Tagged: open banking

November 4, 2020 @ 10:20 am By Samantha Hurst  |  

    Tink, a Sweden-based fintech that provides APIs to create next-generation banking services, announced on Wednesday it has officially completed its acquisition of Eurobits, which is a provider of account aggregation services working with various banks and fintechs. The acquisition was originally announced in… Read More

November 4, 2020 @ 8:53 am By JD Alois  |  

Nuapay claims it has uncovered apparent vulnerabilities surrounding payment cards, leading to a risk of fraud and “mounting consumer distrust.” The conclusion is being driven by an open banking report recently published where the firm says that more than one in ten (12%) of the UK… Read More

November 3, 2020 @ 10:35 pm By Omar Faridi  |  

Customers of Australia’s four major banks (which includes the Commonwealth Bank of Australia, Westpac Banking Corporation, Australia and New Zealand Banking Group, and National Australia Bank) are now able to share their home loan and mortgage offset data with accredited or approved recipients. This option… Read More

November 3, 2020 @ 7:42 pm By Omar Faridi  |  

Chile’s Ministry of Finance recently revealed that it aims to streamline the development of its regulatory framework for Fintech and Open Banking. Chile’s government will reportedly be working on a legal proposal for standardizing Open Banking. This should help with promoting competition and innovation in… Read More

October 26, 2020 @ 9:57 am By Omar Faridi  |  

The data economy of the Internet has led to most interactions becoming a transaction, according to a report from InnoPay, a consultancy firm specializing in digital transactions. The report notes that “future relevance” for traditional banking institutions is “no longer based on payments alone.” The… Read More

October 24, 2020 @ 10:55 am By Omar Faridi  |  

TrueLayer, a computer software firm that enables companies to capitalize on new Open Banking initiatives in the UK, will be expanding its operations into Australian markets. TrueLayer has hired Brenton Charnley to lead its expansion into Australia’s Fintech sector. Charnley is the founder of Alpha39… Read More

October 22, 2020 @ 3:27 pm By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has issued an advance notice of proposed rulemaking (ANPR) requesting information related to consumer access to financial records. In brief, the CFPB is asking interested parties as to how it might most efficiently and effectively develop regulations to implement… Read More

October 20, 2020 @ 7:41 am By Omar Faridi  |  

What consumers might say and what actions they take when it comes to sharing personal financial data (via Open Banking) are two different things, ING Bank notes. Although there are many tools to help improve our financial lives, the findings of an ING global survey… Read More

October 18, 2020 @ 10:48 pm By Samantha Hurst  |  

Upside Saving, a UK-based open-banking-marketing-platform connects Brands with consumers by offering frictionless cashback, is set to close its equity crowdfunding campaign on Seedrs with more than £330,000 raised. The funding round was launched earlier this month and has attracted over 315 Seedrs investors. As previously… Read More

October 17, 2020 @ 12:02 pm By Omar Faridi  |  

Open Banking developments in Singapore could lead to more changes in traditional banking processes than those that involve digital banking and related infrastructure upgrades. Singapore’s addressable loan market for digital banks is valued at around S$220 and S$243 billion, according to estimates from the Fintech… Read More

October 16, 2020 @ 11:59 am By Omar Faridi  |  

Ciaran O’Malley, Head of Commercial Strategy at Trustly, a Stockholm, Sweden based financial services firm that aims to offer fast and secure online banking solutions, says that since PSD2 went live in September of last year, a “raft” of Payment Initiation Service Providers (PISPs) have… Read More

October 15, 2020 @ 10:06 am By Omar Faridi  |  

French Paytech firm Lydia has teamed up with Tink in order to enable Open Banking connectivity. Lydia’s mobile payment app will be using Tink’s open banking tech to access PSD2 APIs across Europe. Tink and Lydia will be working cooperatively to improve bank account connectivity… Read More

October 13, 2020 @ 8:04 pm By Omar Faridi  |  

David Laird, CEO at modul8, a Melbourne based financial services firm, confirms that his company has teamed up with Nium in order to build better payments solutions in Australia and Southeast Asia. Nium is a global finance infrastructure firm. It will offer payment card-issuing services… Read More

October 13, 2020 @ 10:10 am By Samantha Hurst  |  

Prime Trust, a blockchain-driven trust company, announced on Tuesday it has API integrated Bittrex, a blockchain tech and cryptocurrency exchange. The integration allows traders to move fiat on the exchange in real time and on a limitless basis. While sharing more details about the integration,… Read More

October 12, 2020 @ 4:20 pm By Samantha Hurst  |  

Upside Saving, a UK-based open-banking-marketing-platform connects Brands with consumers by offering frictionless cashback, has successfully secured its initial £300,000 funding target on equity crowdfunding platform Seedrs. Upside Saving’s campaign has already attracted more than 200 Seedrs investors. Founded in earlier this year, Upside Saving is… Read More

October 10, 2020 @ 10:19 am By Omar Faridi  |  

AccountScore, an Open Banking platform, has teamed up with Fintech firm Click2Check in order to offer a new solution, called Credit Assess, which may be helpful for businesses and professionals working in the mortgage advisory market. According to a release, the Credit Assess solution offers… Read More

October 10, 2020 @ 9:18 am By Omar Faridi  |  

Italy-based Enel will soon be the first of Europe’s major utilities providers to introduce a digital banking platform this month. According to Reuters, the virtual bank will let customers open a new current account by using the debit card they use to settle their energy… Read More

October 7, 2020 @ 7:44 am By JD Alois  |  

Raisin, a European Fintech that leverages open banking to offer a deposit marketplace, says growth in the UK has topped expectations in spite of the ongoing COVID-19 health challenge. Raisin claims it is going “against trend” and has passed its 2020 annual growth target of… Read More

October 5, 2020 @ 9:04 am By Omar Faridi  |  

UK-based Fintech firm Currensea has introduced a new product for small businesses. The company is offering a debit card for SMBs that aims to leverage the benefits of Open Banking, so that it’s easier to carry out digital transactions. Currensea’s debit card allows SMEs to… Read More

October 5, 2020 @ 6:34 am By Omar Faridi  |  

Australia based IMB Bank will be introducing Open Banking services. The mutual bank confirmed on October 5, 2020, that it would provide a new banking platform that can share certain financial data through an API integration. The NSW-headquartered building society IMB Bank noted that, during… Read More