Author: rebecca

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FDATA North America Submits 2025 Pre-Budget Submission to Canadian House of Commons’ Standing Committee on Finance

Contact: Laine Williams, (202) 897-4757,  [email protected] 

July 26, 2024, Washington, DC – The Financial Data and Technology Association of North America (FDATA) submitted to the Canadian House of Commons’ Standing Committee on Finance (FINA) its recommendations in advance of the 2025 budget. Our submission emphasized the need for the rapid and well-governed implementation of Canada’s open banking system and the expansion of open banking into an open finance framework to drive innovation and competition in the financial sector.

We urged the Canadian government to:

  • Include language in Budget 2025 to ensure the implementation of Canada’s open banking system, allowing both consumers and small business owners to have full access to its benefits and prioritizing the growth of Canada’s innovation economy.
  • Outline the government’s approach to open finance, the next logical step in financial services. Budget 2025 should establish a timeline for expanding the framework to include additional types of financial accounts, ultimately encompassing any financial account controlled by a consumer or small business.
  • Ensure that the Financial Consumer Agency of Canada (FCAC) governs the system in a manner that does not inadvertently dissuade smaller entities from participating.

In the submission, FDATA highlighted that Budget 2024’s delivery of Canada’s initial CDB framework marked an important milestone in a long, consultative journey. Budget 2025 should both ensure delivery of open banking in line with the government’s and the market’s expectations and build on this important progress, including unambiguously making small business accounts part of the first phase and ensuring that the FCAC’s enforcement of the system is appropriately tiered based on the size, complexity, and use case of participating entities.

A full copy of the submission is available here.

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FDATA North America Responds to the CFPB’s BNPL Interpretive Rule

Contact: Laine Williams, (202) 897-4757, [email protected] 

July 24, 2024, Washington, DC– The Financial Data and Technology Association of North America (FDATA), a trade association representing more than 30 financial technology companies and consumer-permissioned data access platforms in Canada and the United States, today submitted a comment in response to the Consumer Financial Protection Bureau’s (CFPB or Bureau) interpretive rule classifying Buy Now, Pay Later (BNPL) loans as Regulation Z-regulated products under the Truth in Lending Act (TILA).

FDATA North America commended the CFPB for classifying BNPL loans as Regulation Z-regulated products under the TILA, which will ensure that these loans are considered “covered data” under the Bureau’s forthcoming final rule implementing Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Section 1033). The Section 1033 rule will allow consumers to share their balance and transaction information across credit card, checking, and savings accounts with third-party financial providers of their choice, ensuring greater financial transparency and empowerment. The designation of BNPL loans will enable consumers to make more informed financial decisions and manage their finances more effectively when considering applying for, utilizing, and servicing BPNL loans.

As the leading trade association that has long advocated for the inclusion of all consumer financial accounts under the CFPB’s Section 1033 rule, FDATA North America supports this incremental step towards a more expansive Section 1033 rulemaking. FDATA North America encourages the Bureau to continuously broaden the types of accounts covered under its Section 1033 rulemaking over time, ensuring that all consumers can access and share their financial data digitally and benefit from important protections when they do so.

A full copy of the letter is available here.

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FDATA North America July Newsletter

FDATA North America Monthly Newsletter for July 2024

Welcome to FDATA North America’s monthly newsletter! These regular dispatches will share developments from our organization and our 30+ member companies, all of which are promoting financial access and inclusion with open finance use cases. We also include a list of upcoming industry events, and coverage of any market developments that impact fintech innovators. Know someone who’d like to receive these monthly updates? Send them here to sign up.

FDATA North America News

FDATA North America Sends Letter to Missouri Regulator to Support Consumer-Permissioned Data Access. On June 20, 2024, the Financial Data and Technology Association of North America (FDATA) sent a letter to Missouri Secretary of State Jay Ashcroft in response to warnings issued by the Missouri Securities Division. These warnings, sent on May 23, 2024, to over 40 state-registered advisors, raised concerns about the use of clients’ log-in credentials to access financial information with client consent. FDATA North America’s letter emphasized the importance of allowing financial advisors to access and review clients’ financial information for providing informed recommendations that improve financial outcomes for Missourians. They highlighted the negative impact of the Division’s warning, which discourages the use of third-party tools that enhance clients’ investment and financial outcomes. FDATA North America reiterated its commitment to data privacy and information sharing, advocating for secure consumer-permissioned data access. They urged the Missouri Securities Division to consider mandating secure interfaces for consumer-permissioned data access for retirement and securities accounts, in alignment with forthcoming federal rules by the Consumer Financial Protection Bureau, ensuring consumers can safely share their financial data with third parties. FDATA released a statement on its submission of the letter, which can be found here.

