Open Banking's Balancing Act

Large banks are learning how to better serve customers and "harmonize protections" with data sharing. We also look at the latest regulatory woes for BaaS-focused banks.

Good morning, Bank Slaters!

I’ve been very busy the last few weeks. I weighed in on the ongoing debate over Buy Now, Pay Later (BNPL) in a new Forbes Finance Council roundup, discussing BNPL’s flexibility and a need to monitor for overspending. Read more of that opinion here.

I am also finalizing a busy speaking schedule over the next few months. Excited to share more details on those appearances — and much more — in the coming weeks.

For now, let’s talk about open banking.

I just returned from American Banker’s Payments Forum. While I moderated a panel at the conference, I also wanted to learn more about the evolving payments ecosystem.

I found a lot of value in the open banking session, which featured executives from JPMorgan Chase and Bank of America. One comment stood out — it came from Allison Shonerd, BofA’s head of global digital disbursements: