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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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FDATA North America Statement on Budget 2024 Initiating Consumer-Driven Banking Framework

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

Washington, DC, April 16, 2024 – 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 applauded the government’s inclusion of a framework to deliver consumer-driven banking as part of Budget 2024.

FDATA North America, which has long advocated for consumer and small business benefits that an open finance framework will deliver for Canadians, commended the government for outlining a detailed vision of the design of open finance in Canada and a commitment to begin implementing the system through legislation this spring and announcing its intention to create an open finance framework in Canada that is interoperable with the framework that the U.S. Consumer Financial Protection Bureau will finalize later this year. As the government begins its work to finally deliver open finance in Canada in 2025, FDATA North America encourages the Department of Finance to include small business accounts under the scope of the framework to ensure that Canadian SMEs receive the same open finance benefits as consumers.

Steve Boms, Executive Director of FDATA, released the following statement:

“We are greatly encouraged by the Government of Canada’s commitment to advance open finance in Canada. The inclusion of Consumer Driven Banking in Budget 2024 marks a significant step for the financial empowerment of consumers and small and medium-sized enterprises. Once successfully implemented, this will foster a more innovative Canadian financial services marketplace, and promote a fairer and more inclusive financial services ecosystem. It reflects a global trend towards consumer-centric financial services and brings Canada in line with the regimes established by nearly every other G-7 nation.

We applaud the comprehensive framework announced in the budget and look forward to working closely with the government as it actualizes open finance to benefit Canadian consumers and small businesses.”

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Video Member Spotlight: ByAllAccounts

This member spotlight features Brian Costello, Head of ByAllAccounts Data Aggregation Strategy and Governance, Morningstar Wealth. Brian tells us how ByAllAccounts’s role in providing connectivity of consumer-permissioned financial data is critical in realizing the full potential of this data and explains ByAllAccounts’s high level of engagement with policymakers to promote finalization of the Dodd-Frank Section 1033 rulemaking.

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FDATA North America April Newsletter

FDATA North America Monthly Newsletter for April 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 NA Sends Letter to Wyoming Governor Mark Gordon and Wyoming Legislators Urging Revision of Open Banking Legislation. On March 15, 2024, the Financial Data and Technology Association of North America (FDATA) sent a letter to Wyoming Governor Mark Gordon and legislators, including Representatives Cyrus Western, Daniel Singh, Mike Yin, and Senators Alfie Ellis, Tara Nethercott, Chris Rothfuss. The letter, motivated by the recent enactment of HB 145, raised concerns over its alignment with the essential tenets of open banking, particularly the principle that allows consumers and small businesses complete control over the sharing of their financial data. As a globally recognized advocate for consumer-permissioned, third-party access to financial data, FDATA underscored the importance of revising Wyoming’s open banking legislation to reflect global best practices. With the Consumer Financial Protection Bureau on the verge of implementing a federal open banking framework, FDATA offered to provide input and collaborate with Governor Gordon and the state’s legislators to explore solutions that could establish Wyoming’s open banking regulations as a model for consumer empowerment and market competitiveness. FDATA released a statement on its submission of the letter, which can be found here.

Member News & Activity

API Metrics published a blog highlighting the importance of interoperability in the digital transformation of financial services. Through their advanced solutions and involvement in standards bodies like FDX and the OpenID Foundation, APIContext is leading the way in fostering financial inclusivity and innovation by ensuring APIs are built with open standards, focusing on reliability, security, and meeting the challenges of Open Banking standards.

Basis Theory published a blog emphasizing their commitment to security, especially in protecting Personal Health Information and other sensitive data, highlighting recent achievements of SOC2 Type1+HIPAA and ISO 27001 certifications. These certifications demonstrate their adherence to stringent security standards and regulations, ensuring the protection and compliance of user data through technical and organizational safeguards.

Codat posted a blog underscoring the potential of banking data as a key asset in the lending industry for making informed decisions on creditworthiness. The blog emphasized the need for lenders to automate the processing and categorization of banking data to unlock actionable insights and improve underwriting efficiency, highlighting Codat’s role in simplifying this process through its technology that connects open banking and accounting data for enhanced decision-making.

Envestnet Yodlee posted a blog discussing the burgeoning interest in open banking within South Africa as part of a global trend toward increased data-sharing and financial innovation. The blog highlighted South Africa’s potential to lead in open banking, given its Financial Sector Conduct Authority’s interest in an Open Finance regime, the proactive stance of major banks, and the opportunity to enhance financial inclusion for the unbanked or underbanked, promising a series of deeper explorations into the benefits and regulations of open banking in the region.

