Banking Fintech News

Xtensifi Releases White Paper Addressing Open Banking in U.S. and Implications on Financial Services Industry

Xtensifi, a digital consulting and development firm that enables financial institutions and fintech providers to create and execute their mobile and online strategies, announced the availability of its latest white paper, “The Future of Fintech’s Access to Financial Data with Open Banking.”.

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The world of open banking will continue to evolve over the next several years and it is critical for financial institutions and fintech firms to embrace innovation in order to remain competitive in the market. These changes will address and balance security and privacy, as well as leverage access to information in a way that mobilizes data to the benefit of the consumer. Under the direction of industry veteran and managing director, Doug Bacon, Xtensifi’s Open Banking Consulting Service helps financial institutions and fintech organizations alike better define and execute viable and productive solutions.

“The move towards open banking in the U.S. provides an opportunity for financial institutions and fintech firms to join forces and move the industry forward,” said George Kelley, CEO of Xtensifi. “As the U.S. moves to understand open banking and its implications, it is especially important that financial institutions and fintech firms are prepared for the possible impacts on their organizations. This white paper highlights the opportunities and challenges this emerging trend presents, explains the forces driving it and offers a clear path forward for financial institutions and fintech firms.”

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