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Open Banking regulation, innovation and technology and it's potential to revolutionise the Financial Services Industry.
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The two types of Open Banking providers: here’s what you need to know Since January 2018, Open Banking has been driving dramatic change across the financial world, revolutionising everything from payment solutions and budgeting tools to lending applications and credit evaluations. But what exactly do companies offering Open Banking do? Regulated p...
11 February 2019 /regulation
Anna Milne
Data, cloud, security and networks are going to underpin the success of banking’s strategy in open banking, was the strong message at a recent roundtable event hosted by Finextra, in association with Equinix, in central London. Where is everyone? Banks need to understand what the ecosystem is made up of- where each player sits, how each service or ...
28 January 2019 /retail
Bob Lyddon Consultant at Lyddon Consulting Services
Governments such as the UK have come under renewed pressure to limit or suspend visa systems which have the effect of offering visas, residency or passports to the rich-and-famous, if they “invest” in the country concerned. Recent editions of the British Airways “High Life” magazine have included an insert from St Kitts and Nevis that reads initial...
24 January 2019 /payments /regulation
Make versus Buy - Develop your own API's or simply Buy from a Trusted 3rd Party? Should Bank's also be TPP's? Monetisation BigTech/FinTech - Competitors or Collaborators? PSD2 and GDPR - dichotomy? How do Visa and Mastercard react to PIS? Different adoption rates for AIS and PIS? Wild West without SCA? Liability - Banks or TPP's? PSD3?
08 January 2019
Open banking has swiftly turned from being a buzzword into the means of bringing financial services in the new paradigm. Change is inevitable and corporate culture is a good place to start. For decades, banks and financial institutions have operated by traditional methods culminating in hefty legacy systems, high operating costs, manual procedures ...
12 December 2018
Banks are facing up to the challenges of the digital age. But legacy systems remain a hindrance to innovation. How are banks addressing this challenge to deliver innovation at the speed that customers expect? These issues, and more, are addressed in a whitepaper we commissioned with Finextra: “The Innovation Game: Escaping legacy with new technolo...
11 December 2018 /devops
Hakan Eroglu Advisor at BIS Innovation Hub (all opinions are my own)
In the European Union, PSD2 has created an important initial framework for open banking. API standardization is essential for building a fully-functioning open banking ecosystem – and the Berlin Group’s NextGenPSD2 has emerged as the leader among several PSD2 API standardization initiatives that have been launched. Over the past few months, versio...
05 December 2018
Marten Nelson Co-founder and CEO at M10
In the digital world banks can win by doing more of the same... What is a bank? A place to store money? Yes, but keeping cash under the mattress doesn’t make a bank of your bed. A lender? Sure. But today you can get a line of credit from almost anywhere. A payments facilitator? Absolutely. Yet banks need third-party tech, independent networks, proc...
23 November 2018 /retail
In a number of my previous blogs, I’ve pointed to the importance of platformification, and the need for banks to explore new revenue models for Open Banking. In this blog, I’d like to explore the topic again, this time taking a look at some of the Open Banking models out there today. As with every business, each bank has its own unique goals, prod...
20 November 2018
Lu Zurawski founder, iKnowMe at Lu Zurawski
“The more things change, the more they stay the same.” The wisdom in this old adage appears to ring true when applied to the early phases of the evolution of Open Banking (or open payments). Especially when you contrast it with the early days of ATM withdrawals; particularly those made in the dead of night so you could pay cash for your after-par
13 November 2018 /payments
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