Tagged: data-sharing

CIBC Selects Fintech MX to Improve Financial Tools, Apps

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

Open Banking Fintech Nordigen Teams Up with Ebitly, a Cashflow Planning Platform

Ebitly and open banking platform Nordigen have joined forces to offer financial information straight onto the program from clients’ bank accounts. Ebitly is a real-time cashflow planning platform, which is focused on giving SMEs access to smart and robust financial management tools. The program’s interface… Read More

Open Banking Is Being Embraced by Brazilian Consumers, While US Residents Concerned About Privacy, Security: Report

Globally, 84% of consumers agree that they should “have control of their financial data, and banks should not prevent the movement of money between other financial services.” These are the principles that are the “basic tenets of open banking,” according to an update shared with… Read More

Latin American Fintech Belvo Explains how Data Science, Open Banking APIs are Used by Financial Services Providers

LatAm Fintech Belvo notes that enrichment products are able to offer out-of-the-box insights based on clients’ transactional data in order to enhance decision-making and allow firms to better understand customers. But how do these products work and what can you build with them, the team… Read More

Payment Initiation along with Financial Data-Sharing are Key Benefits of Open Banking: Report

Open Banking has been around for several years and it’s likely that it’s “here to stay,” according to an update from PensionBee. According to the online pension provider, this new tech has benefited over 4 million people in the United Kingdom and is set to… Read More

TrueLayer Clarifies What Changes to 90 Day Rule for Open Banking Access Actually Mean

Jack Wilson, Head of Public Policy at TrueLayer, notes that Open banking started back in 2018 thanks to appropriate regulations (PSD2) which gave consumers the right “to access their bank account data using third parties called account information services providers (AISPs).” However, these same set… Read More

Open Banking Could Become a Key Part of Brazilian Consumers’ Financial Lives: Report

Open Banking in Brazil marked its first anniversary on February 1, 2022 – and the South American nation is looking set to strengthen its position as a (maybe unlikely) open banking pioneer. The Brazilian reserve bank’s phased approach is considered to be a success, through… Read More

Open Banking Platform Tink Finalizes Acquisition of FinTecSystems

European open banking platform Tink has finalized the acquisition of German open banking infrastructure provider, FinTecSystems, following regulatory clearance. FinTecSystems will now become part of Tink, according to a release. After the acquisition, the combination of Tink’s pan-European open banking platform and FinTecSystems’ product suite… Read More

Open Banking Implementation Entity to Strengthen Governance of Organization with Non-Exec Director Role

The Open Banking Implementation Entity (OBIE) has announced that it’s looking to appoint an independent Non-Executive Director (iNED) to its Board. As mentioned in the announcement, Open Banking enables consumers and SMEs to share their bank account details in a secure manner with trusted third-parties… Read More

Payments Supported by Open Banking to Surpass $116B in 2026, Up from Only $4B in 2021: Report

Open Banking is driving the “largest disruptors” in the virtual banking market, BaaS (Banking-as-a-Service) and embedded finance, by serving as an “enabler for delivery of these concepts,” according to a report from Juniper Research. As noted in a whitepaper, shared by Juniper Research: “While the… Read More

Financial Data Exchange Reveals that 22M Accounts are Using its FDX API for Open Finance Data Sharing

The Financial Data Exchange (FDX) reveals that 22 million consumer accounts are currently using its FDX API for open finance data sharing. Since FDX’s previous report in April of this year, more than 1 million additional consumer accounts per month have transitioned to the FDX… Read More

UK’s Open Finance Platform mmob Receives FCA Approval for Payment, Account Info Service Provision

mmob, an Open Finance partnership platform, has announced that it has received authorization or approval from the UK’s Financial Conduct Authority (FCA) for Payment and Account Information Service Provision. The approval from the United Kingdom’s regulatory authority validates mmob’s progressive business model and embedded finance… Read More

AI and Machine Learning Network Fetch.ai to Connect Autonomous Economic Agents to IOTA Network’s Data Sources

AI and machine learning network Fetch.ai will be working with IOTA, in order to connect Autonomous Economic Agents to IOTA network’s rich data sources. As mentioned in a blog post by Fetch.ai, dated June 10, 2021, for the first time ever, this draws “a clear,… Read More

Latvia’s Open Banking Fintech Nordigen Acquires an Additional €2.1M, Completes 1,000+ Bank Integrations

roThe team at Nordigen notes that it’s just been half a year since they announced Europe’s first “free” Open Banking API, however, they’ve already managed to introduce 1,000 bank integrations and acquire an additional €2.1 million. The Latvia-based Nordigen team writes in a blog post… Read More

Australia’s Open Banking Fintech Frollo Introduces Real-Time Balance Checks with Siri for Budgeting App

Australia-based Frollo, the “purpose-driven” Fintech firm that offers financial management and Open Banking services, has introduced a new feature for its budgeting app that allows customers to check their real time balance with Siri and the firm’s Open Banking connections. Some common use-cases for voice… Read More

Salesforce CRM to Help Revolut Business Clients with Rethinking, Reshaping Management of Customer Interactions

The team at digital bank Revolut notes that being able to work effectively in a digital environment is very important for small businesses. After a year that challenged many SMEs globally to adapt and become more flexible due to the COVID outbreak, everything from customer… Read More

LendInvest Senior Underwriter Tom Steer Shares how Open Banking Helps Buy-to-Let Process

UK-based LendInvest, a property finance Fintech, reveals that they’ve been an early Open Banking adopter, as part of the Buy-to-Let process, using the technology’s potential to facilitate faster deals. LendInvest Senior Underwriter, Tom Steer, recently discussed how Open Banking is working for the company’s underwriting… Read More

Open Banking: UK’s Digital Bank Zopa Explains how Consumers Can Benefit from Financial Data-Sharing

Open Banking is about giving users better control over their banking information. Instead of your bank hoarding the details regarding your transactions and account, users are able to decide how and when they want to share these details with other financial services providers and other… Read More

TechUK Responds to Competition and Market Authority’s Consultation on Open Banking

The UK has reached a key stage for the ongoing development of Open Data initiatives.  The Open Banking Implementation Entity (OBIE) is now nearing the completion of creating Open Banking guidelines and the Competition and Markets Authority (CMA) has finalized a consultation on the updated… Read More

UK’s Open Banking Fintech TrueLayer Secures $70M via Series D led by Addition, Company has Raised $142M in Total to Date

UK-based Open Banking solution provider TrueLayer has secured $70 million in capital through a Series D round. TrueLayer‘s latest investment round was led by Addition and included contributions from several angel investors. Following this latest fundraise, the Fintech firm has acquired a total of $142… Read More

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