“Open banking to survive Trump, fintechs say”

Lauren Quigley was quoted in the Payments Dive article, “Open banking to survive Trump, fintechs say.” In the article, Quigley shared that banks fall into three general categories in terms of their approach to open banking:

• those that have identified “beneficial use cases” and are forging ahead, regardless of the rule’s status.
• those that are largely ambivalent and don’t see a “use case” for it, she said, and are pursuing technology investments and partnerships only because of the requirement.
• smaller financial institutions that have a longer compliance deadline, years away, that “are just biding their time at this point.”