Banks stand to benefit as much as fintechs in a new era of open banking, with consumer financial data flowing freely between the two, generating new insights about the market, fintech executives said Thursday. “The big misunderstanding is that it’s fintech versus bank, and we definitely don’t see it that way,” said Ryan Caldwell, the founder and chief executive of MX Technologies, a Lehi, Utah-based data aggregation company. “There’s this confusion that it’s data going one way, as if there’s just data leaving the bank. That’s not what’s happening.”
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