Christopher Brown of Fiserv: Lenders Warm Up to Open Banking

In the lending industry, open banking, which typically involves the use of application programming interfaces to connect various systems in the cloud, already has a strong foothold. Now, as the federal government and other high profile financial services providers have embraced the cloud, lenders increasingly consider open banking a safe and efficient option to hosting services in their own data centers. This is a positive development for reasons that benefit borrowers and lenders alike.