Tagged: open banking

June 26, 2021 @ 9:25 pm By Omar Faridi  |  

The Rizal Commercial Banking Corporation (RCBC) has introduced a digital transformation initiative with assistance from the Rural Bankers Association of the Philippines (RBAP). The new project will be supporting the SynerFi Open Finance Network. This development has come shortly after the Bangko Sentral ng Pilipinas… Read More

June 25, 2021 @ 1:08 am By Omar Faridi  |  

After an extensive and thorough selection process, Hometrack, an established provider of insight and intelligence to the United Kingdom’s mortgage sector, has decided to work with Moneyhub, an Open Finance data, intelligence, and payments service for customer-focused firms. Moneyhub will be serving as Hometrack’s preferred… Read More

June 24, 2021 @ 8:02 am By Omar Faridi  |  

Visa (NYSE: V) will be acquiring European Open Banking Fintech Tink for €1.8 billion. The acquisition should help with filling a Plaid-shaped hole in Visa’s existing portfolio after a $5.4 billion deal to acquire the financial data-sharing firm was unsuccessful (following pushback from regulatory authorities)…. Read More

June 22, 2021 @ 10:07 am By Omar Faridi  |  

TrueLayer, Europe’s Open Banking platform, reveals that it has launched a new approach to account ownership checks with its Verification API. As noted in the announcement from TrueLayer, the Verification API will be leveraging Open Banking along with with machine learning algorithms. This should help… Read More

June 22, 2021 @ 7:54 am By Omar Faridi  |  

UK-based Tide, a business financial platform, confirmed that it will be introducing Cashflow Insights this month in order to assist small business owners with enhancing their cash flow management while addressing delays in payments. The new solution should improve how credit scores may be used… Read More

June 20, 2021 @ 9:08 pm By Omar Faridi  |  

Indonesia-based Brankas, an Open Banking services provider, recently revealed that it has managed to exceed 10 million monthly API calls with more than 80 network partners. The Brankas platform currently operates in over six different countries and has teamed up with over 30 financial institutions… Read More

June 18, 2021 @ 10:02 am By Omar Faridi  |  

London-headquartered Volt, an open payments gateway provider, has secured $23.5 million in capital through a Series A round that was led by EQT Ventures. Augmentum Fintech, Fuel Ventures, and angel investors including Adyen co-founder Robert Kraal and FIS non-executive director Gabriel de Montessus took part… Read More

June 15, 2021 @ 7:46 pm By Priyanka Pani  |  

Payments Fintech Klarna has launched a Comparison Shopping Service (CSS) to help partner retailers boost customer reach and budget savings. David Sandström, Chief Marketing Officer at Klarna, said, “…we offer retailers a more effective and cheaper way to increase their customer reach and convert highly… Read More

June 15, 2021 @ 7:56 am By Omar Faridi  |  

Italy-based Fabrick, an Open Banking ecosystem, is introducing various API-powered solutions that aim to harness the power of Open Finance. Fabrick has developed two different solutions that are reportedly based on Mastercard APIs: InControl for Business and Identity Check Mobile (IDCM). They are used to… Read More

June 14, 2021 @ 11:08 pm By Priyanka Pani  |  

The UK has emerged as the leading adopter of Open Banking, with it’s clear functionality and widespread mandating of interesting features, such as bulk payments and variable recurring payments, as per new data released by Open Bank firm Yapily. The UK was followed by countries… Read More

June 10, 2021 @ 12:33 pm By Omar Faridi  |  

roThe team at Nordigen notes that it’s just been half a year since they announced Europe’s first “free” Open Banking API, however, they’ve already managed to introduce 1,000 bank integrations and acquire an additional €2.1 million. The Latvia-based Nordigen team writes in a blog post… Read More

June 9, 2021 @ 11:20 am By Omar Faridi  |  

During the past year, Latvia and Israel have experienced a significant surge in Fintech interest, according to a recent analysis published by the Fintech News Network. Google Trends data for the period between April 2020 and April 2021 reveals that online search queries for Fintech… Read More

June 8, 2021 @ 6:00 pm By Priyanka Pani  |  

London-based Yapily, a leading Open Banking infrastructure provider, has launched a new bulk payments service in the UK market. Yapily has started the service by going live with Comma, an SME payments platform in that country.    Yapily claims to have simplified the complex process of bulk payments… Read More

June 7, 2021 @ 8:58 pm By Omar Faridi  |  

Australia-based Frollo, the “purpose-driven” Fintech firm that offers financial management and Open Banking services, has introduced a new feature for its budgeting app that allows customers to check their real time balance with Siri and the firm’s Open Banking connections. Some common use-cases for voice… Read More

June 6, 2021 @ 9:39 am By Omar Faridi  |  

The team at digital bank Revolut notes that being able to work effectively in a digital environment is very important for small businesses. After a year that challenged many SMEs globally to adapt and become more flexible due to the COVID outbreak, everything from customer… Read More

June 4, 2021 @ 8:18 am By Omar Faridi  |  

Finland-based Enfuce is teaming up with Visa in order to introduce a fast-track, 8-week program for European Fintech firms. The program should help companies with launching their own payment cards. Under the new program, Fintech firms can provide their clients with physical and virtual payment… Read More

May 26, 2021 @ 8:37 am By Omar Faridi  |  

UK-based LendInvest, a property finance Fintech, reveals that they’ve been an early Open Banking adopter, as part of the Buy-to-Let process, using the technology’s potential to facilitate faster deals. LendInvest Senior Underwriter, Tom Steer, recently discussed how Open Banking is working for the company’s underwriting… Read More

May 25, 2021 @ 2:09 pm By Omar Faridi  |  

Open Banking is about giving users better control over their banking information. Instead of your bank hoarding the details regarding your transactions and account, users are able to decide how and when they want to share these details with other financial services providers and other… Read More

May 22, 2021 @ 10:09 am By Omar Faridi  |  

The reserve bank of Bahrain has shared its commentary on the work being done by retail banks to implement the infrastructure for compliance with the Bahrain Open Banking Framework (Bahrain OBF). This work was carried out after a grace period that allowed for implementation which… Read More

May 18, 2021 @ 11:47 pm By Omar Faridi  |  

Over 25% of UK-based charities have seen their income levels decline in 2020 as the impact of the COVID-19 outbreak and related lockdown measures have negatively affected the nation’s businesses and individual consumers. Almost a third of UK organizations are now concerned regarding their future… Read More