Latest Open banking News: Finextra Research

Innovate Finance calls for expanded open banking to help with cost-of-living crisis

Fintech industry body Innovate Finance has called on regulators to extend open banking to support the deployment of budgeting and affordability algorithms as a way to help Brits with the cost-of-living crisis.

03 March 2023

Company update/payments

Dogs Trust launches debit card with fintech Currensea to boost donations

Dogs Trust, one of the UK’s largest animal welfare charities, has launched a debit card in partnership with Currensea, enabling members to make charitable donations each time they spend at home or abroad, helping raise vital funds for the charity to help dogs in need.

02 March 2023

Company update/retail

Budgeting App ‘Buddy’ taps Klarna Kosma for bank transaction monitoring

Buddy, one of the world’s most popular budgeting apps for young people, has partnered with Klarna Kosma, Klarna's financial technology platform for banks, fintechs and innovative retailers, to allow Buddy users to connect their bank to automatically and seamlessly track expenses for greater budgeting accuracy and efficiency.

02 March 2023

Company update/payments

Tazapay introduces open banking payments in UK and EU with Volt

Tazapay, a Singapore-based cross-border payments provider, has partnered with leading global real-time payments gateway Volt to add open banking to its growing stack of payment offerings, as it accelerates its international growth plans across the UK and Europe.

28 February 2023

Company update/retail

Shanghai Commercial Bank chooses Salt Edge for open banking compliance

Shanghai Commercial Bank (“ShaComBank”), an international bank based in Hong Kong offering banking and financial services across the world, including the UK, joined forces with Salt Edge, a pioneer in open banking, to leverage PSD2 possibilities and create a bespoke banking experience for its customers.

27 February 2023

News/retail

NatWest and NAB compare UK and Oz open banking regimes

Australia should consider a purpose-built open banking implementation entity modelled on the UK's OBIE to ensure effective collaboration between the industry and regulators, according to a white paper from NatWest and NAB.

24 February 2023

Company update/payments

Solaris and tell-money partner for open banking

tell.money, the fintech that delivers innovative and rapidly deployable open banking services for banks and other account providers has contracted to integrate its Gateway solution into the Solaris platform.

23 February 2023

News/retail

Ikea investment arm pumps €9 million into DirectID

UK-based credit scoring and risk decisioning platform DirectID has secured a €9 million investment from Ikea venture arm Ingka Investments.

22 February 2023

News/retail

UK open banking users swell to seven million

The number of consumers and SMEs actively using open banking powered services in the UK has reached seven million for the first time.

21 February 2023

Company update/wholesale

Fintellect and Nordigen go to bat for small businesses

Nordigen, an open banking data provider and a GoCardless company, has teamed up with Fintellect, a financial app that helps businesses to manage and forecast their finances.

20 February 2023

News/payments

FCA grants UK e-money license to Payoneer

Cross-border payments firm, Payoneer, has gained its Electronic Money License (EMI) with approval from the Financial Conduct Authority (FCA).

17 February 2023

Company update/retail

Mastercard adds advanced analytics to Open Banking platform

Market uncertainty and increased costs continue to challenge small businesses, and many will rely on extended credit lines and loans to weather the current environment and grow their businesses.

16 February 2023

Company update/retail

Experian appoints Envestnet | Yodlee as open data API provider in Australia

Leading global information services company Experian has today announced the appointment of data aggregation and analytics platform Envestnet | Yodlee as its official Open Data API provider in Australia.

15 February 2023

Company update/identity

Plaid and Okta team on open finance access

Plaid, the data network that powers the tools millions of people rely on to live a healthier financial life, and Okta, Inc. (NASDAQ: OKTA), the leading independent identity provider, today announced a partnership and integration to help thousands of banks and financial institutions adopt OAuth and APIs for exchanging data with third parties.

14 February 2023

News/crypto

UAE to build CBDC and card scheme

The United Arab Emirates is planning to launch a CBDC and domestic card scheme as part of a wide-ranging financial infrastructure transformation programme.

14 February 2023

News/retail

Canadian SMEs keen on open banking

As Canada prepares an open banking regime, the country's small businesses are ready to seize the opportunity, according to a Mastercard survey.

13 February 2023

Company update/retail

Over one third of UK consumers would switch banks for better financial support - Tink

As the cost of living crisis continues, new research from Europe’s leading open banking platform, Tink, paints a stark picture of financial realities in the UK.

09 February 2023

News/regulation

FinTech Australia says ING systems upgrade may breach open banking rules

Fintech Australia and the Financial Data and Technology Association (FDATA) are calling on Australia's competition watchdog to intervene in ING Bank's planned upgrade to an Open Banking-related system.

08 February 2023

Company update/payments

Neonomics takes open banking checkout to Finland

Leading open banking provider, Neonomics, has expanded the launch of their new open banking powered Checkout solution to Finland.

07 February 2023

Company update/retail

UK credit management appIncredible introduces VRP with TrueLayer

TrueLayer, Europe’s leading open banking platform, has today announced a partnership with the UK credit management app Incredible, which will now provide variable recurring payments (VRPs) for its customers.

07 February 2023