Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

CFPB takes aim at Apple over NFC chip access

The Consumer Financial Protection Bureau (CFPB) has fired a shot across Apple's bows over the tech giant's policy of restricting access to the NFC chip technology that enables iPhone users to make payments.

08 September 2023

News/payments

BNY Mellon launches open banking payments service

BNY Mellon has teamed up with Trustly to launch an open banking-based service that makes it practical for organisations to support consumer payments directly from bank accounts.

08 September 2023

News/payments

UK sees record month for open banking payments

Brits made 11.4 million open banking payments in July, a nine percent rise on the previous month.

31 August 2023

News/payments

Trustly acquires SlimPay

Swedish open banking and payments firm Trustly has acquired A2A-based recurrring payments platform SlimPay in a deal believed to be worth €70 million.

29 August 2023

News/payments

Indonesia and Singapore set to introduce QR code payments

The central banks of Singapore and Indonesia are planning to introduce the use of QR codes for cross-border payments between the two countries.

17 August 2023

News/payments

UK Government to explore the use of open banking payments

The UK Government is to explore the use of open banking driven digital payments for public services.

09 August 2023

News/regulation

Fed extends remit to cover 'novel' technology-driven risks

The US Federal Reserve is setting up a new supervisory unit to cover 'complex' technology partnerships between banks and non-banks, crypto activities, and the implementation of blockchain technologies.

09 August 2023

News/retail

Klarna ditches open banking brand

Buy now, pay later giant Klarna has killed off its open banking brand Klarna Kosma a little over a year after launch, although the business will continue to operate as before.

31 July 2023

News/payments

FedNow will be a ‘large accelerant’ for fintech - Plaid CEO

FedNow, the Federal Reserve’s new payments system that was launched last week, is predicted to bolster growth for the US fintech sector according to Plaid CEO Zach Perret.

28 July 2023

News/payments

CFIT launches ‘Open Finance Coalition’ and unveils founding members

The Centre for Finance, Innovation and Technology (CFIT) today unveils the founding members of its ‘Open Finance Coalition’ who will collaborate to show the power of financial data for better SME and consumer outcomes.

13 July 2023

News/retail

NatWest calls for step change in industry approach to open banking

A report commissioned by NatWest concludes that banks, fintechs and regulators need to work together to resolve key economic obstacles that are holding back wider adoption of open banking in the UK.

04 July 2023

News/payments

Canadians unfamiliar with open banking

As Canada works towards the creation of an open banking framework, a new survey suggests that boosting awareness needs to be top of the agenda for a public largely oblivious to the concept.

30 June 2023

News/payments

EC publishes PSD3 proposals

The European Commission (EC) has issued its proposals for the reform of the EU’s payments market.

28 June 2023

News/payments

Open payments firm Volt raises $60m

London-based open payments gateway Volt is targeting Asia Pacific and the Americas after securing $60 million in a Series B funding round led by IVP.

22 June 2023

News/crypto

EBAday: CBDC is coming to Europe, but are we ready for it?

In the final session of the evening in breakout room 2 for EBAday day one, ‘What is the outlook for CBDCs in Europe?’, a panel of experts discussed where CBDCs are heading in Europe and what possibilities could arise for banks, merchants, and consumers in the future.

21 June 2023

News/regulation

Saudi Arabia welcomes open banking

Bank Abilad has become the first financial institution in Saudi Arabia to offer open banking services

16 June 2023

News/regulation

CFPB warns big firms on efforts to control open banking standards

As it prepares to introduce a personal data rights rule, the Consumer Financial Protection Bureau has warned that it will not allow big banks to skew open banking standards in their favour.

16 June 2023

News/people

GoCardless to cut 17% of staff

UK payments unicorn GoCardless is to cut 17% of staff in a bid to shave 15% off its cost base and rediscover its scrappy startup energy

13 June 2023

News/payments

Open banking payments startup Atoa raises $6.5m

Atoa Payments, a UK startup using open banking to offer merchants an alternative to debit card payments, has raised $6.5 million in seed funding round led by Peter Thiel-backed Valar Ventures.

12 June 2023

News/devops

Money20/20: Quantum and generative AI together is ‘scary’ - ING

At Money20/20 in Amsterdam, Finextra chatted to ING’s head of corporate strategy & innovation Jeroen Plag about how the bank has merged the innovation and strategy departments bringing initiatives closer to the business like CoorpID and Blacksmith and is now focusing on building new assets.

07 June 2023