Open finance is rapidly advancing globally, yet the U.S. is falling behind due to a lack of standardized data protocols and collaborative models. Successful financial institutions are embracing interoperability, cross-industry monetization, and effective governance to unlock new revenue streams and foster innovation. These strategies are essential for thriving in the evolving financial landscape.

Citizens has launched new features aimed at simplifying payment management through its mobile app, enabling users to update payment methods with major billers and manage direct deposits seamlessly. These innovations are designed to enhance customer experience by reducing friction and improving engagement, all while aligning with the bank’s commitment to customer-centric innovation and open finance principles.