Member News & Activity

Basis Theory published a blog highlighting how connected payments help improve margins and reduce risk for merchants. Connected payments allow merchants to implement a logical layer between purchase requests and transaction submissions, enabling flexibility, improved fraud detection, and reduced risk, ultimately enhancing profitability and ensuring secure, continuous improvement of their payment systems.

Codat published a blog explaining how their bank transaction categorization engine works to improve decision-pmaking and efficiency in business lending by automating and accurately categorizing transactions. By leveraging real business data and integrating banking and accounting information, Codat’s engine helps lenders enhance data accuracy, streamline operations, and make more informed lending decisions.

Envestnet posted a new podcast episode on Data Driven Finance featuring Steve Boms, Founder & President at Allon Advocacy, discussing regulations in financial services. Key highlights include regulation readiness for open banking, key metrics for connected finance, and reassurances consumers need when sharing data.

Fiserv published an article discussing how financial institutions can combine self-service convenience with personal attention to satisfy consumers in the age of digital banking. By evolving and automating branches, financial institutions can balance delivering personal attention with providing self-service capabilities, ultimately improving efficiency, customer satisfaction, and revenue growth.

Flinks posted a blog announcing that Flinks Pay now supports Electronic Funds Transfers (EFTs) and has introduced an improved payment workflow that unifies the experience from onboarding to account activation. By providing a single, seamless workflow for validation, authorization, and payment setup, Flinks Pay helps Canadian lenders and borrowers manage their payments efficiently, reducing manual processes, minimizing fraud risk, and enhancing overall operational efficiency.

GoCardless was featured in the Summer edition of Financial IT Magazine, where CPO Andy Wiggan addresses whether open banking was overhyped, the potential for bank payments to compete with cards, and what it will take for VRPs and commercial use cases to achieve unanimous success.

MX’s Jane Barratt attended the Fifth Workshop on Credit Card Lending, Consumer Finance, and the AI Revolution on June 27–28, 2024. The Federal Reserve Bank of Philadelphia and the Supervisory Research and Policy Forum (SURF) organized the workshop, providing a platform for regulators, industry experts, and academics to discuss key topics shaping the consumer finance industry, including innovations in open banking, payment networks, data privacy, and the impact of ML/AI on consumer lending.

Plaid was featured in a Fast Company article highlighting its new Plaid Layer technology, which simplifies the process of signing up for financial accounts and linking bank accounts to just 15 seconds. This innovative solution allows users to set up accounts with compatible financial services using stored data, significantly reducing the time and effort required for onboarding and boosting user conversion rates by up to 25%.

Events and Submission Deadlines

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FDATA North America Sends Letter to Missouri Regulator to Support Consumer-Permissioned Data Access

Contact: Laine Williams, (202) 897-4757, [email protected] 

June 20, 2024, Washington, DC – The Financial Data and Technology Association of North America (FDATA), a trade association representing more than 30 financial technology companies and consumer-permissioned data access platforms in the United States and Canada, today sent a letter to Missouri Secretary of State Jay Ashcroft in response to warnings the agency sent to state-registered advisors regarding potential investor harm associated with advisors’ use of technology-based tools to help manage their clients’ portfolios.

The Missouri Securities Division on May 23, 2024, sent warning letters to more than 40 state-registered advisors raising concerns about advisors using clients’ log-in credentials to access financial information with client consent.

In its letter, FDATA North America emphasized that allowing financial advisors to access and review clients’ financial information is essential for providing informed recommendations that improve financial outcomes for Missourians. FDATA North America also highlighted the potential negative impact of the Division’s warning, which discourages the use of third-party tools that can enhance clients’ investment and financial outcomes. FDATA North America reiterated its commitment to data privacy and information sharing while advocating for secure consumer-permissioned data access and urged the Missouri Securities Division to consider mandating, in alignment with forthcoming federal rules by the Consumer Financial Protection Bureau, the promulgation of secure interfaces for consumer-permissioned data access for retirement and securities accounts, ensuring that consumers can safely share their financial data with third parties.

