US Data Sharing Debate Continues

Europe’s PSD2 will require financial institutions to share data with third party service providers creating a new market opportunity for fintech developers with guaranteed account data access; in the US fintechs must still rely on relationship building to secure data partnerships thus making technology development more challenging; American Banker reports on details of a recently formed association that’s seeking to make data access easier; the Consumer Financial Data Rights (CFDR) consortium includes 31 data aggregators and fintech companies lobbying for data access solutions and agreements; American Banker also outlines the progress that has been made in data sharing and proposals from the CFDR. Source