Open banking is oftentimes perceived as a trend taking place in Europe but that is lacking adoption in the United States. The reality is that it is very much a part of the financial services landscape in the U.S., but its proliferation is driven by a different source than in Europe. Due to European regulators predicting a boom in open banking, the EU drafted PSD2 (Payment Services Directive 2) while the U.K. released their version known as OBI (Open Banking Implementation) in order to get in front of the phenomenon with regulations and guidelines. In the United States, the Treasury has agreed to draft guidelines and recommendations, but there is no law or regulation in America that drives open banking forward. However, one doesn’t have to look further than the number of Third-Party Providers (TPPs) affecting consumer and business banking in the U.S. to realize that the trend has taken hold in the states as well.