Flinks published a blog detailing the growing momentum of Open Banking in Canada, driven by consumer and business demand for personalized financial services and the Canadian government’s commitment to establishing a consumer-driven banking framework. Highlighting Flinks’ role in facilitating this transition, the blog showcased their partnerships and contributions to developing Open Banking capabilities, positioning them as a key player in enhancing financial innovation, competition, and consumer choice in Canada’s financial ecosystem.

GoCardless published a press release announcing its approval as a supplier on the Crown Commercial Service’s Open Banking Dynamic Purchasing System framework, enabling it to bid for account information and payment initiation services tenders from UK public sector bodies. This inclusion marks a significant step for GoCardless, allowing it to expand its strategic opportunities within government sectors and strengthen its presence in the charity sector.

MX published a blog addressing the struggle of many financial providers to fully utilize consumer financial data for enhancing customer and business outcomes. Highlighting findings from a Forrester Consulting study, the blog underscored the critical need for financial institutions to embrace data intelligence, invest in breaking down data silos, and leverage technology and partnerships to unlock the transformative potential of this data for improved personalization and decision-making.

Plaid published a blog detailing how integrating with Plaid’s Payment Initiation services helped Paysend, a global payment platform, to overcome challenges in customer bank account top-ups, resulting in a 125% increase in transaction volume within a year. The partnership enabled Paysend to offer instant bank transfers, significantly improving customer satisfaction and expanding their service with successful launches in the UK and plans for further expansion across the European Union.

Trustly posted a blog highlighting the advantages of ACH autopay for billers, emphasizing its potential to significantly reduce processing fees compared to card payments, thereby maximizing revenue and safeguarding cash flow. The blog also discussed how leveraging Open Banking can address the inefficiencies of traditional ACH setups by providing a streamlined user experience, reducing manual input, and enhancing security, ultimately increasing ACH autopay adoption among customers.

VoPay was featured in a PYMNTS article announcing its partnership with Cross River Bank to expand its embedded payments technology into the U.S. market, providing VoPay with access to major payment rails and networks along with Cross River’s regulatory expertise. This collaboration aligns with VoPay’s goal of delivering innovative financial solutions and will enable the company to offer a wider range of payment services including ACH, Same-Day ACH, RTP, FedNow® Service, and Pull-from-Card, enhancing its North American service offerings.

Events and Submission Deadlines

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FDATA North America Sends Letter to Wyoming Governor Mark Gordon and Wyoming Legislators Urging Revision of Open Banking Legislation

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

March 15, 2024 Washington, DC – The Financial Data and Technology Association of North America (FDATA) today sent a letter to Wyoming Governor Mark Gordon and Wyoming legislators including Representative Cyrus Western, Representative Daniel Singh, Representative Mike Yin, Senator Alfie Ellis, Senator Tara Nethercott, and Senator Chris Rothfuss, highlighting concerns about a Wyoming bill (HB 145) that was recently enacted into law and offering to provide input into Wyoming’s open banking regulations and financial innovation agenda.

As a leading advocate for consumer-permissioned, third-party access to financial data globally, our letter underscored the importance of aligning Wyoming’s open banking framework with global best practices, which provide complete control to consumers and small businesses over what data they decide to share with third parties. We pointed out that HB 145 deviates from this important open banking tenet.

As the Consumer Financial Protection Bureau moves to implement a federal open banking framework later through rulemaking later this year, we offered to engage in further discussions with Governor Gordon and the legislators to explore solutions that would make Wyoming’s open banking regulations a model for consumer empowerment and market competitiveness.

A full copy of the letter is available here.

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FDATA North America March Newsletter

FDATA North America Monthly Newsletter for March 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 NA Submits Comments to Canada’s Pre-Budget Consultations 2024. On February 9, 2024, FDATA NA submitted comments to Canada’s Department of Finance as part of its pre-budget consultations for Budget 2024. The submission advocated for Canada to enhance the inclusion of consumer-driven banking (CDB) outlined in the 2023 Fall Economic Statement, aiming for a comprehensive Canadian open finance framework. Our comments also called on the Canadian government to legislate a CDB Framework in Budget 2024, establish a robust governance entity to oversee this framework, and outline a vision for open finance, signifying the next advancement in financial services. The submission noted that the proposed governance entity should be neutral, transparent, capable of making quick, binding decisions, and accountable, ensuring the framework’s success and sustainability while promoting market innovation and competition for the benefit of Canadian consumers and SMEs. FDATA released a statement on its submission of the comment letter, which can be found here.

