The Consumer Financial Protection Bureau (CFPB) has officially designated Financial Data Exchange (FDX) as a Standards Setting Body as of January 8, 2025. This landmark decision, following the release of Section 1033 last year, sets the stage for a regulated open banking framework in the United States.
This guide provides insight and direction to technology teams at banks, financial institutions and other financial data-holders in the US ecosystem who are preparing to comply with Section 1033.
Are you a bank or financial institution looking to select an open banking platform for compliance and commercial purposes? Here are a few considerations to guide you through the process.
Open banking is revolutionising finance worldwide, unlocking opportunities for innovation, collaboration, and better consumer experiences. As we approach the end of 2024, we share what our vision is for open banking in 2025 and beyond.
At Ozone API, 2024 was a year of impactful initiatives, where we raised funds and supported communities close to our hearts. Join us as we reflect on the highlights and celebrate the moments that truly mattered.
The CFPB’s new Personal Financial Data Rights rule marks a historic step for U.S. open banking, empowering consumers with control over their data and enabling secure third-party access. At Ozone API, we fully support this direction and have shared our insights with the CFPB, recommending a standardized security framework, certification processes, and service initiation to strengthen the open finance ecosystem.
The ‘Race to the Future: Open Finance PH Hackathon,’ event united innovators to drive financial inclusion in the Philippines. From retirement tools to financial health apps, this event highlighted open finance’s potential to reshape financial services for a more inclusive future.
We’re featuring Charlotte Livingston, our Global Head of People. Charlotte shares her experience and advice on embracing global diversity, how companies can thrive even when teams are spread across time zones, and how to retain top talent, plus lots more.
Explore why global interoperability is essential for Open Finance, addressing the need for standardised regulations, security standards, and infrastructure to overcome regional fragmentation and fully realise its benefits.