In November of last year the government of the UK set up the Open Banking Working Group (OBWG) to explore how banks and fintech firms can collaborate on an open API standard. The OBWG latest report is all about sharing bank data through such open APIs, allowing for an easier comparison of services and customization. This is a very different approach from US banks, who have recently been quarreling with fintech startups regarding the transfer of customer data. Be it from fear of losing customers or just very bad backend systems that can't handle the massive API calls, its clear that US banks have something to learn from the UK's initiative.