August 17, 2018 @ 7:57 am By JD Alois  |  

The Competition and Markets Authority (CMA), in conjunction with the Financial Conduct Authority (FCA), have demanded that traditional banks improve their services. The admonition comes following an independent survey of both personal and small business accounts that indicates banks are falling short when it comes… Read More

August 16, 2018 @ 12:00 pm By Samantha Hurst  |  

Deposit Solutions, a Germany-based opening banking and international platform for savings deposits, announced on Wednesday it secured $100 million through its latest investment round, which was led by Vitruvian Partners with participation from Kinnevik and existing shareholders including Deposit Solutions‘ first institutional shareholder e.ventures. The funds reportedly bring… Read More

August 6, 2018 @ 12:04 pm By JD Alois  |  

While much of the world is pushing forward with empowering users to control their own financial information, social media leader Facebook (NASDAQ:FB) is heading in the opposite direction by asking banks to share detailed financial information about their customers. This deeply concerning report was first… Read More

July 23, 2018 @ 1:55 pm By Samantha Hurst  |  

Goodlord, a UK-based proptech platform, has formed a new open banking partnership with TrueLayer. Founded in 2014, Goodlord reports that its cloud-based platform is trusted by hundreds of agencies across the UK. The company has created a one-stop-shop by providing access to a dynamic suite… Read More

July 11, 2018 @ 11:15 am By Samantha Hurst  |  

On Wednesday, UK-based savings and mortgage provider Nationwide Building Society announced it is challenging the fintech community through its Open Banking For Good initiative to develop Open Banking technology that helps improve the lives of the one in four UK households.  According to Nationwide, Open… Read More

July 11, 2018 @ 8:36 am By JD Alois  |  

Money management chatbot Plum is now supporting challenger banks Monzo and Starling Bank. Plum states that it already supports most major UK banks and currently has around 130,000 users – collected since launch in 2017. Plum states that is has so far saved £24 million… Read More

June 15, 2018 @ 9:40 am By JD Alois  |  

Alior Bank has announced a “pan-European collaboration” with Raisin, solarisBank and Mastercard. The four separate companies are seeking to create a new financial platform based on an open API model. This new model hopes to enable their clients “to benefit from truly open banking.” According… Read More

May 9, 2018 @ 10:38 pm By JD Alois  |  

FinTech Australia is lauding the Aussie Government’s policy push regarding Open Banking. The advocacy group says the Australian decision has pushed back against big banks to open true banking reform by next year. “A government-backed Open Banking framework will be a game-changer for consumers and businesses,… Read More

April 16, 2018 @ 10:05 pm By JD Alois  |  

“Stop knee-jerk anti-competitive measures by banks” FinTech Australia is out with a note on the push to achieve Open Banking rules – somewhat similar to what the UK kicked off this past January. The advocacy group responded to a submission by the Australian Banking Association… Read More

March 23, 2018 @ 11:05 am By Erin Hobey  |  

ORCA Alliance, an Open Banking platform designed for cryptocurrency users aims to unite fiat and crypto in a single convenient interface, is taking advantage of the European PSD2 directive. Founded by CEO Natan Avidan, ORCA Alliance aims to give its users the possibility to keep and track… Read More

February 20, 2018 @ 3:17 pm By Samantha Hurst  |  

On Monday, Credit Kudos, a challenger credit bureau, and Lending Works, a fast-growing peer-to-peer (P2P) lending platform, announced they were teaming up to launch a new Open Banking initiative, which is described as a secure way for banking customers to take control of their financial data. According… Read More

February 9, 2018 @ 12:45 pm By JD Alois  |  

“Open banking regime will empower customers, enhance competition and drive Australian innovation” FinTech Australia today welcomed news that the Australian Government will legislate to empower customers by requiring banks to allow these customers to access their own data. The Government has published a report on… Read More

February 9, 2018 @ 7:37 am By JD Alois  |  

Last July, Australia commissioned a review of Open Banking seeking recommendations as to how to best pursue this policy shift in Australia. Commissioned by Treasurer Scott Morrison, MP and chaired by Scott Farrell, the Australian government has now published a report that makes 50 recommendations…. Read More

January 15, 2018 @ 7:01 am By JD Alois  |  

Following a closed beta launch in December, Emma Technologies has announced the Financial Conduct Authority (FCA) has give regulatory approval to the company under the Payment Services Regulations 2017 for the provision of payment services. In the UK on January 13th requirements under PSD2, as… Read More

January 12, 2018 @ 5:52 pm By JD Alois  |  

Open Banking is kind of a nebulous term. Unless you are very engaged with the UK financial sector it probably means little to you. Yet the concept of Open Banking will have profound ramifications for consumers and businesses in both the UK and Europe. In… Read More

December 13, 2017 @ 7:59 am By JD Alois  |  

Nesta, a global innovation foundation, has announced the ten Fintech firms that have won Stage 1 of the Open Up Challenge. The Challenge is in recognition of the launch of Open Banking in January 2018. Chris Gorst, Challenge Prize Lead at Nesta, congratulated all of… Read More

November 24, 2017 @ 7:49 pm By JD Alois  |  

Many people are still sorting through the various proposals announced by Chancellor of the Exchequer Philip Hammond during the Autumn Budget statement from the past week. Parsing through the nuances of the many policy pronouncements is an annual affair. So what is in the Budget… Read More

October 18, 2017 @ 2:14 pm By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has published principles for data sharing and aggregation regarding individual consumers. As data become ubiquitous there is a looming concern about who owns or controls personal information. In an age of rampant cybersecurity issues, setting guidelines for what banks… Read More

October 10, 2017 @ 5:00 am By Therese Torris  |  

On Monday, October 9, Lendit Europe, the event gathering 1000+ representatives of the international fintech and lending scene on the banks of the River Thames, opened with a presentation by Imran Gulamhuseinwala OBE, Global Head of FinTech at consultancy firm EY, who spoke about “The… Read More

October 3, 2017 @ 9:17 am By Samantha Hurst  |  

Oracle announced on Monday the launch of its new digital innovation platform for open banking. According to the company, the platform enables the development and deployment of fintech capabilities on a single platform in the public cloud. Sanjay Mathew, Senior Director of Oracle’s Industry Solution Group, shared details… Read More