The U.S. is Following Europe’s Lead in Open Banking

This American Banker op-ed on open banking discusses the progress that has been made in Europe, particularly the U.K., and how the U.S. government has chosen to follow, not lead, in this new area; while from a regulatory perspective the U.S. may be trailing many American banks are recognizing the importance of third parties being able to access their systems through APIs; now corporations have to deal with another problem, the sudden availability of data from myriad sources making them data rich but knowledge poor. Source.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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