August 25, 2025

Open Banking

Banking

One-Tap Payments Finally Come to Open Banking

Wollette announces the upcoming launch of its revolutionary payment experience, set to go live in Q4 2025 LONDON, June 16, 2025–(BUSINESS WIRE)–Wollette, the British technology company redefining commerce, payments, and consumer engagement, today announces WollettePay – a bold new way to pay. Designed to combine the speed of one-tap checkout with the power of open

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Banking

Fintech Banking: Disrupting Traditional Finance

The banking sector is undergoing a transformative revolution largely driven by the rapid rise of financial technology, commonly known as fintech. Fintech companies leverage cutting-edge technologies, such as artificial intelligence, blockchain, cloud computing, and big data analytics, to offer innovative financial products and services. This digital disruption has challenged the traditional banking model, which has

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Banking

CFPB, bank lobby ask court to strike down open banking rule

The Consumer Financial Protection Bureau has asked a federal court to vacate its own open banking rule because it believes the rule exceeds the bureau’s authority and is arbitrary and capricious in its scope. In a motion for summary judgment filed Friday evening in the U.S. District Court for the Eastern District of Kentucky, the

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Banking

How banks are getting their data ready for open banking

Anyone who has attempted to import multiple sets of data into a spreadsheet knows how important it is for shared datasets to have common formatting standards. What’s true for Microsoft Excel is even more true for bank account information. The Consumer Financial Protection Bureau had finalized an open banking rule that would mandate the sharing

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Banking

Here’s what banks must do to secure open banking data

The concept of open banking, or financial data sharing between banks and fintechs, comes with a number of security concerns. What if an application programming interface — a tunnel through which data passes from one application to another — is compromised? What if data stored at a fintech or data aggregator gets hacked? The Consumer

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Banking

The CFPB plans to kill the 1033 rule. Open banking lives on

If you asked the average person on the street if they would like their bank account data to be treated in the same way as data on Instagram or Facebook — that is, shared with advertisers, vendors and service providers — the response would be a resounding: “No! Absolutely not!” Yet every day, millions of

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Banking

Bangladesh Banking Sector Reform 2025 | Reviving Bangladesh’s banking sector: A race against time for innovation and reform

Once a foundation of economic development, Bangladesh’s banking industry is on the verge of becoming its Achilles heel. Crushing non-performing loans (NPLs), poor governance, and stagnant innovation undermine confidence, limit credit expansion, and threaten financial stability. If dramatic changes are not sought, the country may lose one of its main tools for maintaining long-term economic

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Banking

Citizens brings commercial customers into open banking API

If a business wants to let a software program consume its banking data, it typically needs to go through a long series of processes, involving extensive paperwork and implementation, to do so. Citizens Bank is removing this pain point for its commercial customers by including them in the bank’s recently-launched open banking software. The trend

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Banking

Court allows fintechs to defend CFPB’s open banking rule

A federal judge granted the Financial Technology Association the right to intervene in the Consumer Financial Protection Bureau’s open banking rule, allowing the fintech industry to defend a rule on consumer financial data rights that the Trump administration refused to uphold.   On Wednesday, U.S. District Court Judge Danny Reeves said the FTA has a substantial

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Banking

CFPB to amend or reissue 1033 open banking rule, experts say

The Consumer Financial Protection Bureau is expected to amend, or rescind and reissue, the rule on consumer financial data rights, potentially throwing out years of work under the Biden administration on a regulation that banks have long opposed, experts say.  How the Trump administration will change the open banking rule is still unknown, but there

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