Tagged: open banking

July 8, 2022 @ 8:22 am By Omar Faridi  |  

TrueLayer, which claims to be Europe’s “leading” Open Banking platform, and wealth-building app Chip, recently announced their collaboration, “delivering an improved customer experience through dramatically faster account payments.” Chip offers a variety of options “to make saving effortless through an approach that’s tailored to each… Read More

July 7, 2022 @ 7:07 am By Omar Faridi  |  

allpay recently announced the introduction of their Confirmation of Payee solution. Developed in-house, the tech should enable the Hereford-based payment service provider’s 16,000 Banking Lite cardholders to take advantage of the Open Banking ecosystem. Clients can link up their allpay pre-paid account to other banking… Read More

July 6, 2022 @ 4:08 pm By Omar Faridi  |  

Paytrail and Mastercard’s (NYSE: MA) partnership via Aiia, an Open Banking platform, is now supporting over 1 million open banking payments every month. Paytrail and Aiia have reportedly been working together since 2019, as they focus on supporting Open Banking enabled payments via digital commerce… Read More

July 6, 2022 @ 11:17 am By Omar Faridi  |  

BKN301 – a Fintech creating payment services and Banking-as-a-Service (BaaS) solutions – has acquired €15 million via its Series A round. This, after finalizing the first seed round a few months back. The investment round includes key investors and brings the firm’s valuation to €63… Read More

July 1, 2022 @ 8:52 am By JD Alois  |  

GoCardless has announced its intent to acquire Nordigen an open banking data provider. The deal is expected to close later this summing. The terms of the acquisition were not revealed. GoCardless is based in the UK with offices around the world. Nordigen is regulated in… Read More

June 29, 2022 @ 8:13 am By JD Alois  |  

Salt Edge and Five Degrees have partnered on digital banking. Salt Edge is an open banking solution provider that is currently integrated with thousands of financial institutions operating in over 50 countries. Five Degree is a digital banking platform that offers a core banking platform… Read More

June 29, 2022 @ 3:17 am By Omar Faridi  |  

Hargreaves Lansdown (HL) has reportedly selected Ecospend, the United Kingdom’s Open Banking provider, in order to offer a “pay by bank” service to its customers. Ecospend’s solution should enable HL’s clients to complete payments directly to their HL accounts more quickly and securely and without… Read More

June 28, 2022 @ 1:28 am By JD Alois  |  

Last week, the OBIE (Open Banking Implementation Entity) published an Impact Report that indicates open banking is delivering significant benefits to small business. The OBIE report pointed to cloud accounting services stating that 75% of users started using the service no more than three years ago,… Read More

June 27, 2022 @ 9:23 pm By Omar Faridi  |  

Spire, a GCC Open Banking services provider, has announced a partnership with Mastercard (NYSE: MA),  a technology leader in the global payments sector. The collaboration will “help banks revolutionize consumer engagement and enhance user experiences in the region by integrating Spire ‘Ingage’ and Mastercard’s Merchant… Read More

June 27, 2022 @ 2:59 am By Omar Faridi  |  

Open Banking Fintech Volt, a UK-based company powering the growth of real-time payments in the UK and Europe, is launching Verify, which is described as “an ultrafast bank account authentication service for online merchants and businesses.” As confirmed in the update, Volt is launching Verify… Read More

June 27, 2022 @ 2:00 am By Omar Faridi  |  

Accounting firms are missing a “key opportunity” to adopt Open Banking to help meet the needs of small businesses facing a cash flow squeeze, according to a report by iwoca, which claims to be one of Europe’s largest small business lenders, and AccountingWeb. The report,… Read More

June 25, 2022 @ 11:28 am By JD Alois  |  

PSD2 or the European Payment Services Directive 2, has been in force since 2016 but payment services providers had until 2018 to adhere to the rules. The EU directive requires providers to incorporate heightened authentication features as well as taking aim at APIs that may… Read More

June 24, 2022 @ 2:37 pm By Omar Faridi  |  

Tell.money, the Fintech solution that provides innovative and “rapidly” deployable open banking services for banks and other account providers, has teamed up with Toqio, the Fintech SaaS platform that “enables organizations to build and launch fintech propositions.” Addressing Toqio’s PSD2 (Payment Service Directive Two) requirement… Read More

June 23, 2022 @ 12:33 am By Omar Faridi  |  

​​Enfuce, which claims to be one of the fastest-growing Fintech firms in Europe, has reportedly chosen Konsentus Verify in order to protect its clients from unauthorized/fraudulent third parties gaining access to account data and funds. Enfuce offers a modern, flexible, scalable, open banking service that… Read More

June 21, 2022 @ 8:24 am By JD Alois  |  

Recently the Open Banking Implementation Entity (OBIE) reported that there were a record number of API calls in May of over 1 billion along with 6 million users and 5 million open banking payments. The OBIE noted that 64% of UK consumers claim their level… Read More

June 20, 2022 @ 7:34 pm By Omar Faridi  |  

BOND.AI, a “human-centered” artificial intelligence firm, recently announced the creation of The BOND Network, a “first-of-its-kind” network of financial institutions and employers for “truly interconnected finance.” The network gives partners – like banks, credit unions, large enterprises, and small businesses – access to modern financial… Read More

June 17, 2022 @ 7:49 pm By Omar Faridi  |  

Aviva reportedly helps millions of customers with planning for their futures so its a key moment for the Open Banking community when they decide “to make a move in this space.” Bud‘s management noted that they’re looking forward “to supporting them along the way.” It’s… Read More

June 16, 2022 @ 10:08 pm By Omar Faridi  |  

Narmi, a provider of open digital banking technologies, announced $35 million in Series B funding co-led by Greycroft and existing investors NEA and Picus Capital. Narmi claims it is one of the fastest-growing companies “servicing financial institutions in the United States and plans to leverage… Read More

June 16, 2022 @ 2:47 pm By JD Alois  |  

Plaid has officially opened an office in Toronto, Canada as it aims to expand its presence in the market. Simultaneously, Plaid announced an agreement with RBC to access data. According to a blog post: “The agreement will – for the first time – bring about… Read More

June 14, 2022 @ 11:34 pm By Omar Faridi  |  

LHV UK, a banking services provider to more than 200 Fintech and crypto firms, is pleased to announce its Confirmation of Payee (CoP) service is currently live for all its direct clients. Introduced in July 2020, CoP is a fraud prevention system that’s led by… Read More