Skip to main content

Webinar

How Financial services are using open finance

From strategy to real-world impact — open finance is reshaping how financial services organizations innovate and grow.

View on-demand
Man holding his phone smiling looking off into the distance

Overview

Open finance is reshaping how financial services organizations grow, compete and serve customers. In this on-demand webinar, Mastercard and Citizens Bank discuss where open finance is delivering practical impact today — from recurring payments and digital account opening to deposit switching and more personalized customer journeys. The webinar focuses on real-world use cases; implementation learnings and the role trusted ecosystem partners can play in helping organizations turn permissioned data into measurable value.

The conversation builds on Mastercard’s latest “The State of Open Finance 2026” research, which found that 75% of executives report direct revenue uplift from open finance initiatives, reinforcing the opportunity for businesses to better leverage customer-consented data to drive growth.

Three key takeaways from the webinar:

  1. Open finance is already driving measurable growth. Organizations who are adopting open finance like Citizens Bank are leveraging use cases such as deposit switching and payment switching to unlock new revenue opportunities, strengthen customer retention, and support digital innovation.
  2. Execution matters as much as strategy. The session highlights the implementation priorities, planning decisions and partner support needed to move open finance from ambition to scalable delivery.
  3. Trust is the foundation for adoption. Transparency, customer control and a clear value exchange are essential to building confidence in permissioned data experiences and encouraging long-term engagement.

Trust is really the gatekeeper to adoption of open finance. If a customer doesn't feel confident sharing their data or how it's being handled, they're simply not going to use it for consumers, and for consumers their willingness to switch for better digital provider; that trust is paramount.

Tim Montgomery Senior Vice President, Open Finance Mastercard

This is all being accelerated by AI and agentic, where open finance can be that trusted foundation and consented consumer permissioning foundation layer to share their data in a safe and secure way so that our partners and consumers can leverage technologies like AI to really tap into the power of that data; to power the next evolution of financial services.

Tim Montgomery Senior Vice President, Open Finance Mastercard

A proven open finance path: How Citizens accelerated account primacy

For Citizens Bank, winning primacy meant becoming the customer’s main account for everyday deposits and spending. While the bank attracted new account openings, some relationships stalled early when customers had not yet moved payroll or recurring payments into their new accounts.

To address this, Citizens partnered with Mastercard to embed Deposit Switch and Payment Switch into its digital onboarding experience, helping customers move direct deposits and recurring payments through a more streamlined digital journey.

The results show the impact of reducing friction in moments that matter:

21%

conversion rate for Deposit Switch during the early deployment period.

20%

conversion rate for Payment Switch throughout the initial rollout.

Related webinars

Results