The financial services industry is preparing for open banking to become law in the United States. Financial institutions of all sizes, from the largest banks to community banks and credit unions, should be planning their digital strategies to adhere to the Consumer Financial Protection Bureau's final rule expected by this Fall. What may seem like a daunting compliance exercise can actually be an opportunity for small and medium sized institutions to offer their customers improved access to the digital solutions they are demanding without losing the account primacy they've built over decades. In this webinar, executives from Plaid and American Bankers Association discuss the impact open banking could have on the digital financial ecosystem, challenges and opportunities for small and medium sized financial institutions, and what they can be doing now to prepare. Key focus areas to be covered include:
- What the fundamentals of an open banking rule in the US will include
- How financial institutions of all sizes can begin preparing for open banking regulation
- Ensuring trust and safety in an increasingly digital financial services ecosystem
