Born during the sunset of Silicon Valley’s Golden Years, Open Banking is now maturing into one of the most profound ideas in fintech today, and it’s poised to take 2024 by storm.

The union between fintech providers and affiliate marketing was arguably 2023’s biggest love story – in our world, at least. 

Buy Now, Pay Later has become a monumental driver of incremental growth in the affiliate space and card-linked offers are significantly piquing the interest of consumers.

But there’s a new kid on the block. Open Banking has been building a reputation for itself in the UK, Europe, and Australia over the past few years, but its entrance into the US market toward the end of 2023 is what could be a real game changer.

There are immense opportunities for brands and consumers are already getting on board. So, what is this new channel, and is it worth investing in?

The Cathedral and the Bazaar

Initially, the idea of Open Banking developed from the open innovation movement.

Largely led by theorist and adjunct professor Henry Chesbrough, this movement took off in the early ‘00s, promoting a more free and collaborative approach to data and technology.

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