{"title":"开放银行对美国金融业的影响","authors":"Tatiana Chadaeva","doi":"10.18254/s207054760007179-3","DOIUrl":null,"url":null,"abstract":"The article considers the impact of open banking on the banking industry in the United States and other countries. The role of digital technologies in the implementation of open banking is revealed. The legislative acts that require EU banks to join the open banking system are considered. The reasons that retard the development of open banking in the United States, were studied. There was assessed a role of fintech giants and fintech startups in the development of digital technologies in the banking industry and the transition to open banking. The need for introduction of open banking is necessary due to external reasons the emergence of companies that provide banking services related to accounting and payment tracking, the necessity to satisfy the needs of customers who are using digital technologies. Opportunities and risks for large, medium and small banks were considered. Small banks will meet difficulties if compete with medium and small banks due to lack of resources. The open banking development is impossible without technology of application programming interfaces (APIs) and interaction of banks with fintech giants and startups. Particular attention is paid to the role of regulatory authorities in the implementation of open banking in the European Union, the adoption of the Payment Services Directive PSD2. In the USA, the problems in the development of open banking are recognized due to the reluctance of many banks to provide third-party companies with access to customer accounts and the fragmentation of the US regulatory system that regulates the activities of fintech companies. Traditional banks may be transformed in three ways: bank as a platform, bank as an integrator, bank as a producer.","PeriodicalId":234634,"journal":{"name":"Russia and America in the 21st Century","volume":"87 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2019-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"The Impact of Open Banking on the US Finance Industry\",\"authors\":\"Tatiana Chadaeva\",\"doi\":\"10.18254/s207054760007179-3\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"The article considers the impact of open banking on the banking industry in the United States and other countries. The role of digital technologies in the implementation of open banking is revealed. The legislative acts that require EU banks to join the open banking system are considered. The reasons that retard the development of open banking in the United States, were studied. There was assessed a role of fintech giants and fintech startups in the development of digital technologies in the banking industry and the transition to open banking. The need for introduction of open banking is necessary due to external reasons the emergence of companies that provide banking services related to accounting and payment tracking, the necessity to satisfy the needs of customers who are using digital technologies. Opportunities and risks for large, medium and small banks were considered. Small banks will meet difficulties if compete with medium and small banks due to lack of resources. The open banking development is impossible without technology of application programming interfaces (APIs) and interaction of banks with fintech giants and startups. Particular attention is paid to the role of regulatory authorities in the implementation of open banking in the European Union, the adoption of the Payment Services Directive PSD2. In the USA, the problems in the development of open banking are recognized due to the reluctance of many banks to provide third-party companies with access to customer accounts and the fragmentation of the US regulatory system that regulates the activities of fintech companies. Traditional banks may be transformed in three ways: bank as a platform, bank as an integrator, bank as a producer.\",\"PeriodicalId\":234634,\"journal\":{\"name\":\"Russia and America in the 21st Century\",\"volume\":\"87 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2019-10-29\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Russia and America in the 21st Century\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.18254/s207054760007179-3\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Russia and America in the 21st Century","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.18254/s207054760007179-3","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
The Impact of Open Banking on the US Finance Industry
The article considers the impact of open banking on the banking industry in the United States and other countries. The role of digital technologies in the implementation of open banking is revealed. The legislative acts that require EU banks to join the open banking system are considered. The reasons that retard the development of open banking in the United States, were studied. There was assessed a role of fintech giants and fintech startups in the development of digital technologies in the banking industry and the transition to open banking. The need for introduction of open banking is necessary due to external reasons the emergence of companies that provide banking services related to accounting and payment tracking, the necessity to satisfy the needs of customers who are using digital technologies. Opportunities and risks for large, medium and small banks were considered. Small banks will meet difficulties if compete with medium and small banks due to lack of resources. The open banking development is impossible without technology of application programming interfaces (APIs) and interaction of banks with fintech giants and startups. Particular attention is paid to the role of regulatory authorities in the implementation of open banking in the European Union, the adoption of the Payment Services Directive PSD2. In the USA, the problems in the development of open banking are recognized due to the reluctance of many banks to provide third-party companies with access to customer accounts and the fragmentation of the US regulatory system that regulates the activities of fintech companies. Traditional banks may be transformed in three ways: bank as a platform, bank as an integrator, bank as a producer.