10 February 2016

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UK sets out open banking API framework
Risk & regulation

UK sets out open banking API framework

09 February 2016  | 4 comments | 64 tweets | 61 linkedin

The UK government has thrown its weight behind a report calling for the creation of an open banking standard that makes it easy to share and use financial data, arguing that the move would improve choice for customers, promote competition and stimulate innovation.

Deutsche Bank has become the latest financial services giant to call on its industry to hug the hoard of upstart fintech rivals close, concluding that cooperation, not competition, is the wisest approach in the business-to-business payments arena.

In what it calls the biggest technology overhaul in its 123 year history, National Australia Bank (NAB) will this month begin rolling out a new origination platform for personal banking customers.

The Linux Foundation-led Hyperledger Project has signed up 30 founding members from the technology and financial services sectors, with several donating code to the effort to build a cross-industry open standard for distributed ledgers.

PayPal chief technology officer James Barrese is resigning, with his responsibilities being split between two company insiders.

Markit has acquired syndicated loan technology from JPMorgan in a bid to ease third party connectivity issues for market participants and shorten loan settlement timeframes. Financial terms were not disclosed.

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Visa is to provide bank card issuers with an API to enable customers to set spending controls, receive transaction alerts and temporarily suspend their accounts with an on/off feature.

EBA Clearing has signed a letter of intent with Italian ACH SIA to develop a pan-European real-time payment system by the fourth quarter of 2017.

The ability to transfer funds using just a mobile phone number is growing in popularity in the UK, as national P2P service Paym reports a near-doubling in transaction volumes over the past six months.

Tandem selects Fiserv Agiliti as IT backbone
Retail banking

Tandem selects Fiserv Agiliti as IT backbone

20 hours ago  | 1 comments | 9 tweets | 5 linkedin

UK banking startup Tandem is taking a 'pay-as-you-grow' approach to its technology backbone, selecting Fiserv's on-demand Agiliti platform to provide the core infrastructure for its forthcoming launch.

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