What to Know About ‘Open Banking,’ Coming Soon in the U.S.
The banking industry took its time to transition from paper bills to plastic cards. Now its in the midst of a more rapid transformation: going digital. Banks are major data collectors. Illustration: Theerayut Kaenthao (Getty Images) U.S. banks have1 exabyte of stored data, or one billion gigabytes. Ready or not? Three-quarters of banks say they arent ready for open banking, according torecent datapublished by Sopra. The European Union has charged forward in open banking adoption, moving leaps and bounds ahead of the U....