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ReadersSpeak

Open banking intermediaries function of these intermediaries as follows: "As a market
segment, intermediaries offer services across a broad
'm looking for information about what open bank- spectrum, but individually, they will often specialize. A
ing intermediaries are and what they have to offer. few help banks build APIs to comply with open banking
My primary ISO has a great set of offerings to regulations; others focus on customer-facing propositions
I choose from, so I have no need of something extra and innovation through white-label apps and third-party
or more advanced at the moment, but given amazing innovation marketplaces; and a couple are particularly
rate of change in payments, I make it a point to research strong in payments."
things that might be of use in the future or that might just
be good to know about for context as things develop. Can Intermediaries were evaluated on aggregation services,
you help? value-added services, consent lifecycle, deployment
Asher Reed flexibility, third-party onboarding and verification,
Merchant Level Salesperson developer experience, innovation ecosystem and vision.
Asher, Notably, Forrester found that Plaid has the strongest
all around capability, footprint and vision. "Plaid has
Thank you for your commitment to ongoing education. a long pedigree of data aggregation, scoring highly for
Open banking intermediaries provide services designed flexible deployment via banking platforms and payment
to speed innovation in open banking. With government networks," researchers wrote. "Plaid's dominant coverage
backing, open banking has made great strides in the EU enables it to launch value-added solutions like the open
market; in the United States it hasn't been fully embraced. data ecosystem Plaid Exchange and attract over 100
That said, it is a growing part of the financial services platform partners in the US."
fabric. You will likely be interested in a report published Editor
in March 2021 by Forrester and titled The Forrester New
Wave: Open Banking Intermediaries, Q1 2021. It evaluates Open banking and you
nine leading open banking intermediaries identified What's your experience with open banking? What potential
by researchers as the "Most significant providers" in does it have? Tell us about this and other compelling
the category. The report's introduction explains the innovations at greensheet@greensheet.com.

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