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Open Banking Standards in the US
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Open Banking Standards in the US

Open Banking Standards in the US

Fintech Nexus Staff·
FintechNews RoundupUSA
·Feb. 13, 2018·1 min read

There is no standard for data sharing between banks and fintechs which often results in screen scraping; this leads to concerns around data security and is also an inefficient way to gather data; the Financial Services Information Sharing and Analysis Center released an updated version of their recommendations around data sharing called the Durable Data API specification; this could eventually become the standard adopted by the industry; American Banker compares this to PSD2 in the UK and shares more about the new specification. Source

  • Fintech Nexus Staff
    Fintech Nexus Staff

    This piece was created by one of our content team members. Reach us at [email protected]

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APIDurable Data APIFinancial Services Information Sharing and Analysis CenterOpen BankingUnited States
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