Latest Open banking News: Finextra Research

Klarna launches open banking 'autopilot'

Klarna's open banking unit, Klarna Kosma, has unveiled an initiative to help startups develop Proofs of Concepts in the e-commerce, data analytics and fintech space.

17 November 2022

News/people

Former TrueLayer ANZ CEO launches open finance consultancy

Brenton Charnley, the former CEO of TrueLayer's Australian and New Zealand operation, has resurfaced with a consultancy startup to help businesses take advantage of open finance.

15 November 2022

News/regulation

New Zealand Government kickstarts open banking

The New Zealand Government has instructed banks to begin sharing data with competitors under a new open banking framework.

11 November 2022

News/retail

Bank monetisation of APIs represents "billions-per-year" opportunity

Rather than viewing the development of APIs as a regulatory cost burden, banks should strive to realise the considerable monetisation opportunites afforded by the trend, according to a new report from the Mobey Forum's Open Banking Expert Group.

11 November 2022

News/payments

JP Morgan and Mastercard unveil Pay-by-Bank service

JP Morgan is teaming up with Mastercard on a service that uses open banking to let customers make payments using their bank account information instead of a card.

10 November 2022

News/people

CMA begins search for new chair of Open Banking entity as Crosswell steps down

Charlotte Crosswell is to step down from her role as chair and trustee of the UK's Open Banking Implementation Entity, kickstarting a reruitment process for a fresh face at the helm as the organisation transitions to a new entity, Open Banking Limited.

08 November 2022

News/retail

Saudi Arabia unveils open banking framework

Saudi Arabia's central bank has published an open banking framework, setting out legislation, regulatory guidelines and technical standards.

07 November 2022

News/startups

Ethical lender Plend raises £40m

Plend, a UK "ethical lender" that is ditching the traditional credit system and is instead using open banking data for lending decisions, has raised £40 million in seed funding.

02 November 2022

News/devops

APImetrics, tomato pay, Finextra report finds neobank API call quality outperforms traditional banks

APImetrics, Finextra and tomato pay have released a report capturing the performance of UK open banking providers over the period July 2021 to July 2022, analysing over 17 million functional API calls.

26 October 2022

News/regulation

Money20/20 US: CFPB to finalise US open banking rule by 2024

Director of the US Consumer Financial Protection Bureau (CFPB), Rohit Chopra, took to the Money20/20 stage to outline the Bureau’s strategy toward determining regulation of open banking in the US.

25 October 2022

News/wholesale

Klarna's open banking unit boosts SME lending for Krea

Klarna Kosma, the open banking arm of BNPL giant Klarna, has helped Swedish SMEs receive on average 15% larger loan offers, at a 4% lower interest rate, through a tie-up with Swedish digital lending platform Krea.

25 October 2022

News/retail

Legal & General and Lloyds Banking Group lead £35 million investment in Moneyhub

UK open finance and data platform Moneyhub has secured an initial £35m in funding from high profile backers Legal & General and Lloyds Banking Group, with an additional £5m debt facility provided by Shawbrook.

24 October 2022

News/payments

Natwest forges VRP partnerships with Token, Tink and Yapily

NatWest is opening up more opportunities for variable recurring payments by forging agreements with fintechs Token, Tink and Yapily, in adition to existing arangements with TrueLayer, GoCardless and Crezco.

24 October 2022

News/payments

Open banking and request to pay fintech Ordo raises £10m

UK open banking and request to pay fintech Ordo has raised £10 million in a Series A funding round led by Equinox Systems.

19 October 2022

News/devops

Sibos 2022: Open banking in the UK - it’s high time for a review

In the lead up to Sibos 2022, Finextra spoke to Dan Globerson, head of Bank of APIs at NatWest, to explore how he is leading the bank’s regulatory commitments in the UK and Europe, driving a culture of API enablement, and collaborating across the industry by establishing standards.

11 October 2022

News/payments

Adyen partners Tink for open banking payments

Dutch fintech giant Adyen is embedding technology from Tink to enable its customers to offer open banking payments.

05 October 2022

News/regulation

FCA’s amendment to the 90 day PSD2 rule comes into effect

The update will further streamline users’ ability to confirm data access for open banking services.

30 September 2022

News/retail

HSBC teams with Oracle NetSuite for embedded banking services

HSBC has integrated embedded banking services into NetSuite Accounts Payable Automation, a cloud enterprise resource planning (ERP) platform.

28 September 2022

News/startups

Open banking app Sync. goes into administration

Sync., the UK open banking app founded by a former Revolut executive, has gone into administration.

28 September 2022

News/regulation

Afme calls for level playing field in data sharing

As the European Commission prepares to share its framework for data access in financial services, a paper from Afme is stressing the need for a level playing field if data is to be shared across sectors.

27 September 2022