Open banking in US sees 'groundswell' of demand

Core provider Jack Henry’s open banking strategy will facilitate a fintech-enabled digital ecosystem for community banks as a response to a widespread shift in the financial services landscape.  The fintech disruptions and digital innovation that have caused sweeping changes in financial services have pushed local and regional banks to adjust. As community banks manage the shifting landscape, they must also take notice of the consumer push for open banking, Jack Henry Chief Executive David Foss says in this episode of “The Buzz” podcast. “There's been this real groundswell of open banking demand in the United States,” Foss tells Bank Automation News. “People are telling their financial institution that if they can't get data out of their financial institution to share with whoever they need to share it with, they'll find a different financial institution.” Listen as Foss shares the details of Jack Henry’s open banking roadmap, along with observations on the implementation of digital banking innovations.