Why open banking regulations and security matter to credit unions 2SHARES Account holder digital expectations are often being driven by innovative fintechs and credit unions have turned to open banking as an effective way to meet this demand through partnerships with third-party providers (TPPs). Open banking relies on the use of application programming interfaces (APIs) to boost performance and reduce latency, and as with any digital data-sharing process, security and consumer privacy are of top concern. The most recent F5 Labs research shows that the number of API security incidents is growing every year, and most API incidents during the last two years were related to a low level of security maturity, which is often caused by tool sprawl.