Industry news

Taking advantage of the UK’s new Open Banking environment, Barclays has introduced a feature that lets customers view current accounts from several other banks within its mobile app. Customers who have a personal or business current account with Lloyds, Halifax, Bank of Scotland, RBS, NatWest, Nationwide or Santander can now…

Banking is perceived to be a conservative industry, but necessity is now forcing the sector to seriously consider the opportunities presented by artificial intelligence (AI) and automated decision-making. On one level, the United Kingdom’s Competition and Markets Authority’s Open Banking revolution is really forcing banks to rethink how they use…

Open Banking could drive down the cost of advice, participants at a recent roundtable hosted by Bravura Solutions Limited (Bravura) predicted. The attendees, which included senior platform executives, workplace savings providers and financial advisers, believe the use of banking data would not only improve the standard of advice in the…

The Open Banking Implementation Entity (OBIE) is pleased to announce the publication of the Open Banking Standards, version 3. This update builds significantly on the version of the Standards that launched in March 2018, effectively giving account providers who implement them in full, a solution that complies with the EU’s…

As Australia prepares for its new Open Banking standards and the Consumer Data Right, Priviti, the global fintech company, is helping banks get ready to comply with new legislation and empower consumers with greater control over how their personal data is shared. Its extensive experience with global data protection laws…

New-Zealand-based cloud accounting platform Xero has announced the imminent release of an open banking API. The full featured API will allow banks, fintechs, and financial institutions to integrate with the platform with minimal development, the company said. As a result, data can be imported via direct bank feeds, allowing for…

Consumers are set to benefit from an improved user experience under Open Banking, but what is the opportunity for banks and PSPs in the new Open Banking era? Open Banking is without doubt one of the most significant changes in the European banking sector in recent years. Many banks in…

Australia’s New Payments Platform is expecting a surge in transactions as the country’s Big Four banks roll out Osko, an overlay service which enables account-to-account real-time payments via e-mail and mobile phone numbers. Launched in February this year, the NPP board and bank-backed infrastructure body Bpay have been waiting on…

Life insurance technology provider Anorak has partnered with open banking platform Starling to offer its customers life insurance. Starling is one of a number of mobile finance app solutions to have emerged in recent years. The partnership with Anorak will allow Starling customers to connect their account to Anorak’s service…

Turnkey open banking platform provider, Token.io Limited, today announces it is the first Payment Initiation Service Provider (PISP) to conduct an end-to-end payment with public bank APIs for each of the CMA9, a group of the nine largest banks and building societies in Great Britain and Northern Ireland. Reaching this…