Aggregation technology

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UBS introduces multibanking service for Swiss SMEs

/payments

UBS introduces multibanking service for Swiss SMEs

UBS is rolling out a multibanking function that lets its SME clients in Switzerland make payments from their accounts with other providers from within the Swiss giant's E-Banking service.

Open Banking year three: Insights from the CMA9

/devops

Open Banking year three: Insights from the CMA9

The UK banking industry had its hands full in 2020 as institutions had to respond to lockdowns and other restrictions on business activity designed to curb the spread of Covid-19. What effect did this have on the ongoing adoption of Open Banking? In Finextra’s annual review, we look at how Open Banking has grown, what still needs to improve and what will happen next.

EBAday 2020: Banks, fintechs or card networks, what will be disintermediated after cloud adoption?

/cloud

EBAday 2020: Banks, fintechs or card networks, what will be disintermediated after cloud adoption?

While day one discussions centred around how open banking needs to reach a point where it is just accepted as a conventional way that consumers, corporates and banks can manage their accounts and make payments, panel sessions on the second day of EBAday 2020 focused on how the cloud and Payments as a Service (PaaS) can also act as an enabler for open banking, potentially cutting out rails that are currently acting as intermediaries.

Driving decisions through cloud migration and data governance

/cloud

Driving decisions through cloud migration and data governance

In today’s environment, data is produced and consumed at a rapid pace. However, the way it is currently being stored, accessed, and processed is inefficient.

How the cloud adds value to open banking business models and strategy

/cloud

How the cloud adds value to open banking business models and strategy

While open banking was initially regarded by many as a typical compliance exercise, following the implementation of the Second Payments Services Directive (PSD2), banks are now shifting gears and going beyond the regulatory requirements by leveraging the benefits of open APIs to cater to customer needs and innovate open banking business models.

Personalisation and customisation with data in the banking and payments industry

/cloud

Personalisation and customisation with data in the banking and payments industry

As customers increasingly experience more consistent, personalised treatment from companies across a wide variety of industries, it is natural for them to expect—and require—the same of financial services providers.

Yolt revamps app with new account and contactless card

/retail

Yolt revamps app with new account and contactless card

ING-backed account aggregation app Yolt has launched a new account and contactless card to help people save while they spend.

Sibos 2020: Defining sustainable finance and ESG, beyond climate action and the environment

/sustainable

Sibos 2020: Defining sustainable finance and ESG, beyond climate action and the environment

As wildfires, hurricanes, social and economic unrest and the pandemic play out across the global stage, the final of day of Sibos 2020 focuses on banking for humanity, the impact of ESG and the triple bottom line as a driver for sustainable business.

Sibos 2020: Big Tech companies are not looking to get into financial services – Jesse McWaters

/retail

Sibos 2020: Big Tech companies are not looking to get into financial services – Jesse McWaters

Jesse McWaters, Mastercard’s vice president of global digital public policy, believes the way people think about Big Tech companies entering financial services are mistaken.

The fintech barbarians are no longer at the gate - they’ve been invited inside

/wholesale

The fintech barbarians are no longer at the gate - they’ve been invited inside

The paradigm of challengers and incumbents should be revisited in the light of widespread collaboration between the two, according to Tony McLaughlin of Citi and Mike Massaro, CEO of Flywire.

UN Secretary-General: Digital finance is the optimal channel to deliver long-term financing of SDGs

/sustainable

UN Secretary-General: Digital finance is the optimal channel to deliver long-term financing of SDGs

The UN Secretary-General’s Task Force on Digital Finance has today launched an Action Agenda that justifies how harnessing digitalisation can empower citizens to be in control of their finances. This will in turn ultimately align with the needs collectively manifested in the Sustainable Development Goals (SDGs).

Alipay Ant Forest, the catalyst for enabling citizen action towards carbon reduction

/sustainable

Alipay Ant Forest, the catalyst for enabling citizen action towards carbon reduction

According to the Green Digital Finance Alliance (GDFA), by introducing nudging and incentives on digital platforms, there is potential for substantial behavioural change among digitally-savvy consumers. This can act as a springboard for scalable global climate change mitigation and reduce 8.6% of emissions from public transport.

Citi and Wells Fargo invest in digital ID firm Socure

/identity

Citi and Wells Fargo invest in digital ID firm Socure

Citi and Wells Fargo have joined a $35 million funding round for machine learning-based digital identity verification firm Socure.

Swedish startup Open Payments raises €3 million

/startups

Swedish startup Open Payments raises €3 million

Swedish fintech Open Payments has raised €3 million in seed funding backed by Nordic VC Industrifonden.

Coordinating ESG solution ideation for investment and asset management

/sustainable

Coordinating ESG solution ideation for investment and asset management

In June 2020, Finextra Research welcomed industry experts to Sustainable Finance Live, the first virtual interactive workshop to discuss how financial services firms and technology companies can achieve the UN’s Sustainable Development Goals (SDGs) by 2030.

Monzo to charge users for account aggregation features

/retail

Monzo to charge users for account aggregation features

Monzo is to charge account holders £5 a month to get hold of account aggregation features in its mobile app, a service which other banks serve up as part and parcel of their digital offerings.

Deutsche Bank spinoff IMP+ACT Alliance launches digital ESG fund transparency tool

/sustainable

Deutsche Bank spinoff IMP+ACT Alliance launches digital ESG fund transparency tool

IMP+ACT Alliance today launched the IMP+ACT Classification System (ICS), which will allow asset managers to self-report how they classify, measure and manage ESG impact, serving financial risk mitigation strategies and advancing global goals such as the UN’s Sustainable Development Goals (SDGs).

Revolut launches account aggregation feature in Ireland

/retail

Revolut launches account aggregation feature in Ireland

Revolut has launched its Open Banking feature in Ireland, providing customers with aggregated account data from AIB, Permanent TSB, Ulster Bank, and Bank of Ireland.

ING spin out Cobase welcomes Nordea and Crédit Agricole CIB as new shareholders

/payments

ING spin out Cobase welcomes Nordea and Crédit Agricole CIB as new shareholders

ING spin-out Cobase, a provider of multi-bank treasury management services, has raised €10 million in funding from Nordea and Crédit Agricole CIB.

BBVA ships tool to help companies calculate their carbon footprint

/sustainable

BBVA ships tool to help companies calculate their carbon footprint

BBVA has released a new tool which scans client's aggregated transaction data to determine the amount of greenhouse gases they emit into the atmosphere with their daily activities.

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