Tagged: open banking

August 12, 2022 @ 11:29 am By JD Alois  |  

Earlier this year, the UK FCA, PSR, CMA, and HM Treasury published a joint statement on the future of open banking (open finance), while announcing the creation of a joint regulatory oversight committee designed to improve adoption. The committee is co-chaired by the FCA Executive… Read More

August 9, 2022 @ 8:38 am By Omar Faridi  |  

CIBC (TSX: CM) (NYSE: CM) recently entered a data access agreement with MX in order to improve the CIBC client experience via secure data sharing, offering customers a safe and intuitive way to share their financial details. The partnership with MX is indicative of CIBC’s… Read More

August 4, 2022 @ 2:37 pm By JD Alois  |  

Yapily, an Open Banking service provider, has launched a new service – Yapily Virtual Accounts. According a company statement, Yapily Virtual Accounts enables merchants and payment service providers (PSPs) to create multiple accounts gain more control over flow of funds while collecting payments, initiating instant… Read More

August 2, 2022 @ 9:29 am By JD Alois  |  

Open banking provider Yapily now offers Yapily Variable Recurring Payments (VRP), the ability for users to enable scheduled payments that are not consistent amounts. Yapily is joining other open banking firms in providing the service. VRP is a service that is mandated by the UK… Read More

July 28, 2022 @ 10:47 pm By Omar Faridi  |  

TrueLayer, which claims to be Europe’s leading open banking platform, announced the availability of TrueLayer Payments for WooCommerce plugin, “enabling ecommerce SMBs to seamlessly add instant, secure account-to-account payments to their website.” Luxury watch retailer BQ Watches is one of “the first businesses to implement… Read More

July 28, 2022 @ 2:36 pm By JD Alois  |  

Open Banking (or Open Finance) provider MX has appointed former PayPal executive Jim Magats as its new CEO, effective August 17, 2022. Magats will also join the MX Board of Directors. Ryan Caldwell, founder and Executive Chairman of the Board of Directors, MX, issued the… Read More

July 27, 2022 @ 8:16 am By Omar Faridi  |  

Klarna Kosma, which is Klarna‘s financial technology platform for banking institutions, Fintech firms and retailers, announced its working relationship with Airbank, a digital financial management platform for companies. Klarna Kosma’s Open Banking platform offers Airbank with access to the largest international network of banks, considerably… Read More

July 26, 2022 @ 10:26 am By JD Alois  |  

Popular Open Banking service provider Plaid has announced a new service called Variable Recurring Payments (VRP). Plaid claims the offering can help UK businesses save more than £1.5 billion annually by slicing payment processing fees, according to a company statement. As the name explains, VRP… Read More

July 26, 2022 @ 9:51 am By Omar Faridi  |  

Europe’s provider of credit information, CRIF, has reportedly expanded its Open Banking-enabled consumer credit solution to the United Kingdom, assisting more consumers with  accessing affordable, “responsible” credit during the ongoing economic crisis. CRIF’s credit scoring service, which is currently available to UK-based banking institutions and… Read More

July 22, 2022 @ 1:30 pm By Omar Faridi  |  

Emma, the financial super app, recently announced the launch of its commission-free stock trading to over 1 million customers in the United Kingdom, after successfully “testing with more than 30,000 users who registered on the waiting list.” Emma customers currently “use the app to see… Read More

July 21, 2022 @ 6:55 pm By Omar Faridi  |  

Global analytics software provider FICO (NYSE: FICO) announced a partnership agreement with Israel’s Open-Finance.ai, a risk, finance and compliance software enabler of open banking and finance services and consulting firm headquartered in Tel Aviv. Through this agreement, Open-Finance.ai will “integrate the FICO® Blaze Advisor® decision… Read More

July 19, 2022 @ 6:22 pm By JD Alois  |  

MX, an open banking or open finance platform, has announced a new method for account verification called MXapi Processor Tokens. According to a company statement, MX now offers an API data exchange that is simple and secure to validate users and transactions. The tokens are… Read More

July 18, 2022 @ 9:34 am By Omar Faridi  |  

In a world where everything is available on demand, being paid once every month is “an increasingly outdated way of doing things for many,” according to an update from Fintech firm Modulr. Leveraging the “unique” pay link between employer and employee to empower workers to… Read More

July 16, 2022 @ 9:27 pm By Omar Faridi  |  

Mastercard (NYSE: MA) recently announced an expansion of its Engage partner network to include its open banking services, “offering customers easy access to several technology partners that can quickly build and deploy open banking solutions for payments and lending decisioning at scale.” According to Mastercard’s… Read More

July 16, 2022 @ 3:09 pm By Omar Faridi  |  

EQ Bank, powered by Equitable Bank, Canada’s Challenger Bank, has teamed up with Flinks, a key player in open banking, to provide EQ Bank customers with the ability “to share their financial data securely with third-party fintech applications of their choosing.” This partnership, and the… Read More

July 14, 2022 @ 2:28 pm By Omar Faridi  |  

Monneo, the end-to-end payment ecosystem provider, claims that it’s leading the way for Banking as a Service (BaaS) as it introduces a new API. Monneo’s BaaS partners and customers may take advantage of the complete range of payments and transaction services, and also benefit from… Read More

July 14, 2022 @ 1:18 pm By Omar Faridi  |  

TrueLayer, which claims to be Europe’s leading open banking platform, announced that the innovative credit firm Tymit is delivering “an enhanced experience through instant bank payments for its Credit and Booster customers.” Tymit was founded as “a flexible approach to financing purchases and managing a… Read More

July 11, 2022 @ 9:31 pm By Omar Faridi  |  

Tarabut Gateway, which claims to be the largest Open Banking platform in the MENA region with a market presence in Bahrain, the UAE and KSA, announced (earlier this week) two new appointments to its senior executive team, Nino Ocampo and Adnan Erriade. Nino joins as… Read More

July 11, 2022 @ 1:51 pm By Omar Faridi  |  

Brite Payments is set to significantly enhance monthly paid subscriptions with the launch of its recurring payments service. The Stockholm-based company claims it is set “to improve consumer convenience for subscription-based online businesses with its innovative, customer-first payment technology, as well as providing significant advantages… Read More

July 11, 2022 @ 1:07 am By Omar Faridi  |  

Fintech Group Fiinu has reportedly had its shares admitted to trading on AIM, with a valuation of around £53 million. Fiinu has obtained its deposit-taking bank license from the Bank of England (BoE). The issuing of the bank license/authorization from the Prudential Regulation Authority (PRA)… Read More