“Over the next six to 12 months, you’re going to see possibly as much as 70% of deposits here in the U.S. available in open banking API rails,” said Lowell Putnam, chief executive of Quovo, a data aggregator that works with banks and fintechs such as Betterment, SoFi, Stash and Wealthfront, and is the first U.S.-based financial data provider to become registered under the U.K.’s Open Banking regime.
Quovo in the News
Media resources and recent coverage
In an article for American Banker, CEO Lowell Putnam argues that the fintech industry should look to the "Schumer box" on credit card agreements as a model for how to gain clear and conspicuous consumer consent to financial data sharing.
Quovo CEO Lowell Putnam discusses the US Treasury Department's fintech report and what it means for data sharing.
Quovo CEO Lowell Putnam and Information Security Manager Peter David argue that more financial institutions need to adopt OAuth protocols to reduce credential sharing.