Article: New Report: Open Banking Is More Than Ready For Its Full US Debut

Money, Open Governance

New Report: Open Banking Is More Than Ready For Its Full US Debut

Open banking is a reality in the United Kingdom, and coming soon to American shores in its digital-first dazzle, in no small part built on foundational work done in markets like the U.K.

“Open banking usage in the U.K. doubled in 2020, and open banking technology powered 6 billion calls through FinTech APIs and more than 4 million consumer transactions, according to the Open Banking Implementation Entity (OBIE), the body overseeing open banking in the country,” according to PYMNTS March 2021 Open Banking Report, a TrueLayer collaboration.

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