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ARTICLE · 30 SEPTEMBER 2020

What To Make Of Open Banking

Mayer Brown
Mayer Brown
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Mayer Brown

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A recent trend has been for financial institutions to enable account access through APIs.

United StatesFinance and Banking
Chris Chapman
Chris Chapman
Julian M. Dibbell
Julian M. Dibbell
Rohith George
Rohith George
Oliver Yaros
Oliver Yaros
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"Open banking" refers to the practice of banks providing application program interface ("API") access to customer accounts, allowing customers to access their account information and initiate transactions through a third party's user experience. Previously, these services relied on "screen scraping" and similar techniques for account access at many institutions. A recent trend has been for financial institutions to enable account access through APIs. Listen to this episode of Mayer Brown's Tech Talks Podcast as Chris Champan, Julian Dibbell, Rohith George and Oliver Yaros discuss trends, risks and rewards that may arise when using open banking techniques.

This podcast will be available on October 15.

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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