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.

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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CFPB Faces Fraud, Privacy Concerns in Open Banking Rules
CFPB Faces Fraud, Privacy Concerns in Open Banking Rules
May 10, 2022  |  CFPB

On April 26 and 27, during his testimonies at the Senate and the House, Rohit Chopra, Director of the Consumer Financial Protection Bureau (CFPB) offered...

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Everyware Teams With MX to Offer Pay By Text for Real-Time Payments and Open Banking
Everyware Teams With MX to Offer Pay By Text for Real-Time Payments and Open Banking
May 03, 2022  |  Payment Methods

Contactless payments firm Everyware on Tuesday (May 3) expanded its Pay By Text options to include real-time payments and open banking, along with enhanced security...

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Tink Expands Open Banking Services Across Europe
Tink Expands Open Banking Services Across Europe
April 28, 2022  |  Banking

European open banking platform Tink is taking its Payment Initiation Services (PIS) product to five new markets — the Netherlands, Norway, Estonia, Finland and Latvia, per a blog post...

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CFPB’s Chopra Tells Senators to Expect More on Big Tech, Repeat Offenders and Open Banking
CFPB’s Chopra Tells Senators to Expect More on Big Tech, Repeat Offenders and Open Banking
April 27, 2022  |  CFPB

The testimony of Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB), before the Senate Banking Committee on April 26 offered important insights into...

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