Open Banking in North America is evolving from an environment dominated by unregulated data collection towards structured, API-driven models that enable secure data sharing, regulatory alignment and new business value. As consumer expectations shift towards connected, real-time financial services, API‑first Open Banking is increasingly central to enhanced customer experiences, Banking‑as‑a‑Service models and long-term competitiveness, despite ongoing regulatory review.

This white paper explores:

• How API‑driven Open Banking is transforming customer experiences
  API‑first architectures enable real-time data sharing, faster integration and new digital use cases across payments, lending, investments and personal financial management.

• The rise of Banking‑as‑a‑Service (BaaS) models
  Open Banking APIs support embedded finance, marketplace banking and data monetisation, extending banking services to non‑financial players.

• The regulatory impact of CFPB Section 1033
  An overview of the evolving U.S. regulatory landscape, including the withdrawal of the 2024 rule and the implications of the ongoing rulemaking process.

• Security, risk and consumer protection foundations
  Key requirements such as strong authentication, consent management, encryption and third‑party risk oversight in Open Banking ecosystems.

• How banks can prepare amid regulatory uncertainty
  Practical guidance on building API‑first, security‑by‑design foundations while preparing for multiple regulatory scenarios.

• The enabling role of technology platforms
  How HPS’s PowerCARD supports secure, compliant and scalable Open Banking and BaaS implementation in North America.

Download the full report to understand how Open Banking in North America is moving from access to impact, and how financial institutions can turn regulatory change into a catalyst for innovation and growth.