Open Banking

  • 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, ...
  • After B2B Payments Embrace The Cloud: What’s Next?

    July 16, 2019 Banks-embrace-the-cloudWhen consumers use mobile apps like Uber or iTunes, the expectation that payments occur in a seamless, integrated way represents a broader paradigm shift in the payments world — one ...
  • How PSD2 Is Changing ING Bank’s API Strategy

    July 16, 2019 Banks and merchants are racing to meet the Strong Customer Authentication (SCA) deadline as September 2019 approaches. Banks are innovating their application programming interface (API)  platforms to allow for more third ...
  • Canada’s Path Toward B2B Payables Modernization

    July 10, 2019 Canada-moves-toward-payment-modernizationCanada is embracing the payments modernization journey, with organizations like Payments Canada driving adoption of faster, more agile payment functionality in the country. Some of the biggest industry trends, including ...
  • The Intersection Of FX Management And Open Banking

    July 9, 2019 Neo-api-opportunitiesCorporate cash inflows and outflows present ample opportunity for friction and disruption — and, as a result, ample opportunity for innovation. As evolutionary forces in the financial services space, like ...
  • The FinTech Friction (And Opportunity) In Global Trade

    July 5, 2019 Although business lending requires the aggregation of data from a multitude of sources, there is typically only one financial institution managing the process. Trade finance and the facilitation of trade ...
  • What SCA Means For Europe And Beyond

    June 26, 2019 SCA on smartphoneWith the Strong Customer Authentication (SCA) deadline looming in September, the mandate by the European Banking Authority requiring “strong customer authentication” for all electronic payments over €10 is causing banks ...
  • How Banks Can Compete With FinTechs Under PSD2

    June 25, 2019 With Open Banking expanding across the EU, legacy FIs are increasingly at risk of losing customers to FinTech firms that now have access to previously siloed customer data. In the ...
  • How ACH Business Payments Pave The Way For US Open Banking

    June 24, 2019 In B2B payments, corporates’ continued use of paper checks confounds FinTech firms working to give businesses more affordable, faster and more efficient payment options. Yet, for many business payers, the ...
  • In The PSD2 Age, Banks Must Think Like FinTech Firms

    June 24, 2019 With the Strong Customer Authentication (SCA) compliance deadline less than four months away, banks are still underprepared. While banks continue to open their application programming interfaces (APIs) to third-party providers and ...
  • Trade Ledger Launches Invoice Finance-as-a-Service

    June 20, 2019 Open Banking platform Trade Ledger is introducing an invoice financing solution for banks and alternative lenders, the company announced this week. A press release on Wednesday (June 19) noted that Trade ...
  • How To Build High Performance Via Digital — and Humans

    June 18, 2019 digital platformsFraud is a two-headed beast, but the beast can be defeated as more consumers flock to marketplaces and other eCommerce destinations. Meanwhile, there are fresh ideas about how to scale ...
  • Open Banking Co Token Receives $36.5M Investment

    June 18, 2019 Open Banking Co Token Receives $16.5M Investment Led By Opera Tech VenturesTurnkey open banking platform Token has received a $36.5 million investment from a few investors, including Opera Tech Ventures, which is the venture division of bank BNP Paribas. Other investors ...
  • Citi: Scaling Open Banking Starts With Incentives And API Aggregation

    June 17, 2019 citi-Open-Banking-api-incentivesOpen banking is nothing if not a lot of moving parts and complications. But could merchant incentives help fuel this ongoing effort at digital payments innovation? That was one of the ...
  • Corporates’ Role In Helping Banks Tackle The Trade Finance Gap

    June 14, 2019 global digital paymentsThere are a lot of factors that have converged to create a whopping $1.5 trillion in trade finance availability in the global economy today. Banks’ risk appetite has lowered, while regulations, ...
  • How Overlay Services Add New Opportunities In Open Banking

    June 12, 2019 One year after the rollout of Open Banking in the U.K., researchers have found that a general understanding and awareness of the regulation remains low. Citing a Splendid Unlimited survey, ...
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