (and between) their financial service providers, based on those consumers’ needs and informed consent.
There is no denying that the phrase “open banking” has become somewhat of a
buzzword for the financial services sector over the last five years. So, what does it
actually mean? Generally, open banking is the term used to describe the structured
sharing of data by consumers with (and between) their financial service providers,
based on those consumers’ needs and informed consent.