Tagged: open banking

September 29, 2020 @ 7:51 am By Omar Faridi  |  

Open Banking solutions are increasingly being adopted globally and also in the United Kingdom, where user numbers have doubled to around 2 million during the past 6 months. The Open Banking Implementation Entity (OBIE), an organization established by the UK’s Competition and Markets Authority (CMA)… Read More

September 25, 2020 @ 5:31 pm By Omar Faridi  |  

  Rodrigo Bernardine, Co-founder at Digibee Inc, a company that aims to connect enterprises to the world 10x faster with “No Code” Integration methods, claims that Open Banking is a revolution that could streamline or enhance the existing financial system. He notes that banks require… Read More

September 23, 2020 @ 8:24 am By JD Alois  |  

Procheck24, Germany’s largest financial product broker, is collaborating with Raisin to offer a “novel” deposits solution for financial institutions. According to a note from Raisin, its services will now be made available via Procheck24’s 60,000 business partners including client banks. Raisin is an open banking… Read More

September 21, 2020 @ 8:45 am By JD Alois  |  

Tink, a leading Open Banking platform, has acquired an aggregation platform operated by OpenWrks. Tink is making the move to strengthen its position in the UK while buttressing its European expansion. The acquisition is also part of a strategic partnership where OpenWrks will power its… Read More

September 20, 2020 @ 3:19 pm By Omar Faridi  |  

Finicity, the provider of a real-time financial data aggregation and insights platform, has reportedly entered a direct data agreement with Charles Schwab (NYSE:SCHW), the world’s third-largest asset manager (behind BlackRock and Vanguard) and the 14th largest banking institution in the US with over $3.3 trillion… Read More

September 20, 2020 @ 2:23 pm By Omar Faridi  |  

Cape, an Australian working capital firm, is planning to offer a corporate credit card that will leverage Open Banking technology. The company says the card will be available in 2021. Established by experienced Fintech professionals who previously worked at Funding Circle, Funding Options and 11:FS,… Read More

September 18, 2020 @ 1:58 pm By Samantha Hurst  |  

Quanto, a Brazil-based opening banking platform, announced earlier this week it secured $15 million through its Series A funding round, which was led by Bradesco and Itaú Unibanco, with participation from Kaszek Ventures and Coatue. Founded in 2016, Quanto states it is “breaking apart” the… Read More

September 17, 2020 @ 8:34 am By JD Alois  |  

Following final approval from the Financial Conduct Authority (FCA) Cornerstone has completed the acquisition of FXPress Payment Services – a regulated Authorised Payment Institution providing cross-border payment services. Cornerstone will now operate as Cornerstone FS plc. Additionally, Cornerstone says it has received the consent of… Read More

September 16, 2020 @ 10:19 pm By Omar Faridi  |  

Open Banking focused firm Yapily has teamed up with Ozone API, an API standards-based platform, in order to enable banks and other financial service provider to speed up their adoption of Open Banking processes and systems. The COVID-19 outbreak has led to several changes in… Read More

September 16, 2020 @ 7:41 am By Omar Faridi  |  

Germany has one of the world’s most active Fintech sectors. It has become increasingly competitive with many new ventures being launched. There are more than 800 Fintech firms in Germany and $2.2 billion has been invested into the sector between January 2019 and August 2020,… Read More

September 16, 2020 @ 7:35 am By Omar Faridi  |  

Luxembourg based Fintech firm LUXHUB has partnered with Zürich-headquartered Swiss Infrastructure and Exchange (SIX) Group AG, the operator of Switzerland’s stock exchange. According to a release, the SIX Group will be using LUXHUB’s Open Banking technology. As mentioned in the announcement: “SIX continues to invest… Read More

September 15, 2020 @ 9:57 pm By Omar Faridi  |  

The team at DAPI, the first financial API in the MENA region that allows financial technology apps to leverage Open Banking by facilitating digital payments and accessing real-time banking data, have written an open letter to the UAE Bank Federation Advisory Council. The letter, which… Read More

September 8, 2020 @ 11:45 pm By Omar Faridi  |  

Prospa (ASX: PGL), an online small business lender based in Australia and New Zealand, has reportedly welcomed the interim report recently released by the Senate Committee on Fintech and Regtech. But Prospa has also come to an agreement with other industry participants that a lot… Read More

September 8, 2020 @ 10:25 pm By Omar Faridi  |  

The Consumer Data Right (CDR) legislation in Australia has been introduced to enhance the nation’s modern banking sector. It’s also supposed to make it easier to match or compare different financial products across a range of industries in the country, according to Senator Jane Hume,… Read More

September 7, 2020 @ 9:07 am By JD Alois  |  

Open Banking, a concept that is widely discussed but understood by relatively few, is an attempt to enable customers to control their own data while requiring financial services to allow access to this data, when approved, to foster a more robust and competitive financial services… Read More

September 3, 2020 @ 9:33 pm By Omar Faridi  |  

Banking challenger Branch has teamed up with Fintech solution provider Plaid to offer users access to real-time data across their applications. Instead of taking several business days for financial transactions to appear on various apps, the new integration should allow service providers to send transaction… Read More

September 2, 2020 @ 2:00 pm By JD Alois  |  

  The Office of the Comptroller of the Currency (OCC) will start processing Fintech applications to become federally chartered firms as soon as this week, according to a report. The acting Comptroller of the Currency Brian Brooks has only been managing the regulator since May… Read More

August 31, 2020 @ 9:07 am By Omar Faridi  |  

Ontology, a high-throughput or “high-performance” blockchain platform, has integrated its services with Fintech Plaid, which offers a data network that powers the financial technology tools used by millions of people. Following the integration, ONTO (Ontology’s native token) wallet users will be able to access Open… Read More

August 28, 2020 @ 12:15 pm By Ram Alagianambi and Arun Sikka  |  

How might hyper-personalization improve your products? Behavioral economics is the field of study which acknowledges that people are irrational beings; as explained by economist Richard Thaler in his book, Misbehaving, humans don’t behave the same way as theoretical decision-makers he calls ‘Econs’, who always make… Read More

August 26, 2020 @ 2:44 pm By Samantha Hurst  |  

Trustly, a Sweden-based online banking payments platform, announced on Wednesday it has expanded its services to Australia and Canada. Founded in 2008, Trustly claims its account-to-account network bypasses the card networks, letting consumers make fast, simple, and secure payments to merchants directly from their online… Read More