Truist launches API-based open banking platform using Mastercard's open finance

Truist taps Mastercard to power its first open banking platform

Truist announces its first open banking integration, connecting initially to Mastercard’s open finance technology to deliver an API‑based platform for consumer and small‑business clients. The platform uses direct API links to Mastercard’s open finance system to give customers centralized, tokenized access to their financial data and to allow granular control over which third‑party fintech apps can view that data and for what purpose. Truist emphasizes that the approach removes the need to share usernames and passwords, aiming to increase transparency and consent management across an expanding ecosystem of services.

The integration emphasizes security and personalization as core benefits, enabling customers to link budgeting, payments, lending and account‑aggregation tools while preserving privacy through token security. Truist positions the rollout as a way to create new pathways for customers with limited credit histories and to offer more choices for sending and receiving payments, while delivering consolidated insights into overall financial health. Sherry Graziano, Truist’s head of digital, client experience and marketing, frames the move as digitally empowering clients and small business owners with more personalized experiences and holistic visibility.

For Mastercard, the Truist deal serves as a concrete endorsement of its open finance platform in the U.S. market and underscores the card network’s push into API‑based data connectivity beyond card rails. Bart Willaert, Mastercard’s executive vice president for open finance in the Americas, highlights trust and security as central to the partnership, and the integration demonstrates how large banks can use standardized APIs to scale consented data sharing with fintechs. Truist says the rollout is the beginning of broader open banking plans to extend integrations to additional partners and fintechs over time.

Bank profile and scale

Headquartered in Charlotte, Truist is a top‑10 U.S. commercial bank with $548 billion in total assets as of Dec. 31, 2025, offering consumer and small business banking, commercial and corporate banking, payments, wealth management and specialized lending. The PR release notes Truist Bank is a Member FDIC and Equal Housing Lender.

Mastercard footprint and industry implications

Mastercard operates in more than 200 countries and territories and is positioning its open finance platform as infrastructure for standardized, tokenized data access. Industry observers view the Truist integration as a sign that major banks are increasingly adopting API‑first models to connect securely with fintech ecosystems.