Archive for October 2018

Following the UK banks’ ambitious move towards open banking, fintech hubs across the globe have been following suit, leading to a banking revolution that could fast-track the development of fintech—particularly fintech based on personal wealth and spending habits. With Singapore’s authorities taking keen note of this trend, it is no wonder that Finastra named Singapore…

Equifax, the consumer and business insights expert, announces the latest development in its partnership with consents.online, integrating Equifax Bank Account Verifier into the Open Banking journey. The new solution means identity information such as the consumer’s name, address and date of birth, can for the first time be matched with transaction data provided through Open…

As a bank that has built its entire reputation on customer service, First Direct is taking a different view to some of its competitors when it comes to Open Banking. Commercial Director Nick Harrison explains the strategy to Open Banking Expo…   Q:         What does First Direct consider to be the opportunities from Open…

A report from the House of Commons Treasury Committee released today explained how hopes were still high for Open Banking adoption within the SME finance space, but urges more ambition.   Open Banking has the potential to bring significant benefits for SMEs seeking finance. Its impact on the market to date, however, has been muted.…

Virtusa Corporation (NASDAQ GS:VRTU), a global provider of digital strategy, digital engineering, and IT outsourcing services, that accelerates business outcomes for its clients, today announced its collaboration with the Banking Industry Architecture Network (BIAN) to launch BIANs API Exchange. BIANs API Exchange, developed collaboratively by a group including Virtusa, BIAN member banks, and IT businesses, is…

Spanish banking group BBVA has announced it is to partner with a fintech investor to find and fund start-up businesses in the UK. The new partnership with Anthemis Group will see the bank deploy capital and resources to building businesses that “address untapped user needs and attract the best fintech entrepreneurs”, it said in a…

IBM is looking to cash on the open banking era, launching a platform designed to bridge the gap between legacy systems and the API future while helping banks meet new regulatory requirements such as PSD2. Open Banking has emerged as one of the hottest areas in financial services, driven by new rules in Europe and…

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced a newly expanded agreement with The Co-operative Bank to provide more flexibility for customers to choose how they conduct their everyday banking in relation to the European Union’s Second Payment Services Directive (PSD2). The bank will implement FinKit™ for Open…

Paul Riseborough, chief commercial officer at Metro Bank, believes the biggest beneficiaries from Open Banking will not be consumers, but underserved SMEs. Starting in the nineties the advent of the worldwide web unleashed a revolution that would re-shape nearly every industry in just a couple of decades. Suddenly, going digital – and quickly – was…

Experian have released their latest white paper right here at the Open Banking Expo in the build-up to the event next month. It’s well understood that more data brings more opportunity. But to realise that potential, you need to be able to extract the relevant insight. Before data can be used, it needs to be interpreted and understood. That’s where…