Tagged: data-sharing

Global Fintech Klarna Explains Why It Does Not Report BNPL Payments to US Credit Bureaus

Klarna explains that it supports the “principle” of sharing data with credit bureaus, and they do share data with bureaus in the UK. They are not sharing data in the US because they claim that the bureaus “do not have proper models to responsibly process… Read More

Open Banking Survey: US Consumers Want Healthcare Services Organizations to Share Records with Other Providers

Axway (Euronext: AXW.PA), a global API management and integration software firm,  released the results of a consumer survey showing how they expect their personal data to be shared and secured. The 2023 survey polled 1,000 American adults “about their expectations and top concerns about how… Read More

Fiserv and Plaid to Enable Secure Data Sharing for Financial Institutions

Fiserv, Inc. (NYSE: FI), a global provider of payments and financial services technology, and Plaid, a data network at the forefront of the digital financial landscape, announced an agreement to enable secure and reliable data sharing through application programming interfaces (APIs), addressing growing consumer demand… Read More

Web3: Fluree Closes $10M Series A for Enhancing Data Management, Data Infrastructure

Fluree, a company headquartered in Winston-Salem, North Carolina, which has developed a graph ledger database and data pipeline toolset for trusted-, interoperable-, secure-data management and sharing, announced it has closed a $10 million Series A funding round led by SineWave Ventures. Eve Atlas, Augment Ventures,… Read More

The Payments Association, Form3 Report: Collaboration Is Vital for Progress on Data Sharing to Prevent Economic Crime

The Payments Association, which celebrates innovation and collaboration across the payments industry, has released a new whitepaper examining the current arrangements for sharing data to prevent economic crime in the UK, “citing collaboration between regulated entities and between public and private sector is key to… Read More

Decentralized Smart Contract Platform Ocean Protocol, Orbis to Introduce Encrypted Messaging on Ocean Market

Ocean Protocol, the decentralized smart-contract platform for data sharing and monetization, has integrated with Orbis, the Web3 social protocol allowing end-to-end encrypted communication between users. This integration “provides all users of the Ocean Market with the right tools to engage and communicate with data buyers… Read More

Open Finance: Nubank Allows Clients to Access Balance from Other Institutions via App

Nubank (NYSE: NU) has launched a new functionality that allows customers to view, within the Nu application, the balance of all their bank accounts linked to Open Finance. The tool is still “in the testing phase, and will initially be offered to 300,000 customers that… Read More

Credit Scoring, Lending in “Dire Need” of Innovation, Financial Services Survey Reveals

Pinwheel, the payroll data connectivity platform, released the results of a new survey “on consumer attitudes towards credit scoring and data sharing.” Findings demonstrate that: Financial institutions are missing out on servicing a portion of otherwise reliable borrowers due to current credit scoring methods miscategorizing… Read More

BankiFi, MX to Enable Account Connectivity for Financial Institutions Serving SMBs

BankiFi, a provider of embedded banking solutions, has partnered with MX Technologies, Inc., a key player focused on open finance, “to enable secure data sharing and account connectivity for businesses using BankiFi’s platform.” Through this collaboration, financial institutions will be able “to leverage MX’s open… Read More

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

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