A full copy of the letter is available here.

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FDATA North America June Newsletter

FDATA North America Monthly Newsletter for June 2024

Welcome to FDATA North America’s monthly newsletter! These regular dispatches will share developments from our organization and our 30+ member companies, all of which are promoting financial access and inclusion with open finance use cases. We also include a list of upcoming industry events, and coverage of any market developments that impact fintech innovators. Know someone who’d like to receive these monthly updates? Send them here to sign up.

FDATA North America News

FDATA North America Sends Letter to CFPB Advocating for Distinction Between Digital Wallets and Passthrough Payment Platforms. On May 2, 2024, the Financial Data and Technology Association of North America (FDATA) sent a letter to the Consumer Financial Protection Bureau (CFPB or Bureau) addressing concerns in the Bureau’s approach to digital wallets and passthrough payment platforms in both its Notice of Proposed Rulemaking (NPRM) on Personal Financial Data Rights and its NPRM on Defining Larger Participants of a Market for General-Use Digital Consumer Payments. In the letter, FDATA NA critiqued the CFPB’s approach for not distinguishing between digital wallets, which hold consumer assets, and passthrough payment platforms, which facilitate transactions through other financial institutions. FDATA NA argued that this lack of distinction could lead to regulatory inefficiencies, consumer confusion, and stifled innovation. FDATA NA’s letter advocated for more tailored regulations that reflect the unique functions of digital financial services, emphasizing the need to exempt passthrough platforms from certain regulatory burdens to protect innovation and ensure precise, effective consumer protections. FDATA released a statement on its submission of the letter, which can be found here.

FDATA North America Responds to the Bank of Canada’s Retail Payments Supervision Consultation. On May 21, 2024, the Financial Data and Technology Association of North America (FDATA) responded to the Bank of Canada’s Retail Payments Supervision Consultation regarding its new supervisory guidelines for payment service providers (PSPs). Representing over 30 financial technology companies and consumer-permissioned data access platforms in Canada and the United States, FDATA expressed broad support for the Retail Payments Activities Act (RPAA) regulations while requesting additional clarity. FDATA emphasized that implementing the RPAA regulations will establish a robust regulatory framework for up to 2,500 PSPs, significantly advancing Canada’s financial services modernization. The association highlighted the importance of including payment use cases in Canada’s consumer-driven banking framework to align with other G7 nations. In its detailed response, FDATA addressed key aspects of the draft supervisory guidelines, such as urging comprehensive due diligence for outsourced service providers, flexible compliance standards, clear thresholds for different types of PSPs, and an extended 24-hour reporting period for material breaches. It also proposed reporting incidents solely to the Office of the Privacy Commissioner to reduce duplicative reporting and requested clarity on the definition of “holding funds,” recommending the exclusion of firms that facilitate transactions without holding funds. Additionally, FDATA called for explicit criteria for changes warranting notification, particularly for cloud migration. FDATA released a statement on its submission of the letter, which can be found here.

Member News & Activity

ByAllAccounts published a blog on designing open banking experiences for delegated access, highlighting the importance of accommodating complex relationships outside the current third-party data-sharing models. The blog discussed how ByAllAccounts is working with financial institutions and industry standards bodies to support consumer relationships with financial advisors, trustees, and guardians within the new open banking frameworks.

Basis Theory published a blog on the different types of payment tokens: universal, PSP, and network tokens, highlighting how each type masks sensitive payment data to improve security and streamline payment processing. The blog emphasized that while universal tokens offer the highest level of security and flexibility across various payment systems, PSP tokens are convenient for single-provider setups, and network tokens are specific to card networks, making them less versatile.

Betterment was featured on The Balancing Act which covered how Betterment’s combination of human expertise and technology makes it easy for consumers to invest. Watch the full segment here.

Envestnet launched a podcast featuring Farouk Ferchichi, Group President of Envestnet | Yodlee, discussing his fintech entrepreneurial background and its application at Envestnet. The episode covered topics such as internal transformation, data democratization, financial wellness, customer needs, and the role of AI in financial management and advisement.

Experian published a press release announcing the launch of Cashflow Attributes™, a solution aimed at expanding credit access for underserved consumers by integrating over 900 income, cashflow, and affordability attributes into lending decisions. This tool leverages banking data to provide a more comprehensive view of a consumer’s financial health, potentially improving predictive accuracy by up to 20% and supporting financial inclusion for nearly 106 million U.S. consumers who struggle to secure credit at mainstream rates.

