Tagged: financial data

November 19, 2020 @ 9:01 am By Omar Faridi  |  

Prominent digital bank Revolut has confirmed that it will support Open Banking for its customers in Germany. According to a release, the new Open Banking features will allow Revolut’s German customers to easily connect their accounts at Comdirect, Commerzbank, Deutsche Bank, ING-DiBa and Sparkasse with… Read More

November 10, 2020 @ 8:47 pm By Omar Faridi  |  

Afterbanks, the Fintech firm that allows users to retrieve and aggregate data from different banks in real-time via an API, has introduced its products and services in Mexico. Afterbanks’ platform has been used to conduct instant and secure payments in Europe and Latin America. Afterbanks… Read More

November 9, 2020 @ 10:17 pm By Omar Faridi  |  

Australia-based Fintech firm Finspo, which offers an aggregated view of the cost of banking services used by consumers, has reportedly decided to branch out into the mortgage broking business. Finspo’s management has confirmed that they’ll introduce a mortgage broking capability as part of the company’s… 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

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 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 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 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

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 20, 2020 @ 7:55 pm By Omar Faridi  |  

Refinitiv, one of the largest providers of financial markets data and infrastructure, has revealed that China CITIC Bank International will be using the Refinitiv Electronic Trading platform to streamline its foreign exchange (FX) trading and distribution workflow. Banks and other financial service providers are looking… 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 @ 7:33 pm By Omar Faridi  |  

Lizzie Chapman, CEO and co-founder at ZestMoney, which claims to be one of the largest and fastest-growing Fintech firms in India, recently discussed what she considers the future of lending in a post COVID world. She acknowledges that this has been one of the most… 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 @ 7:35 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 @ 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