Regions Bank Enhances Customer Control of Financial Data with Axway Acceleration

Regions Bank has some exciting news for its Consumer Banking, Corporate Banking, and Wealth Management customers! The bank has teamed up with Axway, a data integration company, to introduce new open banking services through the Amplify Open Banking solution.

This partnership allows for secure sharing of financial data between Regions Bank and third-party service providers, giving customers more control over their information. Through open banking, customers can share their data with other financial institutions or service providers to better manage their finances. Currently, customers can use a process called “screen scraping” to authorize third-party platforms to access their financial data.

In the future, Regions Bank will enhance its digital banking experience with Amplify Open Banking, utilizing APIs to provide a more secure and seamless process for customers. With this new approach, clients can choose to share their financial data with third parties without the need for these platforms to save their banking credentials. Instead, Regions will authorize consent for each transaction, ensuring greater security and peace of mind for customers.

This exciting development will not only streamline the open banking process but also prioritize the security and privacy of customer data. Stay tuned for more updates on Regions Bank’s innovative new open banking capabilities!