Open Banking

Open banking is a financial services term as part of financial technology that refers to: The use of open APIs that enable third-party developers to build applications and services around the financial institution. Greater financial transparency options for account holders ranging from open data to private data.

CFPB Takes First Steps for Open Banking, Big Tech Scrutiny
CFPB Takes First Steps for Open Banking, Big Tech Scrutiny
May 25, 2022  |  CFPB

When Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra testified on Capitol Hill in late April about the agency’s future plans to promote open banking...

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PYMNTS AM Radar: MatchMove Buys Shopmatic, Hospitality in Virtual Kitchens
PYMNTS AM Radar: MatchMove Buys Shopmatic, Hospitality in Virtual Kitchens
May 23, 2022  |  Investments

Today is May 23. It’s Victoria Day in Canada. A holiday originally meant to mark the birthday of Queen Victoria, it now serves as a...

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Open Banking Bumpy but Adoption Curve Better Than Contactless Payments
Open Banking Bumpy but Adoption Curve Better Than Contactless Payments
May 23, 2022  |  Banking

Despite its potential to transform the financial services sector, the rollout of the open banking scheme in the U.K. to provide secure, third-party access to...

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Legacy Banks Must Step up Real-Time Data Analytics
Legacy Banks Must Step up Real-Time Data Analytics
May 19, 2022  |  Banking

In today’s fast-paced digital world, traditional financial institutions have a problem on their hands. Get the Full Story Complete the form to unlock this article...

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EU Regulator Launches PSD3, Open Finance Consultations
EU Regulator Launches PSD3, Open Finance Consultations
May 18, 2022  |  Regulation

The European Commission has launched a public consultation to gather information for its review of the second EU Payment Services Directive (PSD2). The same day,...

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To Avoid Failure, BNPL for Business Must Be Customized, Not Cloned
To Avoid Failure, BNPL for Business Must Be Customized, Not Cloned
May 16, 2022  |  BNPL

Buy now, pay later (BNPL) transaction volume is expected to reach $680 billion worldwide by 2025, a clear indication that consumers will continue to embrace...

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Changes in Open Banking, Fraud Key to Boost Digital Payments, Says UK Regulator
Changes in Open Banking, Fraud Key to Boost Digital Payments, Says UK Regulator
May 13, 2022  |  Regulation

The U.K. Payment System Regulator’s (PSR) panel issued recommendations on May 10 to eliminate barriers for consumers and merchants to access digital payments in the...

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Token.io Raises $40M To Drive Push for Account-to-Account Payments
Token.io Raises $40M To Drive Push for Account-to-Account Payments
May 13, 2022  |  Payment Methods

Open banking payments platform Token.io raised $40 million in a Series C funding round that it will use to continue advancing the shift from traditional...

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Yapily Buys finAPI to Boost Share of European Open Banking Market
Yapily Buys finAPI to Boost Share of European Open Banking Market
May 10, 2022  |  Acquisitions

London open banking API startup Yapily has signed an acquisition deal with German private credit bureau SCHUFA to purchase its 75% stake in open banking API firm finAPI, to create...

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