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.

Apple Acquires Credit Kudos, UK Data Tool for Lenders

Apple Acquires Credit Kudos, UK Data Tool for Lenders
Apple Acquires Credit Kudos, UK Data Tool for Lenders
March 23, 2022  |  Banking

Apple has bought the U.K. open banking startup Credit Kudos, for about $150 million a report said Wednesday (March 23). Get the Full Story Complete...

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UK Payment Regulator Says Card Payments, Open Banking, Big Tech on 2022 Agenda
UK Payment Regulator Says Card Payments, Open Banking, Big Tech on 2022 Agenda
March 23, 2022  |  Legal & Regulation

The U.K. Payment System Regulator (PSR) is a fundamental piece of the regulatory payment landscape in the U.K. It has powers to set standards, impose...

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CMA Warns Barclays, Lloyds to Comply With Open Banking Order
CMA Warns Barclays, Lloyds to Comply With Open Banking Order
March 22, 2022  |  Bank Regulation

The U.K. Competition and Markets Authority (CMA) on March 21 sent two letters to Barclays and Lloyds to communicate the regulator’s concerns about breaching their...

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UK Regulator Orders Barclays to Correct Breaches
UK Regulator Orders Barclays to Correct Breaches
March 21, 2022  |  Bank Regulation

The United Kingdom’s banking regulator has ruled that Barclays Bank UK Plc has failed to make available accurate, comprehensive and timely information on its products...

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UK’s CMA Clarifies Variable Recurring Payments to Foster Open Banking
UK’s CMA Clarifies Variable Recurring Payments to Foster Open Banking
March 15, 2022  |  Bank Regulation

In July 2021, the U.K. Competition and Markets Authority (CMA) mandated the use of variable recurring payments (VRPs) as a mechanism to allow the automatic...

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From Open Banking to Open Finance: The Scottish Roadmap 
From Open Banking to Open Finance: The Scottish Roadmap 
March 14, 2022  |  Banking

Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....

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EU Data Strategy May Facilitate Open Finance in Europe
EU Data Strategy May Facilitate Open Finance in Europe
March 11, 2022  |  Legal & Regulation

Since 2016, the European Commission has been designing a data strategy that aims to facilitate companies’ access to vast amounts of data they couldn’t access...

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CFPB Could Find NIST an Ally for Open Banking
CFPB Could Find NIST an Ally for Open Banking
March 10, 2022  |  CFPB

The National Institute of Standards and Technology (NIST), a non-regulatory agency of the U.S. Department of Commerce, on March 3 closed a public consultation on...

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