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Fintech Takes

How to succeed
in the new era of open banking

With open banking, financial services companies can benefit by being both a data provider and a data recipient. Find out what you need to stay on top.

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Open banking has changed—for everyone

We partnered with Alex Johnson to break down what that means for you. Read on for key takeaways, including...

  • What data recipients need to know
    Make sure to focus on key areas like authorization management of consumer data, retaining records, and strengthening your app registration process.

  • What data providers need to know
    Concentrate on building tools (like developer interfaces) that let consumers share account info with other apps or services, while using your business as the primary hub. These tools need to follow precise performance and security standards.

  • The need for centralized facilitation
    There’s a coordination problem between data providers and data recipients. But open banking platforms can act as central nodes within a large and diverse network, facilitating common and required tasks between both parties.

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Fintech Takes

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