open banking

When one thinks of open banking and third-party APIs, one tends to think of all the benefits for consumers. But CFIs could also leverage the technologies to better serve their small- and medium-sized business customers. We explore the possibilities of open banking, including what the financial sector in Europe has achieved so far.

Zelle’s dominance and cost spurred the development of an alternate payment system designed for CFIs, called CHUCK. The question is, will its open architecture be enough to woo users and secure a place in the competitive P2P payment realm? We take a look at what CHUCK is and its place in the P2P world.

Global open banking activity is predicted to reach $124B by 2031. From enhanced security to meeting customer desires, there is no shortage of reasons why US financial institutions should embrace it.

Faced with shifting customer expectations, new business models, and increased competition, community financial institutions are turning to technology to remain competitive. We round up five of the key trends that continue to reshape the industry and explain how your institution can use them to stay competitive.

Open banking is here to stay. We explain what it is and why it is important for community financial institutions.