The Facts About Rule 1033 + What Recent CFPB Changes Mean For Your Open Banking Strategy In 2025
Full analysis here: https://blog.axway.com/industry-insights/banking-finance/cfpb-news-open-banking-strategy?utm_source=linkedin&utm_medium=social&utm_content=teaser_cfpb_facts What's really happening with the CFPB open banking rule? Axway’s Brian Otten breaks it down and reveals why innovative financial institutions aren't waiting for regulations to evolve. You’ll learn: 🏛️ Latest CFPB changes and what they mean for Rule 1033 🤝 How 94M+ consumers and counting are already using open banking APIs 💡 Why market leaders are moving beyond compliance to innovation The future of banking isn't about checking boxes – it's about seizing opportunities. Transcript: “Despite headlines at the Consumer Financial Protection Bureau, the U.S. Open Banking Rule 1033 remains valid law, requiring financial institutions to start providing consumer data access. But that's not what's driving open banking adoption in the U.S. 94 million North American consumers are already using FDX open banking APIs through market-driven collaboration, not regulation. Some may focus on compliance constraints, but industry leaders are using open banking to unlock new revenue streams and customer experiences. The question isn't whether to embrace open banking – it's how quickly you can get your API house in order, to capitalize on this transformation. Let's shape the future of banking, together, with Amplify Open Banking.” #OpenBanking #FinancialServices #Banking #Innovation #FinTech #CFPB
