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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Article: How Open Banking Guides LATAM’s Spend Management FinTech

Innovation, Money, Open Governance, Open Space

How Open Banking Guides LATAM’s Spend Management FinTech

Latin America is a quiet champion in FinTech innovation. While the region may not be top of mind when it comes to world leaders in financial technology, startups from Mexico to Chile are driving payments digitization, financial management automation and the emergence of new paradigms in the market, like open banking.

Investors are paying attention, too. While analysts assess 2020’s performance, the Latin America Private Equity and Venture Capital Association (LAVCA) said funding for the region’s FinTech startups more than doubled between 2018 and 2019, reaching $4.6 billion, with evidence that 2020 figures may emerge similarly as strong.

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