FDATA NA Submits Comments to Canada’s Consultation on Strengthening Competition in the Financial Sector. On February 28, 2024, FDATA NA submitted comments to Canada’s Department of Finance regarding the consultation on strengthening competition in the financial sector. Our comments outlined four initiatives crucial for creating a more inclusive, innovative, and competitive financial ecosystem: 1) advancing Consumer-Driven Finance (CDF) and adopting an open banking regime to empower consumers and SMEs with control over their financial data; 2) accelerating the deployment of the Real-Time Rail (RTR) to modernize payment infrastructure, enabling instant payment processing; 3) implementing the Retail Payment Activities Act (RPAA) regulations for payment service providers (PSPs) within a robust regulatory framework to enhance payment system security and efficiency; and 4) amending the Canadian Payments Act (CP Act) to allow non-bank payment providers direct access to payment rails. FDATA released a statement on its submission of the comment letter, which can be found here.

Member News & Activity

API Metrics published a blog post announcing the formation of APIContext Inc., a merger between APImetrics Inc and Contxt Ltd, to offer comprehensive solutions for API oversight and integrity. The newly formed company aims to address the challenges of creating reliable, productized APIs by providing end-to-end visibility, proactive risk measures, and comprehensive monitoring capabilities to empower businesses.

Basis Theory posted a blog explaining the intricacies of global payment processing, highlighting its necessity for e-commerce businesses to reach an international customer base and the variety of services offered by global payment processors to facilitate cross-border transactions efficiently. The blog emphasized the importance of selecting the right global payment processor, considering factors such as supported currencies, fees, security, and integration capabilities, to enable businesses to cater to global markets effectively.

Betterment’s VP of Legal, Joshua Rubin, discussed on the #inSecuritiespod how the company navigates the complex regulatory landscape, including its approach to the fiduciary rule, by addressing overlapping regulations and explaining why their stance sometimes diverges from the broader financial services industry’s perspective on rulemaking proposals.

EQ Bank was mentioned in a Business Wire article for partnering with Trulioo, an industry-leading identity verification platform, to streamline its digital banking onboarding process. This partnership enables EQ Bank to provide a frictionless customer experience with enhanced security and compliance, utilizing Trulioo’s advanced document verification, AI checks, and customizable workflow solutions.

Flinks posted a blog highlighting the growing importance of Account-to-Account (A2A) payments, describing them as a significant evolution in the financial transaction landscape. A2A payments, which enable direct fund transfers between accounts and bypass traditional intermediaries, are gaining traction due to their speed, cost efficiency, and enhanced security, supported by financial institutions, fintech companies, and payment processors.

GoCardless published a blog post announcing the extension of its partnership with Dyce Energy, a UK-based energy provider, for an additional three years, for easy bill collection through Direct Debit payments.

Inverite was mentioned in a BNN article for its advancements in the fintech and alternative lending sectors through its Open Banking Platform. The article noted that Inverite is revolutionizing consumer directed banking, providing innovative solutions for data enrichment, identity verification, risk management, and compliance, thereby transforming the alternative credit economy.

Morningstar Wealth published a blog highlighting the significance of diversity, equity, and inclusion (DEI) within the U.S. financial data-sharing ecosystem, particularly focusing on the evolving open banking system. Brian Costello, Head of Data Aggregation Strategy and Governance at ByAllAccounts, emphasized the importance of empowering consumers with greater control over their financial data to support innovation in financial services, advocating for a holistic approach that promotes DEI in financial product design and implementation to ensure the financial well-being of all.

MX published a blog summarizing the ten key themes of the Consumer Financial Protection Bureau’s proposed rulemaking on personal financial data rights, including concerns about the scope of data covered, restrictions on secondary use cases, ambiguity in liability definitions, the potential for charging fees, the need for technical and interface standards, transitioning from screen scraping, consent and authentication protocols, tokenized account numbers, overlaps with existing regulations like Fair Credit Reporting Act and Gramm–Leach–Bliley Act, and concerns about the proposed compliance timeline.

Trustly’s Matt Janiga, Legal Counsel and Director of Regulatory and Public Affairs, published a blog applauding the CFPB’s efforts in advancing Open Banking through Section 1033 of the Dodd-Frank Act, while offering suggestions to improve the proposal for a more inclusive Open Banking ecosystem. Janiga emphasized the need for adjustments in areas such as data-sharing duration to align with consumer expectations, the practicality and security concerns around Tokenized Account Numbers (TANs), the importance of allowing safe, pro-consumer secondary data usage, and enhancing consumer experiences through better API standards and fallback options.

Ozone API was mentioned in The Paypers article for partnering with CLOWD9 to enhance their services to clients, combining Ozone API’s expertise in facilitating Open Banking innovations with CLOWD9’s payments processing platform. The article noted that the collaboration aims to create a comprehensive ecosystem to support banks and financial institutions in adapting to the evolving landscape of Open Finance, promising to foster growth and innovation within the industry.

Events and Submission Deadlines

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