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Mastercard Partners with Argyle to Streamline Lending Through Enhanced Open Banking Platform

Mastercard has enhanced its open banking platform through a partnership with Argyle to streamline lending processes, particularly for the 19% of Americans outside traditional credit systems. While 90% of consumers with limited credit history are willing to share financial data digitally for loan approval, overall open banking adoption remains low at just 11%, with security concerns affecting 56% of non-users, especially older demographics.