Open Banking

Open Banking regulation, innovation and technology and it's potential to revolutionise the Financial Services Industry.

Lisa Fretwell Managing Director of Data Services at Experian

Data holds the key for lenders to say 'yes' to home buyers

When Chancellor Rishi Sunak stood up in parliament to increase the stamp duty threshold to £500,000 until March next year, he intended to wake the UK’s property market from its slumber. The Covid-19 pandemic put any plans people had for moving on hold. In the middle of April, our data shows mortgage applications dropped to a fifth of the levels rec...

30 July 2020 /retail /covid-19

Retired Member 

Building on data trust to drive competitive advantage

As the world begins to slowly emerge from the COVID-19 lockdown, banks that have temporarily closed their retail premises and offices, pushing the majority of customers online, continue to reassess their digital transformation programmes – most of which were primarily centred on self-service, rather than replacing face-to-face delivery processes. ...

14 July 2020 /retail

Adam Bialy Chief Product Officer at OpenPayd

Where are we with Open Banking?

COVID-19 has accelerated digital transformation across the financial services industry in a way that it was not wholly prepared for. It has placed fintechs much further ahead in the race to adapt and deliver new business models and revenue streams, especially for those who have already leveraged the potential of Open Banking. But while traditional...

09 July 2020 /regulation /retail

Joris Lochy Product Manager at Intix | Co-founder at Capilever

Marketplaces in the financial industry - Here to stay?

Marketplaces are hip and trendy on the internet and will likely evolve even more in the near future. In some markets (like food delivery, transportation, commerce, holiday…​) they already represent double digit market shares (e.g. in 2018 $1.86 trillion was spent globally on the top 100 online marketplaces), but for the financial services sector, ...

30 June 2020 /devops /markets

Retired Member 

Building a PSD2 compliant channel: challenges and opportunities for financial institutions

PSD2 obliges ASPSPs including banks, e-wallets, prepaid cards and other companies that offer payment accounts to provide at least one channel for secure communication with third party providers (TPP). Even neobanks or e-money institutions, including their agents, have to provide such channels with sandbox environments published 6 months before goi...

30 June 2020 /payments /regulation

Adedeji Olowe Trustee at Open Banking Nigeria

TrueLayer joins Open Banking Nigeria, to drive acceptance of API driven finance in Africa

TrueLayer, the leading provider of financial APIs, has joined Open Banking Nigeria, the industry-formed advocacy group driving the adoption of open banking in Nigeria, to develop the open Application Programming Interfaces (API) standards for the Nigerian financial industry. This partnership, which would be with active participation of other indus...

22 June 2020 /payments /inclusion

Retired Member 

Creating data trust as the basis of open banking innovation

Richard Price, UK&I Sales Director, TIBCO Software More than ever before, banks need to stay relevant, as traditional financial services companies are competing with far nimbler challenger brands that are changing traditional service models and product mixes. We’ve seen this accelerate, as the world continues to be turned upside down by COVID-1...

05 June 2020 /regulation /markets

Retired Member 

3 reasons why lending companies should use open banking

The financial environment is changing significantly in Europe and beyond, putting pressure on the lending market. Current conditions raise demand for instant credit products which forces lenders to go digital. Lenders are faced with a serious challenge to ensure business continuity. They need to create a mechanism that allows the assessment of bor...

22 April 2020 /inclusion /covid-19

Hakan Eroglu Advisor at BIS Innovation Hub (all opinions are my own)

The NEW NORMAL in banking and payments has come to stay

Open Banking as an accelerator for digital transformation in times of change The current ongoing pandemic caused by the novel Coronavirus Covid-19 is having a global economic impact – without any doubt. We see the wellbeing of millions being impacted and the health systems reaching its limit. Governments are intervening with drastic measures to res...

20 April 2020 /payments /covid-19

Retired Member 

How to help your customers eliminate the go to the bank from their to-do list

When most people think about the term “Bank” they probably envision a retail branch with long queues, behind a rope waiting to seek the services of a teller or branch representative. Well those days are becoming more and more obsolete, as Gen Y and Millennials are seeking convenient, innovative, digital means of banking. Banks need to elevate the...

31 March 2020 /payments