This American Banker op-ed on open banking discusses the progress that has been made in Europe, particularly the U.K., and how the U.S. government has chosen to follow, not lead, in this new area; while from a regulatory perspective the U.S. may be trailing many American banks are recognizing the importance of third parties being able to access their systems through APIs; now corporations have to deal with another problem, the sudden availability of data from myriad sources making them data rich but knowledge poor. Source.
