How Open Banking Can Revolutionize Dated Banking Systems in the USby@udayakkaraju
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How Open Banking Can Revolutionize Dated Banking Systems in the US

by Uday Akkaraju7mMarch 4th, 2022
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The US banking system is falling behind its more glorious opponent: the world's emerging open banks. Open banking simply refers to sharing consumer data and exchanging that data smoothly with third-party services via open Application Programming Interface (API) technology. The biggest resistance so far has come from the banking sector itself – due to high investment costs, lack of IT staff to implement open API technology, and a lack of regulation. The reluctance of traditional financial institutions is a stumbling block to innovation, says Frida Ghitis.

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Uday Akkaraju

Uday Akkaraju

@udayakkaraju

Uday Akkaraju is the CEO of BOND.AI, an award-winning human-centered artificial intelligence platform for banks.

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Uday Akkaraju HackerNoon profile picture
Uday Akkaraju@udayakkaraju
Uday Akkaraju is the CEO of BOND.AI, an award-winning human-centered artificial intelligence platform for banks.

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