Deep Dive: Open Banking for U.S. Corporates, Avoiding the Pitfalls
Open banking is all the rage, but most people talk about it for consumers. What’s being missed is the opportunity for corporates. Open banking is fast becoming a worldwide phenomenon. It will no doubt improve financial services and allow new companies and products to come to market faster than ever. Many FIs have gone full in with open APIs, but that has resulted is an ecosystem where every FI has a different language, making it difficult for corporates who value consistency, reliability, speed, and security. What’s not working with Open Banking for corporates so far in Europe? How do we avoid those pitfalls in the U.S.?