Finicity has been an open-banking catalyst for Mastercard. One new Mastercard product, called Payment Success Indicator, relies on bank account information provided by the consumer on an opt-in basis. The product was developed through open banking, or a process for sharing bank account information with third parties.

A merchant, bank, digital wallet or payment service provider uses this bank account information to access a consumer’s balance and historial behavioral risk pattern for each transaction. That informs the Payment Routing Optimizer, which recommends the right day and payment rail (such as same-day ACH or next-day ACH) that strikes a balance for cost, speed and risk.

Read more at American Banker.