Data transparency

The best solution to the current broken identity system is to flip the authentication process from third parties to the users themselves.

It’s highly debatable whether the artificial intelligence engines that online lenders typically use, and that banks are just starting to deploy, are capable of making credit decisions without inadvertent prejudices.

Under PSD2, banks are expected to admit all vetted comers, but how they will connect to them is up to the individual parties, writes Raz Rafaeli, CEO of Secret Double Octopus.

The companies will use an application programming interface to let Chase customers send the data to the apps Finicity supports, including personal financial services apps and income verification tools.

One might assume, wrongly, that the successful fintech entrepreneurs are millennials who are only creating lifestyle apps for their age bracket.

Readers sound off an attempt to block prepaid regulations, threats to consumer privacy, FSOC’s political bent, the proper use for SARs, and more.

With the reversal of Obama-era rules requiring user consent for data collection, it is more important than ever for U.S. banks and fintechs to demonstrate a robust and consistent approach to data privacy.

Issuers and merchants aren't collaborating enough on resolving disputes and managing bad charges. More transparency and collaboration will help.