Industry news

Nationwide Building Society is injecting £3 million in funding to encourage fintech startups and academics to develop Open Banking apps that can help to improve the lives of the one in four UK households who are financially squeezed – equivalent to 12.7 million people. Pre-announced in July, the Government-sponsored Open…

Open Banking Expo has confirmed a full complement of speakers for its one-day conference and exhibition, with more than 35 thought leaders, three streams and 15+ hours of original content. The event, headlined by OpenWrks, takes place on 27 November at America Square Conference Centre, London and promises to be the…

According to the latest Mortgage Efficiency Survey from financial technology business IRESS, APIs in particular are expected to provide the most transformative efficiency gains over the next three to five years. By enabling third party services, such as online income verification and electronic valuations, linking directly into lenders’ mortgage platforms,…

Brokers will be one of the many beneficiaries of the comprehensive credit reporting and open banking regimes, according to mortgage industry executives. Stephen Moore, CEO of Choice, believes brokers will significantly benefit from the mandatory comprehensive credit reporting (CCR) regime — which is yet to be legislated despite the government imposing a deadline…

Challenger bank Starling Bank is now offering on demand insurance for your smartphone. According to Starling, users may purchase insurance from so-sure via the Starling app marketplace. Insurtech so-sure is said to offer fast, reliable and simple mobile phone insurance in a market that is often seen as opaque. so-sure…

While banks and challengers fight over the new opportunities in Open Banking, credit reference agencies are having their own tussle to better understand the consumer…   Since obtaining their FCA accreditations to supply Open Banking and PSD2 services, Experian and Equifax have been spending big on research and development. Both…

The Paypers has launched Open Banking Report 2018, which focuses on topics such as building trust, gaining consent and improving customer experience in Open Banking. The Paypers is committed to delivering clear perspectives on the Open Banking ecosystem to help all players understand the opportunities it offers, also providing an analysis…

Even though it’s early days for open banking there are already plenty of trailblazers offering new services, writes Huw Davies. From forex to rental accommodation, personal identification to loyalty schemes, many customer experiences are starting to be transformed by the effects of Europe’s Second Payment Services Directive (PSD2) just months…

The UK’s vote to leave the EU not only raised many doubts about London’s continued reign as the global fintech leader, but also certain concerns about the country’s continued regulatory alignment. However, as the main driver for PSD2 is technological and not political, the UK decision to follow a development…

Qatar Islamic Bank UK plc (QIB) has selected Volante Technologies’ VolPay Channel: Open Banking and Token to implement PSD2 compliance for the bank. Building upon Volante’s partnership with Token who provide PSD2 compliant APIs, VolPay Channel: Open Banking will deliver a complete out-of-the-box solution for handling complex orchestration related to…