Tagged: open banking

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

Minna Technologies and Finland’s Largest Financial Group, OP, Extend Partnership Involving Open Banking Program

Minna Technologies and Finland’s largest financial group, OP, have extended their partnership which was established last year during OP’s open banking startup partnership program. Minna Technologies was chosen last year to take part in OP’s open banking program. John Nyström, country manager Finland at Minna… Read More

Tandem Streamlines Open Banking with TrueLayer Partnership

Challenger bank Tandem has partnered with TrueLayer in a move to better connect Tandem’s 800,000+ customers to synchronize their accounts to both High Street and other challenger banks. Truelayer is described as Europe’s leading provider of financial APIs. The integration supports all major European banks… Read More

Australia-UK “Fintech Bridge” Is Under-Utilized, as there’s Significant Potential for New Agreements, Says Aussie Senator Jane Hume

Australia’s Senator Jane Hume has suggested that there’s significant potential for new international agreements to lead the nation’s Fintech companies into emerging financial markets. Hume pointed out that Australia’s present agreement with the UK to promote exports of Australia’s financial technology has not been used… Read More

Open Banking and Compliance Platform Railsbank Establishes Business Offices in Singapore

Singapore has been ranked number one in Asia and eighth worldwide when it comes to innovation and embracing the latest technologies. Singapore is also recognized as one of the world leaders in key sectors including Fintech,  engineering, manufacturing, healthcare, biomedical sciences, urban solutions and sustainability,… Read More

House Financial Services Committee Schedules Next Fintech Task Force Meeting to Discuss the Role of Big Data

Big data is on the agenda for the House Financial Services Committee’s Task Force on Financial Technology. The Fintech Task Force will convene for a hearing entitled, “Banking on Your Data: the Role of Big Data in Financial Services.” The Fintech Task Force is relatively… 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

Revolut Ties Into QuickBooks in Open Banking Move

Digital bank Revolut has utilized Open Banking APIs for the first time with a tie-in to Intuit QuickBooks, according to a note from Revolut. This will be the first time that Revolut has collaborated with a third-party provider to use the advanced functionality of UK… 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

Koyo Raises $4.9 Million in Debt & Equity, Plans UK’s First Open Banking Fueled Online Lender

Koyo, a Fintech in the online lending sector, has raised $4.9 million in debt and equity capital in a funding round led by Forward Partners with participation from Seedcamp. The company reports a few interesting co-investors including Christian Faes, founder & CEO of LendInvest and… Read More

BNY Mellon Executive: There’s More Open Banking Activity in US B2B Payments Industry than in the Eurozone

Laura McGortey, director of strategic partnership solutions at New York-based BNY Mellon (NYSE: BK), a multinational banking and financial services holding company, says that there is more open banking activity in the US business-to-business (B2B) payments industry, when compared to the Eurozone (on the last… Read More

Capitalise.com Offers Instant Credit in New Partnership with iwoca and “High Street Bank”

Capitalise.com has announced a new partnership with iwoca and an unnamed “high street bank” to provide instant decisions on credit for participating businesses labeled “Instant Offers.” The service is said to remove any delay for online lending. iwoca is an online lender that offers loans… Read More

Open Banking Competition: More than 100 Fintechs Applied to Participate in UK’s Open Up 2020 Challenge

More than 100 Fintech companies have applied to participate in the UK’s Open Up 2020 Challenge. The firms will be competing to tap into the evolving open banking economy and a chance to win a £1.5 million prize fund. Managed by Nesta Challenges through a… Read More

American Express Announces Plans to Launch Open Banking Product For UK Consumers

American Express (NYSE: AXP) announced on Monday its plans to launch an open banking product that will enable UK customers to pay for online purchases with a bank transfer. According to American Express, Pay With Bank Transfer will be a real-time payment option to current… Read More

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