Tagged: open banking

October 25, 2023 @ 9:48 pm By Omar Faridi  |  

Prism Data, a cash flow underwriting and data analytics platform, announced today that it has raised $5 million in seed funding. This investment round was reportedly “led by Obvious Ventures, with participation from Citi Impact Fund and Core Innovation Capital.” Prism’s new funding follows “a… Read More

October 20, 2023 @ 11:06 pm By Omar Faridi  |  

Token.io, the account-to-account (A2A) payment infrastructure provider has announced the expansion of its direct open banking connectivity network to Sweden, Norway, Denmark and Finland, where it now “offers Account Information Services (AIS) and Payment Initiation Services (PIS) services.” This unlocks new opportunities “for Payment Service… Read More

October 20, 2023 @ 10:07 am By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has proposed new rules that aim to boost Open Banking (Open Finance) in the United States, according to a statement by the agency. Open Banking is a concept where financial data and access to this data is easily shareable… Read More

October 19, 2023 @ 9:57 pm By Omar Faridi  |  

Mastercard (NYSE: MA) is partnering with players across the ecosystem, including Worldpay from FIS, the merchant solutions business of global financial services technology provider FIS, and Zip, a buy now, pay later firm, “to scale new open banking-powered solutions that enable more payment choice, empower… Read More

October 19, 2023 @ 9:48 am By Omar Faridi  |  

UK Fintech TrueLayer has joined Stripe’s Payment Element for supporting Open Banking payments. UK’s TrueLayer has reportedly become the first European Open Banking payment solution to be added to Stripe’s Payment Element. This partnership allows Stripe merchants in the United Kingdom and the EU to… Read More

October 11, 2023 @ 8:23 am By Omar Faridi  |  

One million VRP transactions have been made by UK consumers in just a month and have been powered by TrueLayer. Moving money, simplifying savings, automating credit repayments — whatever it is, variable recurring payments are growing, according to an update from TrueLayer. The company also… Read More

October 10, 2023 @ 9:36 am By Omar Faridi  |  

Tarabut, MENA’s leading open banking platform, has announced a new partnership with FLOOSS, a Bahrain-based digital lending platform. FLOOSS is reportedly the “first” and fastest digital loan app in Bahrain “offering consumer loans of up to BHD 750 with a repayment period of up to… Read More

September 28, 2023 @ 11:58 am By JD Alois  |  

Apple (NASDAQ:AAPL) is extending its Fintech services by enabling real-time connections to bank accounts in the UK, and displaying balances in the Apple Wallet. The UK has emerged as a leader in open banking technology, which means financial firms are required to provide access to… Read More

September 27, 2023 @ 7:23 am By Omar Faridi  |  

Atomic, a key player focused on financial connectivity solutions, announced the launch of PayLink, a solution suite that streamlines payment switching, “making it easier for consumers to switch their primary banking relationship.” In addition to providing a significantly improved consumer experience, this solution brings Atomic… Read More

September 26, 2023 @ 8:40 am By Omar Faridi  |  

Standard Life, part of Phoenix Group, which claims to be the UK’s largest long-term savings and retirement business, has partnered with Moneyhub, the Open Banking and Open Finance platform, to deliver its pensions dashboard. This marks the first UK provider to commit to offering a… Read More

September 23, 2023 @ 6:12 pm By Omar Faridi  |  

Nubank (NYSE:NU), which claims to be one of the world’s largest digital financial services platforms, has just completed one year of its adherence to Open Finance (a system that allows customer data sharing among financial institutions with consent) and is “positively impacting its customers’ financial… Read More

September 8, 2023 @ 4:29 pm By Omar Faridi  |  

BNY Mellon (NYSE: BK) announced the launch of BankifySM, an open banking payments solution that helps organizations “receive consumer payments from bank accounts, with a seamless user experience and that offers guaranteed funds for business receivables.” Bankify couples BNY Mellon‘s transaction payments expertise “with Trustly’s… Read More

September 6, 2023 @ 9:26 pm By Omar Faridi  |  

Acquired.com, the UK payments specialist and payment initiation service provider, has launched an all-in-one Hosted Checkout solution in order “to equip merchants with the ability to offer all major payment methods, including Open Banking payments, via a single integration.” Hosted Checkout is “a pre-built, highly… Read More

August 17, 2023 @ 9:37 am By JD Alois  |  

Open banking provider TrueLayer has appointed Michael Brown as its new Head of E-Commerce, according to a statement from the firm.  TrueLayer said the hire was part of  push into more verticals as open banking adoption grows. Prior to joining the Fintech, Brown was Director… Read More

August 11, 2023 @ 11:18 am By Omar Faridi  |  

Brite Payments announced that it has expanded its product coverage with the launch of open banking-powered instant payments and payouts in Denmark. With full product coverage in Sweden and Finland, the addition of Denmark further strengthens the second-generation fintech’s footprint “as it continues its expansion… Read More

August 10, 2023 @ 5:18 pm By Omar Faridi  |  

Payment Components, which claims to be an expert in AI, payments and open banking solutions, is announcing the partnership with Brillio, a digital transformation services provider. The partnership between the two companies is “part of Payment Components’s vision to empower ISO 20022 / CBPR+ adoption… Read More

July 31, 2023 @ 11:52 am By Omar Faridi  |  

The Board of Vanquis Banking Group plc, a specialist bank, is pleased to announce the acquisition of the money-saving fintech Snoop Limited. Snoop provides its customers with personalized insights “to help them better understand and manage their finances.” The Snoop app uses AI and open… Read More

July 29, 2023 @ 10:07 am By Omar Faridi  |  

As a follow-up to the recent webinar Envestnet hosted with open banking experts around the world, we caught up with Lisa Novier, Head of Governance, Risk & Compliance at Envestnet Data and Analytics. Envestnet claims it has been at the forefront of open banking adoption… Read More

July 27, 2023 @ 9:16 am By JD Alois  |  

Fintech software provider Finastra is partnering with MX Technologies – an open banking or “open finance” provider. According to a company statement, Finastra will be integrating MX’s Personal Financial Management (PFM), Insights, and Account Aggregation solutions with Finastra’s Fusion Digital Banking solution. Raymond den Hond,… Read More

July 24, 2023 @ 9:45 am By Omar Faridi  |  

Tink, which claims to be one of Europe’s leading open banking platforms, reveals research finding that “an estimated 40% of people in the UK would like their bank to offer tools to track their environmental impact.” Based on a survey of over 2,000 UK consumers… Read More