US Open Banking Regulations Will Force More Bank-FinTech Collaboration
The FinTech-Bank Relationship Shifts Toward Collaboration
Nearly all banks view FinTech partnerships as important, but the partnership dynamics will be put to the test as new open banking regulations go into effect in 2024. In the “FinTech Tracker®,” a collaboration with Sezzle, PYMNTS examines what will be required as banks and FinTechs will rely on each other for data sharing and compliance.
Inside the June Tracker
- With surging levels of fraud and growing regulatory scrutiny, an industry insider explains why compliance will become a central part of bank-FinTech relationships.
- Lloyds Banking Group announced efforts to discover new FinTech partners, while Orange Bank revealed plans to migrate to Mambu’s cloud banking platform.
- When the U.S.’s open banking rules go into effect, banks and FinTechs must rely on each other to ensure compliance and make the most of the opportunity.
FinTech
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