One Eye Open: Open Banking in the United States

One eye open:

Open banking in the United States

Banking in the US is relatively fragmented. That’s not a bad thing. Variations in market share and size sustain a rich and competitive banking system where financial institutions collaborate with financial technology companies (fintechs) to offer a range of services.

So, the relatively relaxed regulatory approach to open banking in the US isn’t surprising. But it isn’t entirely passive either. And regulators are keeping a close eye.

“As with their regulated counterparts elsewhere, forward-looking US banks will see open banking for what it truly is - an opportunity.”

This report identifies three major ways US banks can expect open banking to change financial services and recommends a four-step approach to developing an enterprise-wide strategy.

Download the full report to learn how Mastercard can help your organization unlock the value of open banking.

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