CFPB 1033 Turnkey Compliance Solutions
Under Section 1033 of the Dodd-Frank Act, every bank and financial institution with more than $850 million under management must offer secure, standardized ways for customers to share their financial data with authorized third-party apps.
IntelliTrade’s open banking API (ASPSP) and Third-Party Provider (TPP) solutions simplify this process by offering ready-made, compliant platforms. This allows banks to focus on serving customers—rather than wrestling with technical and regulatory hurdles.
With our turnkey solution you can stand up your own Open Banking strategy within weeks
ASPSP Platform
This 1033-compliant open banking API is designed to help financial institutions comply with open banking regulations. It allows customers to securely access their financial data and make payments via trusted third-party providers, promoting both trust and adherence to regulatory requirements.
TPP
Intelli Open Banking’s TPP solution ensures secure data access and payment initiation in full compliance with CFPB 1033. It empowers financial institutions to leverage open banking data as a data recipient to help drive innovation, boost customer engagement, and maintain control over all third-party provider connections.
The CFPB Clock is Ticking
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Policies & Procedures
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Rules concerning third party data recipients
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Data covered under the rule
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Technical and regulatory standards
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Provision of customer and technical support
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Quality industry standard reporting on system metrics
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Necessity to provide both a consumer interface and a developer interface for API’s and testing
The rules covering the various aspects of data sharing under Section 1033 which financial institution are required to adhere to including:
Get ahead of the curve
Assets > USD 250b & Revenue > USD 10b – April 1st, 2026
Assets > USD 10b < USD 250b – April 1st, 2027
Assets > USD3b < USD 10b – April 1st, 2028
Assets > USD 1.5b < USD 3b – April 1st, 2029
Assets > USD 850m < USD 1.5b – April 1st, 2030
Institutions < USD 850m Assets – Exempt from the rule for now
- Non Depositary Institutions > USD 10b in receipts – April 1st, 2026
- Non Depositary Institutions < USD 10b in receipts – April 1st, 2027
Adopt early and stay in front of your competitors; Based on organization size/revenue, compliance deadlines for depositary institutions are as follows:
See Link to CFPB for more Information;
Members of:
Click here for support with Europe’s PSD2 open banking regulations.
"The age of Open Banking and Open Finance is the beginning of a new era which will fundamentally change the way we go about finance just as the internet changed how we go about our everyday lives….As with the internet, in a few years we’ll all look back and won’t believe how we ever managed without it.”
Bryan Hahn – IntelliTrade Open Banking Solutions
CRO and Strategic Partnerships
Contact us today
Let’s discuss how we can support your organization with one of our turnkey
Section 1033 solutions