Fiserv posted an article about Finxact, a next-generation banking platform designed for flexibility and scalability in banking, fintech, and embedded finance. Finxact’s open, API-first architecture allows financial institutions to offer personalized digital experiences and integrate seamlessly with other technologies, providing enhanced data access and real-time transaction processing.

Flinks published a blog highlighting the pivotal role of Electronic Funds Transfers (EFTs) in Canada’s shift towards a cashless economy, accounting for 59% of total payment value in 2022. The blog discussed how EFTs provide secure, efficient, and convenient digital transactions, transforming financial operations for individuals and businesses while addressing challenges such as privacy, digital access, and the transition from traditional cash use.

GoCardless was featured in Payments Dive in an op-ed discussing how Pull-ACH can help finance leaders reduce costs and increase revenue by automating payment processes. The piece highlighted the advantages of Pull-ACH, including faster payment receipt, lower transaction fees, reduced failed payments, and improved cash flow management, making it a vital tool for businesses aiming to future-proof their payment systems.

MX published a blog advocating for Open Finance, emphasizing the benefits of accessible and actionable financial data for consumers. The blog highlighted key statistics showing that a significant majority of consumers desire a consolidated view of their finances, personalized financial services, and secure data connectivity, supporting the need for an open finance ecosystem as formalized by U.S. and Canadian governments.

Plaid published a blog announcing new solutions to help customers prepare for the upcoming U.S. open banking regulation, known as the CFPB’s 1033 rule, which will ensure consumers have control over their financial data. They introduced an open banking readiness toolkit and the Data Transparency Messaging tool, which provides detailed information about data usage and simplifies compliance with new authorization and data retention requirements.

Trustly published a press release announcing a partnership with PayNearMe to integrate Trustly’s Open Banking solution into PayNearMe’s MoneyLine™ platform. This collaboration will enhance iGaming and Online Sports Betting by enabling real-time ACH deposits and withdrawals, improving user experience and reducing operator risk.

Events and Submission Deadlines

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FDATA North America Responds to the Bank of Canada’s Retail Payments Supervision Consultation

Contact: Laine Williams, (202) 897-4757, [email protected] 

May 21, 2024, Washington, DC – The Financial Data and Technology Association of North America (FDATA), a trade association representing more than 30 financial technology companies and consumer-permissioned data access platforms in Canada and the United States, today responded to the Bank of Canada’s Retail Payments Supervision Consultation regarding its new supervisory guidelines for payment service providers (PSPs). FDATA North America expressed broad support for the Retail Payments Activities Act (RPAA) regulations while requesting additional clarity in the Bank’s guidance.

FDATA North America highlighted that implementation of the RPAA regulations will establish a robust regulatory framework for as many as 2,500 PSPs, significantly advancing Canada’s financial services modernization. In the response, FDATA North America emphasized that the RPAA regulations should facilitate the inclusion of payment use cases into Canada’s consumer-driven banking framework, as announced by Deputy Prime Minister and Minister of Finance Chrystia Freeland in the 2024 budget. By incorporating payment initiation use cases at this early stage, Canada can align with other G7 nations that have already established non-bank PSP regulations and open finance frameworks.

In its comments, FDATA North America provided detailed responses to key aspects of the supervisory guidelines. For operational risk and incident response, it urged comprehensive due diligence for outsourced service providers, flexible compliance standards like SOC II Type 2 audits, clear thresholds for distinguishing different types of PSPs, and an extended 24-hour reporting period for material breaches. It proposed that PSPs report incidents solely to the Office of the Privacy Commissioner (OPC) to reduce duplicative reporting. For safeguarding end-user funds, FDATA requested clarity on the definition of “holding funds” and recommended excluding firms that facilitate transactions but don’t hold funds. Additionally, it called for explicit criteria for changes warranting notification, particularly for cloud migration, to help PSPs manage risks while complying.

A full copy of the response is available here.

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FDATA North America May Newsletter

FDATA North America Monthly Newsletter for May 2024

Welcome to FDATA North America’s monthly newsletter! These regular dispatches will share developments from our organization and our 30+ member companies, all of which are promoting financial access and inclusion with open finance use cases. We also include a list of upcoming industry events, and coverage of any market developments that impact fintech innovators. Know someone who’d like to receive these monthly updates? Send them here to sign up.

