FDATA calls for a principles-led framework for the next generation of Open Finance
What's happening
FDATA (Financial Data and Technology Association) released a white paper proposing a principles-led framework to govern agentic and AI-powered fintech tools as the next generation of Open Finance. The paper aims to give policymakers guidance for regulating AI and agentic features in fintech products. The announcement arrives amid broader industry discussion about data quality and decision intelligence, including calls from Bank of America and PYMNTS pieces stressing that poor financial data and weak workflows are the main barriers to safe, effective AI adoption in finance.
Why it's trending
Regulators and industry are racing to set rules as AI-powered, agentic fintech tools move from concept to production and expose gaps in data, governance, and workflows.
SignalHolding at its usual pace, confirmed across 1 independent source type.
Story volume
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If your product uses agentic AI, FDATA just gave regulators a checklist you need to design for now, not later, read it and rebuild around those principles today instead of after a compliance headache hits tomorrow.
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Original sources6
- FDATA calls for a principles-led framework for the next generation of Open Finance
The Financial Data and Technology Association (FDATA) has released a white paper providing policymakers with a framework for governing agentic and AI-powered fintech tools. Source
Open Banking ExpoJul 23 - Bad Financial Data Is AI’s Biggest Liability
Watch more: Summer School With Fynapse’s Ben Catterall Artificial intelligence may dominate boardroom discussions, but payments companies face a more basic challenge. They already possess enormous amounts of financial data. The harder task is turning that information into something finance teams can trust. That theme anchored the latest installment of the PYMNTS Summer School series, […] The
PYMNTSJul 23 - The Future of Finance Depends on Better Workflows, Not Better AI
Watch more: Finance Leaders as Context Architects Artificial intelligence is not creating a finance revolution as much as it is conducting an audit. John Landy, chief technology officer at Billtrust, told PYMNTS that the lesson chief financial officers should carry forward from previous waves of digital transformation is straightforward. AI cannot compensate for poor enterprise […] The post
PYMNTSJul 23
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