OPEN BANKING: Prior to the EU's new data privacy and open banking regulations, banks acted as if they knew exactly what their clients needed and didn't need to pay attention to other market segments; they no longer have that luxury. (Foto: Pixabay)

EU regulation will drive U.S. banks to embrace FinTech or lose market share

IDG NEWS: Europe's financial services industry has been forced to embrace open banking and customer data sharing. Now, with PSD2, U.S. banks will soon have to follow suit or face increased online competition.

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