SOLO’s Customer Data Clearinghouse creates a governed network for consumer-consented data sharing between banks and fintech companies directly

Platform enables banks and lenders to collect and activate customer data across onboarding, underwriting, compliance, and servicing workflows

New York, N.Y. (August 5, 2025) – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks, today announced the addition of SOLO as its newest member. This follows the public launch of SOLO’s Customer Data Clearinghouse, an industry-governed network for cross-institution data sharing between banks and fintech companies for direct collaboration in open banking. As an AFC member, SOLO joins a network of fintech innovators focused on a shared mission to protect consumer data rights, promote innovation, improve efficiency, and increase transparency in financial services.

“AFC’s mission is to champion partnership between banks and fintech companies in service of consumers, and the foundation of open banking should be governed the same way,” said Phil Goldfeder, CEO of the American Fintech Council. “SOLO is changing the way innovative banks and fintech companies can share consumer-permissioned data. We look forward to partnering with SOLO as they continue to support banks and fintechs in delivering smarter, more responsive services.”

Backed by over 100 community and regional bank partners through the BankTech Ventures fund, SOLO is already processing $400M in monthly loan volume across the banking ecosystem through its platform for data collection and activation. With the launch of the Clearinghouse, SOLO now scales that infrastructure for data sharing across the industry. The partnership supports AFC’s proactive collaboration between fintechs and bank partners as SOLO implements its institutionally backed trust infrastructure for open banking –  furthering AFC’s mission of continued innovation in support of customer choice and industry wide growth.

“The future of open banking should require collaboration and partnership and not be vulnerable to a single monopoly. It requires resilient, shared infrastructure grounded in trust, collaboration, and accountability. SOLO’s Customer Data Clearinghouse is exactly that — a network that rewards the institutions and fintechs doing the work and puts consumers at the center of access,” said Georgina Merhom, Data Scientist & Founder at SOLO, “We are proud to partner with AFC as we work together towards a more competitive, resilient fintech ecosystem.”

A standards-based organization, AFC is the premier trade association representing the largest financial technology (Fintech) companies and innovative banks offering embedded finance solutions. AFC’s mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.

About SOLO‍

SOLO is a bureau built as an engine and scaled as a network. Backed by 100+banks, SOLO's platform enables banks and lenders with real time, always-on customer data collection, resolution, and activation. SOLO recently publicly announced its Customer Data Clearinghouse — the first and largest consumer-consented data sharing network — designed to ensure that verified customer data is portable, protected, and equitably governed across institutions and fintech partners. The network supports identity, financial, compliance, and contextual data, creating a comprehensive portable trust record for customers and small businesses to unlock financial services. Learn more at solo.one

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