Writing in Forbes Ron Shevlin of Cornerstone Advisors talks about moats in financial services and where banking is headed for...
Fidelity has launched a new data sharing hub called Akoya in a bid to end screen scraping and clarify data...
There is a behind the scenes fight brewing between fintechs and banks who are setting setting stricter guidelines on who...
Envestnet’s Yodlee, Quovo and Morningstar’s ByAllAccounts have come together to establish a data sharing framework with banks and fintechs; the...
New regulations in Europe are set to effect U.S. banks that serve EU based customers. Banks need to understand what data is shareable and what new protocols to put in pace before the regulations take place in May. Source.
JPMorgan Chase plans to block fintechs from screen scraping as they believe the practice is putting the bank at greater...
In an op-ed in the FT, the chairman of BBVA, Carlos Torres Vila, argues for the expansion of European open...
While most companies are looking for further deregulation they are increasingly looking towards regulators for more clarity on data sharing;...
Banks can take a lot of lessons from Facebook in regards to the ongoing data problems with Cambridge Analytica; as data sharing becomes commonplace in banking, banks and their partners need to ensure information is kept secure and not used for nefarious reasons. Source.
Credit bureaus have had a tough past year with the Equifax breach of customer data and new legislation in the U.S. looking to increase competition by allowing lenders to use different sources; changing the credit bureau system is not as easy as it may sound as they have been intertwined in the financial services system for a long time; lenders still use the bureaus for a large majority of lending decisions, even though some alternative bureaus have seen traction; the breach at Equifax could have a lasting effect because people did have a lot of trust in the company to secure their sensitive information like social security numbers; as data sharing in financial services becomes commonplace a premium will need to be placed on how that data is secured. Source.