Fintechs split on 'hybrid model' of open banking

Fintechs divided over open-banking laws. (Image: Depositphotos)

Tue, 16 Dec 2025

Fintechs offering modern and legacy open-banking technologies are at odds over whether a regulatory window for coexistence aligns with the spirit of governing legislation.API-led fintechs say they meet the spirit of the Customer and Product Data (CPD) Act, but that a ‘hybrid model’ of open-banking transition doesn’t, because it includes competitors using third-party impersonation (TPI) tools, which critics describe as risky.“It [the ‘hybrid model’] undermines the act’s purpose of secure, controlled, con...

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