U.S. banks are smart to take their time in embracing a model that cedes space to nonbank competitors and could put consumers more at risk for identity theft.
Large financial services firms are right to fight data-aggregation access, but they'll lose this fight to arguments based on innovation and "inclusion" if they do not quickly enhance their own value proposition.
President-elect Trump faces legal questions over his idea to hold remittances ransom to fund a wall in Mexico, but the industry should take the threat seriously.
Consumers' providing bank credentials to third-party services is akin to handing over their house keys. To mitigate screen-scraping risks, banks and fintech companies must first address issues related to security, transparency and control.
With access to financial transaction data under threat by hurdles imposed by certain financial institutions, it should be up to consumers to decide how their data is used to improve their financial well-being.
Many assume that a smart contract is something totally new. However, banking has used imperfect implementations of smart contracts for at least three decades.
