“While residents in Europe can connect all their accounts and get personalized financial advice, immigrants are left managing fragmented systems.”

Imagine being able to link all your financial accounts in one app, receiving personalized advice on where to save, invest, and even find the best loan options—all without spending a penny! That’s the power of Open Banking, and it’s happening right now. With just a few taps, people in Spain, for example, can connect their bank accounts into one platform. Apps like Fintonic or Revolut analyze your spending habits, track where you’re overspending, offer personalized suggestions, and even recommend the best credit options—all without needing to consult a financial advisor.

But the real advantage of Open Banking is having all your accounts in one place. That’s where the best optimization come from: seeing a complete picture of your finances, no matter where your money is located. But here’s the thing: for immigrants like me, who have other accounts outside of Europe, this benefit just isn’t available. Without the ability to connect accounts from regions like the U.S., individuals are left managing their finances in fragments and unable to fully optimize their decisions.We’re missing out on important advice for saving on international transfers and managing investments across borders. While residents in Europe can connect all their accounts and get personalized financial advice, immigrants are left managing fragmented systems, making it difficult to optimize their finances.

If Open Banking were expanded globally, it would be a game changer. Immigrants could not only consolidate all their accounts, but also get real-time recommendations for international transfers, find the lowest fees, and receive both short- and long-term investment advice—all within one app. Until Open Banking expands beyond Europe, many of us are left navigating multiple systems and missing out on the full potential of these powerful tools.