The growing adoption of APIs in the financial sector, driven largely by open banking regulations, has introduced new opportunities and challenges for financial app developers. Open banking allows third-party providers authorized access to consumer financial data, revolutionizing data-sharing methods, yet it also presents significant security and compliance challenges due to varying API standards among banks and the sensitive nature of financial data. To address these challenges, API aggregators have emerged, offering developers a streamlined method to connect with multiple banking APIs, thus enhancing development efficiency and user experience. However, security concerns persist, particularly around leaking user credentials and handling personally identifiable information (PII) in multiple jurisdictions. Third-party API consumption management is suggested as a solution to enhance security and compliance by providing a dedicated layer for managing external integrations, which can include capabilities like PII masking, API key management, and payload inspection. This approach not only aids in meeting regulatory requirements but also supports better privacy protection and compliance in a highly connected financial ecosystem.