CFPB Unveils Rules to Guide Open Banking in the U.S.
The Consumer Financial Protection Bureau has announced its much-anticipated plans to shepherd the adoption of open banking in the United States. Third-party financial companies are the driving force behind the open-banking model. However, regulators, including the CFPB, have expressed ongoing concerns about the growing dependence on fintech companies that aren’t required to comply with conventional […]
Real-Time Payments to Have Their Biggest Impact in Pakistan and the Asia-Pacific
One of the paradoxes in the growth of real-time payments around the world is that the greatest adoption has not occurred in the most prosperous countries. Rather, it has happened in the countries with high levels of unbanked and underbanked consumers. That trend is expected continue over the next decade. According to a new report […]
In Search of the Fabled Walletless Day
We’ve all heard the story: someone at work or on a podcast shares how they—or perhaps a friend, or a friend of a friend—forgot their wallet at home one morning yet managed to navigate the day, buying lunch, commuting, and making purchases, all with just their phone. The moral is clear: the world is filled […]