FDATA North America News

FDATA North America Statement on Budget 2024 Initiating Consumer-Driven Banking Framework. On April 16, 2024, the Financial Data and Technology Association of North America (FDATA) applauded the government’s inclusion of a framework to deliver consumer-driven banking as part of Budget 2024. FDATA North America, a longtime advocate for the benefits of open finance for consumers and small businesses, commended the government for its detailed plan and commitment to implement an open finance system through legislation this spring, which will be interoperable with similar U.S. frameworks. FDATA NA encouraged including small business accounts to ensure benefits extend to Canadian small businesses. FDATA NA Executive Director Steve Boms expressed strong support for this move, noting it aligns with global trends towards consumer-centric financial services and promises to enhance financial inclusion and innovation in Canada’s financial sector. FDATA released a statement, which can be found here.

Member News & Activity

Basis Theory published a blog outlining strategies for merchants to modernize their payments infrastructure, emphasizing the importance of evolving with the digital economy to enhance efficiency and reduce costs. The post highlights the critical role of adopting advanced systems like token vaults and payment processor decisioning to optimize transaction fees and improve overall financial performance.

Betterment was featured in a PR Newswire article announcing its acquisition of Marcus Invest’s digital investing accounts from Goldman Sachs, aiming to enhance its award-winning retail platform. This strategic move is set to expand Betterment’s scale by integrating Marcus Invest’s digitally customized portfolios, further establishing its position as a leader in the digital investment advisory space.

ByAllAccounts was featured in a Fintech Global article, which detailed how the company enhances data connectivity for wealth management firms and wealthtechs by addressing challenges in integrating data across diverse technology platforms. The article highlighted ByAllAccounts’ role in providing a single connection to its network, which facilitates access to a multitude of data sources, thereby simplifying data management and improving operational efficiency for its clients.

Codat posted a blog announcing their new Supplier Enablement data product designed to help issuing banks transition from checks to virtual card payments in B2B transactions. By partnering with J.P. Morgan, this innovative solution leverages data APIs to streamline the integration of supplier and spend data, enhancing payment processes and driving adoption of virtual cards.

Envestnet posted a blog highlighting how open banking is poised to transform South Africa’s economic landscape and enhance financial inclusion. Although still in its nascent stages, open banking facilitates the sharing of consumer-permissioned financial data through open APIs, paving the way for innovative financial services and broader access to financial products for underserved populations.

Fiserv published a press release detailing their new enhancements to billing and payment communications, designed to help billers increase on-time payments and streamline operations. By integrating call-to-action notifications and alerts into their BillMatrix® system and partnering with Tilli, Fiserv aims to improve customer engagement and operational efficiency through personalized, multi-channel communication.

Flinks posted a release outlining the significant updates in Canada’s Consumer-Driven Banking for 2024, emphasizing the formal adoption of Open Banking as mandated in Budget 2024. This initiative, set to commence this spring, involves the implementation of foundational components such as governance structures and technical standards, positioning financial institutions to adapt to evolving regulatory and technological landscapes.

Interac published a release announcing its acquisition of exclusive Canadian rights to the Vouchr platform, aiming to enhance Interac e-Transfer with personalized multimedia notifications. This strategic move allows Interac to integrate Vouchr’s technology into their services, offering customizable and engaging e-gifting experiences that reflect the increasing consumer preference for digital-first interactions.

Inverite was featured in a Yahoo Finance article highlighting its remarkable achievement of recording a record number of transactions in the first quarter of 2024 through its AI-driven open banking platform. The article details how Inverite Insights Inc. has seen significant growth in revenue-based transactions, with a 29% increase from the same period last year, emphasizing the company’s strong position in the financial technology sector.

Method published a blog emphasizing the critical need for diverse authentication regimes as the Consumer Financial Protection Bureau (CFPB) moves forward with finalizing Section 1033 of the Dodd-Frank Act, which aims to enable inclusive access to the benefits of open banking for all consumers, especially the unbanked, underbanked, and non-digitally banking populations. Highlighting the potential for existing credential-based authentication methods to exclude millions from accessing open banking benefits, Method proposes an alternative approach. This approach utilizes personally identifiable information and account numbers, aiming to ensure secure and inclusive access to financial services, fostering financial health and empowerment across broader demographics.

