Open banking is more than just a buzzword -- the emerging trend is reshaping traditional services and may become the industry’s future. Through the use of application programming interfaces (APIs), third-party financial service providers (TPPs) can access customer data that would otherwise be kept secure. Some of these services include budgeting, comparing mortgage rates, creating savings portfolios and more. TPPs are growing in number due to the open banking revolution. Customers crave convenience when it comes to banking. It's highly sought after, and banks and financial institutions must be creative with their offerings if they want to please clients. However,… [Continue Reading]
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