What's holding banks back from open finance?

Open finance is moving from experimentation to execution as banks and credit unions look to modernize data sharing, strengthen security and meet rising consumer expectations. To better understand how the industry is approaching this shift, Akoya partnered with American Banker on new research examining the state of open finance adoption.

Based on a survey of more than 200 banking professionals across executive and technical roles, the research highlights where institutions are gaining traction with APIs, where legacy approaches like screen scraping still exist, and the operational challenges that continue to shape adoption strategies, particularly around third-party risk management. The findings offer a clear view into how institutions of different sizes are progressing and how leadership teams are aligning around open finance priorities.

Learn more in American Banker’s “Exclusive research: Banks, credit unions are on the precipice of an open finance shift.”