Open Banking

  • Beyond The US, Open Banking Goes Beyond The Consumer

    November 13, 2019 There may not be an Open Banking mandate in the U.S., but that doesn’t mean the payments and financial services market isn’t embracing data sharing and integration. The Clearing House took ...
  • SCA Awareness Issues Persist Among EU Merchants, Consumers

    November 7, 2019 SCAEarlier studies found a surprising lack of both consumer and merchant awareness about the European Union’s Strong Customer Authentication (SCA) and second Payment Services Directive (PSD2) regulations. Post-SCA deadline, a lack ...
  • FinTech Firms Take The Reins In Open Banking For SMBs

    November 6, 2019 Open Banking continues to explore new B2B use cases. This week, FinTech firms took the reins as they introduced application programming interface (API)-powered solutions for small businesses (SMBs). Experian, VoPay ...
  • How Open Banking Drives Real-Time Payments Traction

    November 4, 2019 Competitive forces in the payments and financial services sector have driven two key trends in the U.S.: the acceleration of payments, and the adoption of open banking frameworks. Both are key ...
  • South Korea Starts Pilot-Launch Of Open Banking System

    November 1, 2019 South Korea Is Going To Pilot Open BankingSouth Korea has started a pilot-testing program for open banking, according to a release. The company started testing on Wednesday (Oct. 30). The South Korean government said it was going to ...
  • Open Banking Goes Straight To The Corporate Customer

    October 30, 2019 Open Banking Goes To The Corporate CustomerOpen banking jumped onto the financial services scene with a focus on enabling consumer-facing FinTech platforms to connect with their users’ bank account data. The model quickly gained traction and ...
  • Revolut To Extend Open Banking APIs To QuickBooks Users

    October 30, 2019 Revolut for Business will now allow businesses registered in the U.K. to make a direct and secure connection into the Intuit QuickBooks Online accounting platform via Open Banking application programming ...
  • Citi Explores The Real-Time User Experience

    October 30, 2019 Citi podcast on cross-border paymentsThe payments industry has been riding the wave of shifting consumer habits and demands, placing the end-user experience at the forefront of new products, services and infrastructure. Those users, both ...
  • Koyo FinTech Raises $4.9M To Assist Underbanked UK Borrowers

    October 29, 2019 FinTech startup Koyo, which uses Open Banking to offer loans to underbanked U.K. borrowers, announced that it has raised $4.9 million in funding. The round, a mixture of debt and ...
  • Coconut Connects With UK SMB Bank Accounts

    October 28, 2019 Smart accounting app Coconut aims to automate bookkeeping for self-employed and small businesses (SMBs) around the U.K. Starting next month, customers that have a current account or credit card with 20 ...
  • What The World Can Learn From New Zealand FinTech

    October 25, 2019 Why The New Zealand FinTech Scene Offers Global LessonsNew Zealand is a country that can be easy to overlook when it comes to FinTech. But the story of how payments are evolving there can offer lessons for the ...
  • Multi-Bank Connectivity Puts The Pressure On Treasury Tech

    October 24, 2019 cross border paymentsFinancial institutions are investing significantly in embracing online banking and supporting a positive digital experience for their end-users. But when a multinational organization has dozens, or even hundreds of bank ...
  • Open Banking Expands Its Horizons For Small Business Finserv

    October 21, 2019 The evolution of financial services has opened the door for open banking to take place. While in the U.K., Europe and elsewhere, regulations mandate that financial institutions open up customer data ...
  • What Faster Payments Means For SMBs’ Multi-Bank Relationships

    October 17, 2019 Without regulatory mandates, the Open Banking wave is crashing on the shores of the U.S. financial services (FinServ) sector. Market pressures and more sophisticated demands from customers are calling on banks ...
  • Codat Pulls SMB Accounting Into The Open Banking Fold

    October 16, 2019 Small business (SMB) accounting FinTech Codat is teaming up with five°degrees to join its Open Banking partnership, according to Verdict on Tuesday (Oct. 15). London-based Codat, which enables small businesses to ...
  • Paysend Wields Open Banking For Business Account Services

    October 10, 2019 Paysend Launches Open Banking Biz ServicesU.K. FinTech Paysend is launching a new service for corporates to access integrated banking and payment services, the result of a collaboration with open banking software company Crassula. In a press ...
  • Open Banking Spurs FI/FinTech Linkups Through Incubators

    October 9, 2019 New regulations governing financial services – and transparency – as part of Open Banking are spurring new partnerships that seek to leverage data to create new financial products.  In one ...
  • Trending: How EU Regulators Are Complicating SCA Compliance

    October 7, 2019 Strong Customer Authentication (SCA) is just weeks-old and already mired in controversy. Merchants in the European Union (EU) are still wondering exactly what changes the regulation will bring when it ...
  • How Small FIs’ SMB Lending Journeys Nudge The US Toward Open Banking

    October 4, 2019 banking as a serviceTo service Main Street businesses, it’s an obvious advantage for a financial institution to actually be on Main Street. For community banks and credit unions, their physical proximity to the ...
  • Trade Finance Gets Boost Via Banks, APIs

    October 3, 2019 HSBC debuts a new API geared toward trade finance. Separately, cross-border payments embrace business payments using XRP. In Russia, eight banks sign on to the Russian version of SWIFT.
  • VibePay Being Tested With 1K Members In UK 

