About the Whitepaper
Open finance is helping consumers live healthier financial lives by empowering them to seamlessly access and manage all of their financial data using authorized apps and services. Our whitepaper explores the ways that open finance is changing the financial lives of consumers and how financial institutions can benefit from this shift in consumer behavior. It outlines the core elements financial institutions need to build and manage to connect to the open finance network. It also explains how and why financial institutions should accelerate their open finance journey by partnering with a data network like Plaid.
In this whitepaper you’ll learn the following:
- What is open finance and what are its key principles?
- What are the benefits for financial institutions?
- How does open finance work?
- What are the core elements needed for financial institutions?
- How should financial institutions think about partnering?
- What common misconceptions should financial institutions avoid?
- Regulation isn’t here yet. Why is it necessary to get started now?