Tagged: open banking

Open Banking and Compliance Platform Railsbank Establishes Business Offices in Singapore

Singapore has been ranked number one in Asia and eighth worldwide when it comes to innovation and embracing the latest technologies. Singapore is also recognized as one of the world leaders in key sectors including Fintech,  engineering, manufacturing, healthcare, biomedical sciences, urban solutions and sustainability,… Read More

House Financial Services Committee Schedules Next Fintech Task Force Meeting to Discuss the Role of Big Data

Big data is on the agenda for the House Financial Services Committee’s Task Force on Financial Technology. The Fintech Task Force will convene for a hearing entitled, “Banking on Your Data: the Role of Big Data in Financial Services.” The Fintech Task Force is relatively… Read More

Open Banking: Learning Lessons from Asia

With the implementation of PSD2 in Europe, Open Banking payment solutions are starting to be rolled out across the UK and Europe. But while the core Open Banking payment solutions are live, there is a long way to go until we see the widespread adoption… Read More

Revolut Ties Into QuickBooks in Open Banking Move

Digital bank Revolut has utilized Open Banking APIs for the first time with a tie-in to Intuit QuickBooks, according to a note from Revolut. This will be the first time that Revolut has collaborated with a third-party provider to use the advanced functionality of UK… Read More

Everybody Wants it: Survey Indicates that 97% of Merchants Want Open Banking as Provided by PSD2

A recenty survey indicates that merchants are very interested in Open Banking. While the topic started as an esoteric policy goal with few people really understanding what it meant, a report from Sentenial/Nuapay indicates popular interest exists and that 97% of merchants are already looking… Read More

Koyo Raises $4.9 Million in Debt & Equity, Plans UK’s First Open Banking Fueled Online Lender

Koyo, a Fintech in the online lending sector, has raised $4.9 million in debt and equity capital in a funding round led by Forward Partners with participation from Seedcamp. The company reports a few interesting co-investors including Christian Faes, founder & CEO of LendInvest and… Read More

BNY Mellon Executive: There’s More Open Banking Activity in US B2B Payments Industry than in the Eurozone

Laura McGortey, director of strategic partnership solutions at New York-based BNY Mellon (NYSE: BK), a multinational banking and financial services holding company, says that there is more open banking activity in the US business-to-business (B2B) payments industry, when compared to the Eurozone (on the last… Read More

Capitalise.com Offers Instant Credit in New Partnership with iwoca and “High Street Bank”

Capitalise.com has announced a new partnership with iwoca and an unnamed “high street bank” to provide instant decisions on credit for participating businesses labeled “Instant Offers.” The service is said to remove any delay for online lending. iwoca is an online lender that offers loans… Read More

Open Banking Competition: More than 100 Fintechs Applied to Participate in UK’s Open Up 2020 Challenge

More than 100 Fintech companies have applied to participate in the UK’s Open Up 2020 Challenge. The firms will be competing to tap into the evolving open banking economy and a chance to win a £1.5 million prize fund. Managed by Nesta Challenges through a… Read More

American Express Announces Plans to Launch Open Banking Product For UK Consumers

American Express (NYSE: AXP) announced on Monday its plans to launch an open banking product that will enable UK customers to pay for online purchases with a bank transfer. According to American Express, Pay With Bank Transfer will be a real-time payment option to current… Read More

Fintech Emma Says Some Banks are Not Meeting Open Banking Rules

Beginning September 14, 2019, European Union rules regarding “Strong Customer Authentication” (SCA), part of PSD2, kick in. These rules, which also impact the UK, involve the way in which banks or payment services providers verify their customers’ identity and validate specific payment instructions. Mandated API… Read More

BudgetBakers, Creator of Wallet App, Receives License from Czech National Bank to Join the Bank APIs

Fintech startup BudgetBakers has received regulatory approval from the Czech National Bank to join the bank’s API’s, according to a release. BudgetBakers has developed a Wallet global personal finance management application. The European PSD2 Directive instructs banks to make their client account data available to third… Read More

TrueLayer Forms New Partnership With ANNA Money For Small Business Open Banking Benefits

TrueLayer, a computer software company that enables companies to capitalize on new open banking initiatives in the UK, announced on Wednesday it has formed a new partnership with ANNA Money. According to TrueLayer, the partnership will enable ANNA to provide its customers with enhanced open… Read More

European Payment Provider Klarna Launches Open Banking Platform

Global payments provider Klarna announced on Thursday the launch of its new open banking platform. According to Klarna, the platform will enable access to more than 4,300 European banks through a single Access to Account (XS2A) API in line with Payment Services Directive (PSD2). Klarna… Read More

Tandem Teams Up With Token.io For Open Banking Opportunities

Turnkey open banking platform provider, Token.io Limited, announced on Monday it has formed a partnership with digital-first challenger bank Tandem Bank to achieve PSD2 compliance and leverage open banking opportunities. According to Token.io, Tandem is now looking to look beyond core compliance, developing innovative new services… Read More

Yolt Begins Beta Testing for Money App

Yolt announced on Monday it has begun beta testing for its smart thinking money app, Yolt Pay. Yolt reported that in this early stage of Yolt Pay, users be able to initiate payments on the Yolt platform. “We know it’s not perfect, but we wanted… Read More

Open Banking Fintech Bud Raises $20 Million Through Series A Funding Round

Bud, a UK-based open banking fintech startup, recently announced it raised $20 million through its Series A funding round, which involved participation by HSBC, Goldman Sachs, Banco Sabadell, ANZ and Investec . Founded in 2015, Bud describes itself as an early stage business that offers an… Read More

Lloyds Bank & Halifax Customers Now Able to Experience New Open Banking Feature on Mobile Banking App

Lloyds Bank announced last week that it and Halifax customers are now able to see their personal current accounts from different banks through the Lloyds Bank mobile banking app. According to Lloyds Bank, the new open bank feature now enables customers to safely and securely… Read More

Raisin Partners with Santander on Open Banking, Spanish Savers Gain Access to Higher Interest Rates

Fintech Raisin has announced a new partnership with Santander Spain with an “Open Banking Agreement” which allows customers to authorize the bank to share with Raisin defined data for the registration process, including a customer’s name, date of birth, ID or contact details. Thus, registration… Read More

Fintech News: The Biggest Fintech Stories of 2018

Fintech, or financial innovation, is pervasive within the financial services industry. Innovation has always existed in this sector of business but the advent of the internet combined with the creativity of risk taking entrepreneurs has engendered an accelerated period of disruptive change in finance. Think about… Read More

Send this to a friend