    September 30, 2019 Social Payment App In Testing By 1K Vibe MembersThe London-based social payment app VibePay is being trialed with 1,000 Vibe members, the company announced in a press release on Monday (Sept. 29). VibePay is a payment initiation service (PIS) ...
  • HSBC Deploys Trade Finance API For Partner Banks

    September 27, 2019 HSBCHSBC is continuing its open banking strategy with the deployment of a new application programming interface (API) designed to promote bank collaboration to facilitate trade finance. Reports in Global Trade Review ...
  • UK’s Nationwide Makes Open Banking FinTech Investments

    September 24, 2019 U.K. financial institution Nationwide Building Society has made an investment in open banking FinTech BankiFi, the companies revealed in an announcement Monday (Sept. 23). With a focus on business banking, BankiFi ...
  • Amex Launches Pay By Bank

    September 23, 2019 Amex To Roll Out Real-Time eCommerce OfferingAmerican Express announced it is planning to roll out a new real-time product that will let U.K. consumers pay for goods and services online, the company said in a press ...
  • Banks’ Definitive B2B Payments Guide To Sibos

    September 23, 2019 Corporates have growing expectations for faster, more efficient and more secure B2B payments — whether their money is moving from one business unit to another or one country to another. ...
  • Deutsche Bank Takes Stake In Open Banking FinTech

    September 19, 2019 Deutsche Bank Takes Stake In Open Banking FinTechDeutsche Bank has acquired a 4.9 percent stake in the German-based FinTech Deposit Solutions, according to a Deutsche Bank press release on Thursday (Sept. 19). Deposit Solutions provides open banking technology ...
  • Open Banking Startup Bud Lays Off One-Fifth Of Workforce

    September 18, 2019 Open Banking Startup Lays Off One-Fifth Of StaffOpen banking FinTech startup Bud is reportedly laying off up to one-fifth of its staff just months after announcing a $20 million fundraise, The Telegraph reported on Monday (Sept. 16). According ...
  • FinTech/API Efforts Gain Ground in Europe

    September 18, 2019 Open banking is opening doors for FinTech and FI collaborations, where cross pollination of financial services and products is gathering momentum.  In Europe, new offerings bring real time management of ...
  • SWIFT Reveals New API Standard For Pre-Authorization Of Funds

    September 5, 2019 SWIFT, pre-authorization, API, banking, FinTechA new API standard for the pre-authorization of funds is being rolled out by SWIFT, clearing a path for a revolution in financial services enabled by open banking, the company ...
  • Deep Dive: How Open Banking Can Help Credit Unions Succeed

    August 29, 2019 piggy banks The market share of credit unions is only a fraction of their larger bank counterparts, but they tend to inspire a greater sense of loyalty among customers. Data from PYMNTS’ ...
  • How Open Banking Can Benefit Credit Unions

    August 28, 2019 credit unionWhile all financial institutions (FIs) operate on customer relationships, trust and loyalty can play a larger role for credit unions. According to PYMNTS’ Credit Union Innovation Index, 65 percent of ...
  • Report: Data Key To Credit Union Member Retention

    August 27, 2019 One of the largest factors that sets credit unions (CUs) apart from large banks and FinTech providers is their emphasis on member relations. According to PYMNTS’ Credit Union Innovation Index, ...
  • Bottomline Doubles Down On Data Intelligence For FY 2020

    August 9, 2019 Bottomline Doubles Down On Data IntelligenceCommercial payments firm Bottomline Technologies is doubling-down on data intelligence after posting an 11 percent year-on-year increase in subscription and transaction revenues for the fourth quarter of fiscal year 2019, ...
  • Taking On SMB Banking Friction Without Reinventing The Wheel

    August 7, 2019 Banking as a ServiceThe jury is still out on the future of opening banking in the U.S. Without a regulatory mandate, many in the financial services and FinTech space believe that competition will ...
  • Bottomline Launches Open Banking API

    August 7, 2019 Bottomline Launches Open Banking APIBusiness payments technology firm Bottomline Technologies has rolled out a suite of services for banks to elevate their customer engagement with corporate services. In a press release on Tuesday (Aug. 6), ...
  • Solving The Gig Economy’s T&E Puzzle

    August 1, 2019 Last month, new data on the U.K.’s gig economy surfaced from the University of Hertfordshire, concluding that the number of gig workers in Britain has more than doubled in the ...
  • Open Banking Takes On Bad Rap Of Merchant Cash Advance

    July 31, 2019 The merchant cash advance is considered the payday loan for many in the small business lending market — and that’s not necessarily a good thing. While designed to connect small ...
  • Brazil’s Nubank On The Universal Pain Points Of Small Business Banking

    July 30, 2019 nubank-Brazil-open-bankingThe U.K. may be the world’s hotbed for challenger banks, but it’s not the only market witnessing a surge in bank competition and industry evolution as a result of FinTech ...
  • Zeta Connects The Inflows And Outflows Of Corporate Payments

    July 29, 2019 B2B paymentsIn corporate payments, the term “silo” is synonymous with “headache.” The complexities of business transactions not only mean various financial functions, from accounts payable to payroll, are stuck in their ...
  • Why ING Is Taking A Platform Approach To PSD2 And Open Banking

    July 18, 2019 digital-banking-PSD2As the second Payment Services Directive (PSD2) brings more third parties into the European financial world, banks are seeing a shift in their relationships with customers. To withstand the shift, ...