Archive for June 2018
Open Banking: 1 in 3 Australians willing to allow banks to share their data
New research from Unisys Corporation (NYSE: UIS) into Australia’s banking industry reveals that almost a third of Australians are willing to support data sharing in an open banking environment, but only if privacy and security concerns are addressed. The research also found Australian consumers are less willing than those in other Asia Pacific countries to…
Read MoreNorthRow to verify international users for UK Open Banking
NorthRow extends remit to provide verification checks of FinTech and financial organisation users for Open Banking across European Union and globally. NorthRow (a Contego solutions business), the RegTech and compliance specialist, has been chosen by the UK’s Open Banking Implementation Entity (the ‘OBIE’), to verify its users in the European Union and the rest of…
Read MoreMastercard seeks to break down trust barriers in Open Banking
Mastercard has unveiled a suite of services to help banks and fintechs navigate the Open Banking terrain. The programme seeks to address the liability worries of banks sharing their data with third parties and to help startups to better communicate with their banking partners. For banks, Mastercard is building a pan-European directory of verified and…
Read MoreWhite paper: Open Banking
The announcement by the Competitions and Market Authority (CMA), in August to implement Open Banking is set to transform how data is shared and how traditional banking is managed by the bank and the customer. This new regime will give people a much better understanding of the benefits they can receive from their bank through transparent, clear and…
Read MoreReport – Open Banking Potential in Mexico
With the passing of the Law to Regulate Financial Technology Institutions (known as the FinTech Law) on 1 March 2018,1 Mexico became the first country to regulate its FinTech sector. This law lays the groundwork for an open banking standard (OBS) by requiring financial institutions to establish open application programming interfaces (APIs) with the aim…
Read MoreStandard Chartered says it will apply to operate a virtual bank in Hong Kong
Hong Kong and London-listed Standard Chartered plans to apply for a virtual bank licence, making it the first traditional bank seeking a licence locally to operate purely online without physical branches. The Hong Kong Monetary Authority last month announced details on its virtual bank licences and set August 31 as the deadline for the first…
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