“At October’s Money 20/20 conference, Chopra unveiled a process for exercising the CFPB’s authority under Section 1033 of the Dodd-Frank Consumer Financial Protection Act that could lay the foundation for open banking. While specifics have yet to be defined, the rule would obligate financial institutions to share data with consumers upon their request. At the…
Tag: APIs
Five Findings From FinovateEurope 2022
“Embedded finance is the buzzword of 2022, but unfortunately it’s still understood too narrowly, focusing on the not-so-innovative expansion of distribution channels. And embedding financial products into customer journeys isn’t easy, a challenge that mmob — another “Best of Show” winner — tries to solve with its partnership platform. But there’s a bigger opportunity around…
How APIs Can Enable Digital-First Banking Transformations
“This can result in huge windfalls for FIs that take advantage, with some studies estimating those that leverage APIs can see increases in revenue of up to 20 percent more than those that do not. One 2019 report even found that 58 percent of API developers and consumers view standardization as the biggest challenge facing…