Latest Open banking News: Finextra Research

FCA flags regulatory gaps and IT outages as key areas of focus

In its annual Sector Views report, the UK's Financial Conduct Authority warns of the growing risks to consumers in the retail banking and payments sector, as regulatory protection struggles to keep pace with technology-driven innovation and incumbents grapple with legacy limitations.

19 February 2020

News/inclusion

JP Morgan acts as a Catalyst for financial inclusion

Finextra interviews Boston-based accelerator Catalyst Fund about JPMorgan's recent investment in its goal to boost financial inclusion across emerging markets.

17 February 2020

News/Open banking

JPMorgan Chase gives fintechs data access deal deadline

JPMorgan Chase has sent fintechs a letter warning that they will be cut off from retrieving customer information unless they sign up to a new data access agreement, according to Reuters.

14 February 2020

News/Open banking

Revolut rolls out Open Banking tool

Revolut has launched an Open Banking feature, giving UK customers the ability to see their bank accounts from other providers from within the challenger's app.

11 February 2020

News/startups

How analytics can help expand market share and generate revenue

Fintech players have captured the marketplace with efficient customer experience and proven that mass-market growth is achievable, without branches and with mobile-based applications. What sets new financial entrants apart is that they are adaptable and can provide customers with financial advice in a way that suits them.

31 January 2020

News/Open banking

Standard Chartered enters partnership with Bahrain Fintech Bay

Standard Chartered has formed an alliance with Bahrain Fintech Bay to keep tabs on innovative startups operating in the Greater Middle East.

27 January 2020

News/regulation

Regulators are focusing on data privacy and identity: What should banks do next?

California’s pioneering Consumer Protection and Privacy Act (CCPA), the first comprehensive consumer privacy law passed in the United States, went into force on January 1, 2020 but some of the law’s implications are already emerging.

23 January 2020

News/startups

How to build defences to accelerate innovation and generate revenue

The total value of global fintech deals in the first six months of 2019 was $22 billion. While this figure may seem staggering, when compared to $31.2 billion in the same period the year before, this is a steep decline of 29%.

14 January 2020

News/Open banking

Charity uses open banking to speed up debt advice

A Scottish money advice charity is piloting the use of open banking technology from Experian to quickly gather a picture of its users' financial positions.

14 January 2020

News/Open banking

Open Banking year two: Insights from the CMA9

The financial services industry was forced to endure a steep learning curve with the launch of Open Banking in 2018, but what followed the one-year anniversary of the UK’s experiment? Here’s a review of Open Banking’s second year. What worked? What didn’t? And what’s next?

13 January 2020

News/Open banking

Swift Operations Forum Europe 2019, Amsterdam - Day 2 report

With the accelerating pace of transformation in financial services, day two of SOFE 2019 explored the direction of travel financial institutions should embark on in order to thrive in this new world.

29 November 2019

News/Open banking

Swift Operations Forum Europe 2019, Amsterdam - Day 1 report

Financial services innovation and how industry participants can keep up with ecosystem culture were two of the key themes on day 1 of the Swift Operations Forum Europe (SOFE) 2019.

28 November 2019

News/payments

P27 Momentum: Key milestones for stakeholders in 2020 and beyond

Henry Ohlsson, deputy governor, Riksbank kept Nordic payments professionals entertained during NextGen Nordics: P27 Momentum during his session on the role of the central bank in a changing environment.

26 November 2019

News/payments

P27 Momentum: Challenges for creating a pan-Nordic payment region

While banks, businesses and customers operate across the Nordics, infrastructure remains national. At NextGen Nordics: P27 Momentum, executive advisor at Nordea Johanna Lybeck-Lilja continues discussion on the pan-Nordic clearing system to be launched in early 2021 and reiterates that while the region has a long history of cooperation, the cross-border challenge has not been solved.

26 November 2019

News/payments

P27 Momentum: Collaboration is crucial for cross-border payments

Driving community discussion on P27, payments professionals from across the Nordic region are gathering in Stockholm for NextGen Nordics: P27 Momentum to reflect on how this project will deliver a pan-Nordic clearing platform to settle domestic and cross-border multiple currencies.

26 November 2019

News/regulation

Trust in Open Banking: Negotiating data liability between banks and TPPs

The breadth and complexity of Open Banking systems involve a web of players interconnected by the core need to access data. Used as the tool by which financial institutions and third parties deliver innovative financial products, the data required is highly personal by nature and brings with it a myriad of challenges on the part of institutions trying to capitalise its on value without taking on too much risk.

22 November 2019

News/Open banking

Plum raises another $3m and launches on Android

Closing a second round of funding with a $3 million investment, AI powered smart savings app Plum now boasts a total lifetime investment of $9.3 million.

13 November 2019

News/Open banking

Will trust woes undermine Open Banking under PSD2?

In a roundtable discussion held Wednesday in London hosted by digital payments firm PPRO, industry leaders met to explore the impact PSD2 has imposed on key players in Open Banking and the changes needed to achieve the regulation’s objective in 2020 and beyond.

06 November 2019