Tagged: open banking

June 18, 2024 @ 5:28 pm By Omar Faridi  |  

Over the past decade, digital finance apps and services have “accessed consumer-permissioned data to provide personalized experiences that serve many consumer needs,” according to an update from Plaid. As a result, consumers now have “more and better choices in the apps they can use to… Read More

June 17, 2024 @ 8:26 am By Omar Faridi  |  

DNA Payments is bringing more flexible payment options to the payments space, being one of the first to market in the UK by launching Open Banking for its axept PRO payment terminals, offering merchants even more ways for their customers to pay. The introduction of… Read More

June 15, 2024 @ 5:37 am By Omar Faridi  |  

TrueLayer, Europe’s open banking payments network, announces a partnership with digital lender Jaja Finance to enable credit card repayments. Jaja will leverage TrueLayer’s payments product “to offer instant pay-ins, allowing customers to make one-off credit card repayments directly from their bank account.” This functionality is… Read More

June 12, 2024 @ 7:22 pm By Omar Faridi  |  

Ozone API, the global open banking firm, recently announced a strategic partnership with Tuum, a core banking provider, to enable Tuum’s customers to comply with open banking regulations and commercialize open finance across the globe. The partnership represents a significant milestone “for both companies, combining… Read More

June 10, 2024 @ 4:02 pm By Omar Faridi  |  

The Consumer Financial Protection Bureau (CFPB) finalized a rule outlining the qualifications to become a recognized industry standard setting body, which can issue standards that companies can use “to help them comply with the CFPB’s upcoming Personal Financial Data Rights Rule.” The rule identifies the… Read More

June 8, 2024 @ 9:20 am By Omar Faridi  |  

Jonathan Gurwitz, the Credit Lead at Plaid helping customers incorporate cash flow data to make smarter risk decisions, noted recently that Plaid is announcing its Consumer Report, a new solution that “brings businesses real-time, actionable cash flow data along with credit risk insights through Plaid… Read More

June 4, 2024 @ 9:41 am By Omar Faridi  |  

Yapily, a provider of open banking solutions across UK and Europe, is announcing its partnership with mmob, an embedded finance enabler known for its universal API adaptor. This collaboration aims “to simplify and accelerate the deployment of Yapily’s open banking solutions by various firms, with… Read More

June 2, 2024 @ 2:17 pm By Omar Faridi  |  

Plaid is pleased to announce its collaboration with Western Union (NYSE: WU), a global leader in cross-border and cross-currency payments. The collaboration provides Western Union’s customers with open banking payments, giving them additional flexibility in “how to send money to their families and loved ones.”… Read More

May 12, 2024 @ 11:12 pm By Omar Faridi  |  

The growth of Open Banking in the United Kingdom has continued to accelerate. The latest data from Open Banking Limited, the independent entity established by the Competition and Markets Authority (CMA) to oversee its implementation, shows “more than 9 million active users and 14.45m payments… Read More

May 8, 2024 @ 9:47 am By JD Alois  |  

Panax, a cash management platform powered by AI [artificial intelligence] and Open Banking, has raised $10 million in Series A funding. To date, Panax has raised $15 million. Panax targets mid-market and large firms with complex treasury demands. The service enables the management of numerous… Read More

May 6, 2024 @ 9:55 pm By JD Alois  |  

Zūm Rails and Fiserv have partnered on a service that aims to enable US businesses with everything they need to offer direct bank-like services, without relying on a bank or other third-party providers. Zūm Rails describes itself as a Fintech that is leveraging open banking… Read More

May 5, 2024 @ 11:55 pm By Omar Faridi  |  

Instant payments, also called real-time payments, are a form of electronic payment that is said to be “available 24/7/365, with the payment processed and funds made available to the recipient instantly,” the latest Juniper Research report explains. However, there is not a singularly accepted definition… Read More

May 2, 2024 @ 11:28 am By JD Alois  |  

Orum has announced the launch of the “first-ever” no-code product built on top of FedNow to verify bank accounts instantly. FedNow is a US Federal Reserve service that enables instantaneous transfer solutions for financial services firms. Orum states that the no-code solution is better than… Read More

April 28, 2024 @ 9:20 pm By Omar Faridi  |  

Standard Chartered (LON: STAN) announced the launch of its new Open Banking Marketplace, which is described as being a one-stop platform that enables both existing and prospective clients to discover, identify, and test application programming interfaces (APIs) that best meets their business objectives in a… Read More

April 12, 2024 @ 3:39 am By Omar Faridi  |  

Trustly, a global enabler of Open Banking Payments, and Cross River Bank, a technology infrastructure provider that offers embedded financial solutions, are expanding their collaboration in instant payments with the addition of the FedNow Service. The development delivers the anticipated expansion of “an instant payment… Read More

April 11, 2024 @ 9:55 pm By Omar Faridi  |  

Atto, a provider of credit risk solutions using transactional data, is pleased to announce a strategic partnership with FICO (NYSE: FICO), a global analytics software firm, for the UK market. This partnership will enable UK lenders to easily integrate Open Banking data into the credit scoring… Read More

April 10, 2024 @ 9:25 am By JD Alois  |  

While the number of users benefiting from Open Banking continues to increase worldwide, there is a divergence between the concept of Open Banking and Open Finance – at least according to Salt Edge. Salt Edge is an open banking platform that provides services interested in… Read More

March 24, 2024 @ 9:17 pm By Omar Faridi  |  

Klarna, the AI-powered global payments network and shopping assistant, has today announced the launch of its flexible payment options on boots.com and in the Boots app in the UK and Ireland. This latest announcement follows the launch of Klarna in-store at Boots in 2022. Through… Read More

March 19, 2024 @ 7:07 am By Omar Faridi  |  

Generative AI firm, Hazy, and Open Banking data ownership platform, Unbanx, announced today the launch of the ethical data cooperative comprising synthetically generated financial transaction data. Transaction datasets provide analysts, hedge funds and other financial institutions with invaluable insights “into behaviors and trends which drive… Read More

March 16, 2024 @ 3:09 pm By Omar Faridi  |  

GoCardless, the bank payment company, has signed an agreement to acquire Sentenial Ltd, operating globally under the Nuapay brand, from EML Payments Limited (ASX: EML) subject to regulatory approvals. The acquisition will significantly scale GoCardless’ indirect channel proposition, consolidating its position as “a key payment… Read More