Americans increasingly manage their money online, often using fintech apps that access consumers’ financial data.
The current system of data aggregation and sharing limits consumer control and puts data privacy at risk.
The Clearing House set out to increase awareness and facilitate solutions to address data privacy issues.
The goal is to act in the best interest of consumers, enhance safety and foster efficiency in financial services.
To make this shift, The Clearing House is advocating for new technology standards and infrastructure, risk management requirements and legal agreements, and ongoing industry collaboration – collectively known as Connected Banking.
Connected Banking White Paper: Enabling Innovation and customer control through a more secure exchange of financial data
Mobile apps have grown at tremendous pace, taking hold of countless areas of American life and offering consumers unprecedented levels of convenience. Read More
Today, The Clearing House (TCH) is releasing a Model Agreement to help financial institutions and fintech companies establish legal terms for the sharing of bank-held consumer data. Read More
Nearly one-third of U.S. banking consumers use online and mobile fintech apps to help manage… Read More