Tagged: open banking

UK Open Banking Platform Yapily Secures $13 Million Through Series A Funding Round Led By Lakestar

Yapily, an open banking platform based in the UK, announced on Monday it secured $13 million through its Series A funding round, which was led by Lakestar, an early investor of Skype, Spotify, Airbnb, Facebook, and Revolut, with participation from HV Holtzbrinck Ventures and LocalGlobe…. Read More

Nottingham-based Fintech Firm Tully Introduces a Coronavirus (COVID-19) Relief and Wellbeing network

Nottingham-headquartered Fintech firm Tully has introduced a Coronavirus (COVID-19) Relief and Wellbeing network. The network aims to offer a single, comprehensive online resource where individuals financially affected by the Coronavirus outbreak may get access to payment relief. Tully’s free of cost service accepts applications from… Read More

Open Banking: Salt Edge and Pannovate Collaborate on Instant PSD2 Compliance

Salt Edge, an open banking and authentication platform, and Pannovate, a payment and digital banking provider, have partnered to provide PSD2 compliant banking and payments programs in the UK and continental Europe. Pannovate is a payment technology company targeting Fintech, crypto, and Regtech. The company… Read More

Open Banking: Tink Acquires Eurobits Technologies for €15.5 million

Tink has acquired Eurobits Technologies, a provider of account aggregation services working with various banks and Fintechs. Current clients are said to include BBVA, Santander, La Banque Postale, and others. The purchase of Eurobits is expected to strengthen Tink’s bank connectivity coverage and buttress its… Read More

Hungary: Online Invoice Firm Billingo Partners with Open Banking Provider Salt Edge

Billingo, a billing platform operating in Hungary, has partnered with Salt Edge a firm developing Open Banking solutions. The combination of the two services have created the first online biller in the country to offer a range of opportunities fuelled by bank data aggregation, according… Read More

Open Banking: TrueLayer and Stake Partner on Transfers

TrueLayer and Stake have formed a partnership to speed up the transfer of money in the brokerage market.  Customers of Stake, a brokerage app, can now use “Payments Initiation” to transfer money to quickly make investments. The arrangement is said to be one of the… Read More

Credorax, a Fintech Bank and Smart Payments Firm, Partners Samsung SDS Europe to Introduce a DLT-enabled Reconciliation Platform

Credorax, a Fintech bank and smart payments solution provider, has committed to a memorandum of understanding (MoU) with Samsung SDS Europe, a company focused on developing digital transformation solutions.  The two firms plan to create and bring to market Credorax’s automated distributed ledger technology (DLT)-enabled… Read More

MENA Region’s Largest Open Banking Platform Tarabut Gateway to Conduct Several Interactive Workshops for Local Fintech Firms and Banks

Tarabut Gateway, MENA region’s biggest Open Banking platform, will be conducting a series of six different Open Banking Interactive Workshops, which have been designed to help individual consumers, banks and Fintech firms learn more about the new policy.  The first workshop will be conducted this… Read More

UK-based Featurespace, a Firm Focused on Fraud Prevention, Partners with Fintech Enfuce to Protect Customers from Cyberattacks

UK-based Featurespace, a firm that focuses on fraud prevention, confirmed on February 26 that Finland’s Enfuce, an open banking Fintech firm, will be using the Featurespace ARIC Risk Hub in order to protect its customers from online security threats. Established in 2016 by Denise Koskinen… Read More

JPMorgan Chase Sends Letter to Fintech Firms Warning it will Not Allow Access to Customer Data Unless they Accept New Agreement

JPMorgan Chase, the world’s sixth-largest bank in terms of total assets, has reportedly sent a letter to several Fintech firms in which it cautioned that they will no longer be allowed to access customer data unless they accept the terms of a new data access… Read More

Australian Government Passes New Bill to Extend Scope and Time Period Fintech Firms May Spend on Testing New Products

The Australian government passed the Treasury Laws Amendment (2018 Measures No. 2) Bill 2019 on February 10, 2020. The bill has been introduced in order to extend the overall scope and time period Fintech firms may spend on the country’s current framework. Updating the existing… Read More

UK-based Digital Bank Revolut Introduces Open Banking Feature to Allow Users to View Bank Accounts from External Providers from Company’s App

Leading UK-based digital bank Revolut has introduced a new Open Banking feature, which will allow users to view their bank accounts from other financial service providers from within the banking challenger’s app. Revolut partnered with financial API developer TrueLayer to allow all of its retail… Read More

Open Banking Is Promoting Fintech Adoption and Digital Transformation: Report

Fiserv, Inc. (NASDAQ: FISV), an established multinational firm focused on offering financial services technology platforms, has released a whitepaper highlighting how financial institutions that employ a strategic approach to open banking can promote competitive differentiation, improved client experiences and faster growth. Financial institutions have to… Read More

Canada and Open Banking: Second Phase of Review is Announced

Open Banking means different things for different people – depending on the regulatory jurisdiction where you are standing. First championed by the UK, in brief, Open Banking can mean mandated APIs for financial services firms to facilitate interoperability and choice in a very secure manner…. Read More

UK-based Digital Bank Vive Acquires Banking License from Bank of England

Vive, a newly established UK-based digital bank, has reportedly acquired a banking license with certain restrictions from the Bank of England (BoE). The new digital bank aims to provide personal loans and a fixed-rate savings account. It will be launching with an Open Banking-based funds… Read More

Open Banking Platform Tink Secures €90 Million Through Latest Investment Round to Support European Expansion

Tink, a Sweden-based fintech that provides APIs to create next-generation banking services, announced on Monday it secured €90 million through its latest investment round, which was co-led by Dawn Capital, HMI Capital, and Insight Partners. The latest funding comes less than a year after Tink… Read More

FinnoSummit LatAm Fintech Revolution Part 4: LatAm Digital Transformation and Open Banking

Part 4 of a series of articles covering the fast-emerging Fintech ecosystem in Latin America. During the inaugural FinnoSummit addressing innovations in financial services in Latin America (LatAm), the speaker and audiences settled on a big issue; infrastructure and digital transformation. Most of the Latin… Read More

Over 40 South Korean Fintech Firms Operating as SMBs Failed to Pass Security Checks Needed to Obtain Open Banking Licenses

Over 40 Fintech companies operating as small and medium-sized (SMEs) businesses in South Korea reportedly were unable to clear the appropriate security checks needed to obtain final approval to take part in the open banking initiative. The Fintech companies had applied for operational licences in… Read More

UK Financial Conduct Authority Issues “Call for Input” on “Open Finance”

We have all heard about Open Banking, a mandate to require proactive API access to financial services while migrating control of all data and access back to consumers, now we have a movement for “Open Finance.” According to the Financial Conduct Authority (FCA), Open Finance… Read More

Payment Tech Layer Provider VoPay Partners American Fintech Hydrogen to Offer End-to-End Open Banking Payments

VoPay, a payment technology layer that allows companies to accept, collect and send online bank account payments like credit cards, has teamed up with Hydrogen, an American Fintech acceleration platform. Both companies aim to work cooperatively to provide end-to-end open banking payments. The partnership will… Read More

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