It’s time for a serious open banking standard

There are four things that should now be crystal clear to everyone involved in open banking:

Open banking has arrived. It was the #1 topic at Money 20/20 Europe. Open banking regulations are now appearing in other parts of the world beyond the EU.

Open banking is so irresistible that even banks that aren’t required to adopt open APIs are doing it voluntarily. Wells Fargo, for example, has implemented APIs to support over 20 use cases that it thought were compelling.

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