USA
Open Banking is gaining momentum in the United States.
Driven by digital banking technologies that expand market access for consumers and businesses. The Consumer Financial Protection Bureau (CFPB) is working on a personal data rights rule to empower consumers, facilitating easier bank switching and loan applications.
In the U.S., Open Banking is guided by industry-led organizations like the Financial Data Exchange (FDX), ensuring secure and standardized data sharing. FDX standards promote innovation and expand access to financial products and services. Upcoming CFPB regulations will further solidify Open Banking's foundation, setting expectations and enhancing consumer control over financial data.
Caspian One actively supports market-driven initiatives like FDX and forthcoming government regulations, contributing to open banking's advancement in the U.S. and North American regions with our FDX-compliant solutions.
Updated: November 2023
