Open banking is reshaping financial services, but selecting a data aggregation vendor is complex. A Cornerstone Advisors report outlines key factors: assess each vendor’s capability stack across connectivity, insights, and customer experiences; evaluate buyer-supplier relationships to avoid disruptions; and scrutinize customer service since connection issues are common. API quality and fit are crucial, as is focusing on pricing models rather than headline costs. Institutions should avoid vendor lock-in by seeking open, interoperable APIs and flexible contracts. Success depends on aligning vendor strengths with strategic needs to deliver reliable, innovative financial experiences.

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