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

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

Company update/regulation

Open Finance platform Fintech Galaxy scores Central Bank of Bahrain license

Fintech Galaxy, the industry-leading financial innovation company, has become the first central bank regulated Open Finance platform in the MENA region after receiving a license from the Central Bank of Bahrain (CBB), allowing the firm to operate as a regulated Third-Party Provider (TPP) and transform the way banks, financial institutions and merchants attract new customers.

03 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

Company update/retail

FDX reports 42 million accounts using its API for financial data sharing

The Financial Data Exchange (FDX) today reports that 42 million consumer accounts are now using its FDX API for open finance data sharing.

01 November 2022

Company update/inclusion

Visa and Brankas unveil open finance products

Brankas, a leading Open Finance technology provider, has today announced that it has gone live with Visa to unveil a new Open Finance solution to increase financial inclusion across Southeast Asia, citing TrustDecision (Tongdun) and IziData as two of the pilot customers already using the joint solutions.

27 October 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

Company update/regulation

Curve chooses Salt Edge as a partner for open banking compliance

Curve, the financial app which empowers customers to understand and master their finances by combining all debit, credit, and loyalty cards into one has partnered with Salt Edge, a leader in open banking.

26 October 2022

Company update/wholesale

Sambla Group signs deal with Tink to strengthen lending business

Tink, Europe’s leading open banking platform, has partnered with Sambla Group - a leading loan broker in the Nordics - to offer the lenders in its network access to more accurate affordability assessments.

26 October 2022

Research/Open banking

UK Open Banking API Performance 2021-2022

26 October 2022 422 downloads

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

Company update/retail

Capco and Plaid forge open finance alliance

Capco, a Wipro company and global technology and management consultancy, and Plaid, an industry leader powering the digital financial ecosystem, today announced a new alliance.

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

Company update/Open banking

Token and Computop team on open banking payments for merchants

Open banking payments platform, Token, and leading Payment Service Provider (PSP), Computop Paygate, have joined forces to answer the growing demand for Open Banking payments in Europe.

21 October 2022

Research/Open banking

The Future of Digital Banking in North America 2023

21 October 2022 1154 downloads

Company update/payments

NatWest inks VRP agreements with three payment providers

NatWest Group has made agreements with Token, Tink and Yapily to offer Variable Recurring Payments (VRP) as a new and convenient payment option for businesses and consumers.

20 October 2022

Company update/retail