Joint lead author and editor — published by the Financial Data Exchange (FDX).
Getting Started with Open Banking is a business primer written for C-suite executives and boards of directors at financial institutions asking how their organizations can take advantage of open banking and open finance.
Open banking enables the secure sharing of financial data through customer-permissioned APIs — replacing legacy screen scraping with a standardized, consent-based model that reduces fraud risk and switching costs while improving the customer experience. The primer translates that shift into business terms:
- How customer-permissioned APIs replace screen scraping, and why it matters for risk and trust.
- Where value accrues across consumer, commercial, and wealth-management clients — from real-time cash positioning and ERP automation to embedded finance.
- The regulatory backdrop, including the CFPB’s consumer financial data rights and Section 1033 rulemaking.
- What it takes to get started: consent management, modern authentication and authorization, and the underlying technical infrastructure.