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Open Banking regulation, innovation and technology and it's potential to revolutionise the Financial Services Industry.
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Across the UK and Europe, property technology (PropTech) is rapidly gaining momentum, enhancing the way properties are bought, sold, rented, and managed. Yet, there's an untapped potential in these markets – a chance to harness more efficient payment processes, secure and accurate data handling, and optimised operational methodologies. Unravelling...
30 January 2024 /payments /inclusion
Helen Child Founder at Open Banking Excellence
Open Banking celebrated six years young on the 15th of January, making this the perfect time to give the industry a JROC (Joint Regulatory Oversight Committee) update. As we look ahead in Open Banking, JROC has been our guiding North Star. The JROC committee, having commenced their ambitious work in June 2023, has already proven essential in helpi...
29 January 2024 /payments /regulation
Megan Harrison Head of Marketing at Vyne
Open Banking is shaking up the fintech and payments world, no doubt you've heard of it. It's a framework that enables banks and financial institutions to securley share financial data with other regulated providers in order to create more personalised services and value for consumers and businesses alike. With Open Banking payments, businesses ar...
10 January 2024 /payments
Jeremy Light Co-founder at Fourdotzero
A year ago, I believed UK Open Banking payments were on a roll. Total payment initiations for 2022 were 68 million payments, an increase of 171% over 2021, showing a strong foundation for Open Banking. At this rate, I believed 1bn payments a year could be reached in 2025, a level where Open Banking would be firmly established in the UK payments la...
09 January 2024 /payments /predictions
Raktim Singh Senior Industry Principal at Infosys
In the contemporary digital landscape, Open Banking represents a paradigm shift in managing financial transactions. It helps create an environment where financial institutions can securely share the data with other stakeholders with the customer’s consent. This is done through API ( Application Programming Interface), which helps in data sharing b...
27 December 2023 /retail /wholesale
Darya Lyhach PR manager at Noda
In a world where financial empowerment and convenience are very important, open banking emerges as a beacon of innovation, guiding a more insightful and user-friendly approach to personal finance management (PFM). What Is Open Banking? Open banking is an ecosystem where traditional banks and financial institutions open their data for secure acces
13 December 2023
Open banking infrastructure is a game changer for merchants, banks and consumers alike, significantly reducing costs, driving higher payment conversion, providing more security and providing instant settlement. At first glance, adoption of the new tech is strong, with the Open Banking Limited institute recording a 68.2% annual increase in usage t...
04 December 2023 /payments /predictions
Erica Virlan Vice President at Salt Edge
In the world of auditing, professionals are no strangers to an array of difficult challenges that can sometimes significantly impact their efficiency and accuracy. The journey begins with a limited view of a client's entire financial transaction history, frequently resulting in a laborious process of obtaining further transaction details at a spee...
30 November 2023 /regulation
The PSD2 was a truly historic piece of legislation that laid the foundations for a paradigm shift in financial services. The blockbuster Payment Services Directive 2 planted the seeds for Europe’s thriving Open Banking ecosystem. Now we’re awaiting a sequel. When the PSD3 comes into force at some point in the next five years, it will unlock vast n...
24 November 2023 /payments /regulation
Ben Rattue Manager - Product Partnerships & Propositions at Token.io
Variable Recurring Payments (VRPs), or Dynamic Recurring Payments (DRPs) as they’re commonly known in continental Europe, represent a promising payments innovation and are poised to deliver significant benefits to both merchants and consumers, potentially unlocking several killer use cases for open banking-enabled payments. This article explores t...
13 November 2023 /payments /retail
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