Tagged: psd2

European Banking Authority Releases Report on Data Provided by PSPs on SCA Compliance Readiness

The European Banking Authority (EBA), a regulatory body of the European Union that’s headquartered in Paris, released a report, earlier this week, on the data offered by payment service providers (PSPs) on their readiness to apply strong customer authentication (SCA) for the set of payment… Read More

Open Banking: UK’s Digital Bank Zopa Explains how Consumers Can Benefit from Financial Data-Sharing

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

Keith Grose from Plaid Says UK has Taken the Lead in Fintech related Developments like Open Banking, PSD2

While attending a recently-held panel session for this year’s UK Fintech Week , moderator Kristy Duncan, CEO at Women in Payments, acknowledged that the United Kingdom and the European Union could potentially benefit from an updated regulatory framework that supports innovative projects and competition. As… Read More

DeFi Needs a More Reliable Credit Scoring System According to Blockchain Platform Ontology Founder Li Jun

Decentralized finance (DeFi) requires a more reliable credit scoring system, however, we need to be cautious, according to Ontology (ONT) Founder, Li Jun. Jun explains that credit scores have been “a cornerstone of risk evaluation in the global banking systems for decades.” He adds that… Read More

Open Banking May Lead to New Revenue Streams for Financial Service Providers, PaymentComponents Reveals

The team at PaymentComponents, a UK-based firm that’s empowering Open Banking with agile PSD2 and API frameworks (developing solutions for banks, corporates, and developers including BaaS while supporting Fintech payments), notes that Open Banking could translate into additional revenue streams for financial institutions and other… Read More

Open Banking Payments Platform Token and BNP Paribas to Support Financial Transactions with SEPA, PSD2 APIs

Open Banking payments platform, Token, and BNP Paribas (EPA: BNP), a French international banking group that’s ranked as the 8th largest bank in the world in terms of total assets (appr. €2 trillion), have introduced an online payments service which aims to leverage the power… Read More

kevin. Raises €1.5 Million to Further Develop its PSD2 Product for Mobile Payments

kevin., a Lithuania-based Fintech startup, has raised €1.5 million in seed funding to further develop its “first of its kind” P2D2 product for mobile payments. kevin.’s solution is a PSD2-based open banking API that has been used to directly compete with card networks for mobile… Read More

UK Fintechs Can Establish Stronger Market Presence if they Adopt Better Open Banking Policies, According to Ian Liddell-Grainger

Ian Liddell-Grainger, who’s Chair of the All-Party Parliamentary Group on Open Banking and Payments in the UK, notes that Britain’s financial technology industry has been expanding rapidly with emerging Fintechs such as Monzo, Starling, Revolut and TransferWise. Ian points out that these companies are turning… Read More

Open Banking Fintech Nordic API Gateway Launches Aiia Platform to Meet PSD2 Opportunities for Secure Payments

Open Banking Fintech firm Nordic API Gateway has launched a platform, called Aiia, that aims to meet the opportunities of PSD2, which is a European regulation for digital payment services. PSD2 aims to make electronic payments more secure in Europe, support innovation and assist banking… Read More

Fintech Professional Explains how Payment Initiation Service Providers are Offering Improved Payment Solutions after PSD2 Went Live

Ciaran O’Malley, Head of Commercial Strategy at Trustly, a Stockholm, Sweden based financial services firm that aims to offer fast and secure online banking solutions, says that since PSD2 went live in September of last year, a “raft” of Payment Initiation Service Providers (PISPs) have… Read More

Germany has Over 800 Fintech Firms with $2.2 Billion in Funding Secured since January 2019: Report

Germany has one of the world’s most active Fintech sectors. It has become increasingly competitive with many new ventures being launched. There are more than 800 Fintech firms in Germany and $2.2 billion has been invested into the sector between January 2019 and August 2020,… Read More

New Zealand’s Fintech Zeeco Partners with Salt Edge, an Open Banking Solution Provider, to Access Users’ Bank Data and Automate Eco-contributions

New Zealand-based Fintech firm Zeeco has partnered with Salt Edge, a company that provides Open Banking solutions, in order to access users’ financial data and automate certain eco-contributions. As mentioned in a blog post published on Salt Edge’s official website: “With [rising] awareness [about] the… Read More

HyperJar Uses Salt Edge on PSD2 Compliance

Open banking service provider Salt Edge is helping HyperJar, a UK Fintech, adhere to PSD2 compliance needs. HyperJar provides a budgeting app and “eWallet” to help people manage their money more effectively. By partnering with Salt Edge, HyperJar is expected to be fully compliant in… Read More

Igal Rotem: Founder of Fintech Credorax Discusses Business Continuity Plans During COVID-19 Crisis

The economic downturn due to the Coronavirus (COVID-19) has led to small businesses re-evaluating their operations and business plans, in order to survive during these challenging times. Fintech firms and digital banks have been forced to lay off their employees as they try to cut… Read More

Regtech: Luxembourg-based Open Banking Firm LuxHub Secures €7.4 Million, Focused on PSD2 Regulatory Standards

Luxembourg-based Open Banking firm LuxHub has secured €7.4 million from its founder banking institutions, which include Banque Raiffeisen, BGL BNP Paribas, Post Luxembourg, and Spuerkeess. Established a few years back by these four banks, LuxHub claims it has assisted around 40 financial service providers with… 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: 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

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

National Bank of Romania Announces Fintech Innovation Hub Project, Aimed at Providing Guidance to Financial Services Firms

The National Bank of Romania (BNR) has introduced the Fintech Innovation Hub project, which the institution describes as “a platform for dialogue with companies developing innovative public interest solutions in the area of payment and financial services (FinTech)”. The Fintech-focused project has been launched at… Read More

Fintech Talent Should “Flow Freely” After Brexit, Says JCB International Executive Andrew Mitchell

Andrew Mitchell, VP Development and Infrastructure Support at JCB International, writes that the UK will be struggling to maintain its position as a global Fintech leader, and the nation’s professionals are concerned that there may be challenges accessing engineering, product, and financial services after Brexit…. Read More

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