Amplify Open Banking gives you the tools to accelerate your open banking strategy and rise to the evolving challenges of regulatory compliance, consumer trust, and operational efficiency.
Bringing the future of open banking and finance together
Amplify Open Banking combines an intuitive developer experience with regulatory compliance and secure data management.
Comply with the CFPB Dodd-Frank Act Section 1033
Enforcement of new regulations granting U.S. consumers the right to access and share their financial data kicks in by the end of 2024. Amplify Open Banking and Finance helps you comply by eliminating screen scraping and strengthening consumer consent.
Amplify Open Banking provides prebuilt APIs that comply with key regulations such as the CFPB Dodd-Frank Act Section 1033. The platform eliminates insecure data practices like screen scraping and enhances consumer consent management. This simplifies legal reporting, ensuring that financial institutions can meet evolving regulatory requirements while maintaining security.
Using APIs for open banking integration offers several advantages, including secure data access, reduced operational disruption, and faster time to revenue. With Amplify Open Banking, financial institutions can easily manage customer data, integrate new digital services, and build secure collaborations with fintech partners, allowing them to expand their services and boost customer satisfaction.