MX published a blog post discussing the recent progress in Canada’s Consumer-Driven Banking Framework, detailing the Canadian government’s plans to introduce legislation this spring as part of Budget 2024. The post highlights that this legislation will set the governance, scope, and technical standards for Open Banking in Canada, aiming to enhance financial data control for Canadians and foster a more inclusive and competitive financial ecosystem.

Petal was highlighted in a PR Newswire article discussing Empower Finance, Inc.’s definitive agreement to acquire Petal, a U.S.-based fintech company, alongside the completion of its acquisition of Cashalo, a lending company in the Philippines. The acquisitions are part of Empower’s strategy to expand access to fair credit and improve financial services for underserved consumers, using innovative approaches like cash flow underwriting and alternative data analysis to reshape credit accessibility globally.

Plaid published a blog post authored by Victoria Margolin, a product marketer focused on the evolution of open finance, providing a comprehensive overview of the upcoming Dodd-Frank Section 1033 rule by the Consumer Financial Protection Bureau (CFPB). The post details the implications of the rule for companies, emphasizing the need for compliance in managing consumer data rights and the benefits it brings in promoting a more secure and consumer-friendly financial ecosystem.

Trustly posted a release announcing their recent activation on the FedNow®️ rail, marking a significant advancement in their capabilities to offer instant payouts, particularly through their collaboration with ESPN BET. This integration not only enhances Trustly’s leadership in instant payments in the U.S. but also positions ESPN BET as the first sports betting merchant to leverage FedNow®️ for instant payout options, broadening access across the nation.

Events and Submission Deadlines

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FDATA North America Sends Letter to CFPB Advocating for Distinction Between Digital Wallets and Passthrough Payment Platforms

Contact: Laine Williams, (202) 897-4757, [email protected] 

May 2, 2024, Washington, DC – The Financial Data and Technology Association of North America (FDATA), a trade association representing more than 30 financial technology companies and consumer-permissioned data access platforms in Canada and the United States, today sent a letter to the Consumer Financial Protection Bureau (CFPB or Bureau) addressing concerns in the Bureau’s approach to digital wallets and passthrough payment platforms in both its Notice of Proposed Rulemaking (NPRM) on Personal Financial Data Rights and its NPRM on Defining Larger Participants of a Market for General-Use Digital Consumer Payments.

The letter highlighted a critical oversight in the CFPB’s draft regulations, which grouped digital wallets—designed to hold consumer assets—with passthrough payment platforms that merely facilitate transactions via accounts at other financial institutions. FDATA emphasized that this conflation could compromise regulatory effectiveness, confuse consumers, and stifle innovation in the market, with key points from the letter including:

  • General Definitions: The proposed rules offered overly broad definitions for digital wallets that did not acknowledge the operational distinctions from passthrough payment services.
  • Regulatory and Consumer Impacts: The lack of distinction was criticized for potentially imposing undue regulatory burdens on passthrough platforms without offering additional consumer protections.
  • Call for Tailored Regulation: FDATA North America advocated for the CFPB to refine its regulations to accurately mirror the diverse functionalities within digital financial services, ensuring focused and effective consumer protections.
  • Concern Over Data Duplication: The current approach could lead to unnecessary and confusing duplications in regulatory data requirements.
  • Innovation at Risk: The letter emphasized the importance of a regulatory framework that understands the operational realities of digital finance to foster innovation and ensure consumer safety.
  • Plea for Precise Rulemaking: FDATA North America stressed the need for rulemakings that distinguish between the various digital financial services, benefiting consumers, providers, and the broader financial ecosystem.

FDATA called on the CFPB to exempt passthrough payment platforms from being considered data providers under its Personal Financial Data Rights rule and from the supervisory requirements set forth in its payments Larger Participant Rulemaking.

A full copy of the letter is available here.

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Video Member Spotlight: Xero

This member spotlight features FDATA NA Spotlight with Michael Cascone, Vice President, Government Experience, Americas, Xero. Michael shared insights on how Xero is championing Open Banking to alleviate the financial burdens on small business owners across North America.

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Video Member Spotlight: Ozone API

This member spotlight features Eyal Sivan, General Manager, North America, aka. Mr. Open Banking, Ozone API. Mr. Open Banking delves into how SMEs can leverage new offerings from their suppliers and enhance their own services to customers, unlocking new avenues for growth.

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