Latest Open banking News: Finextra Research

Company update/crime

Noda chooses ThetaRay to monitor open banking services

Noda, an open banking fintech, and ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced they will collaborate to enhance payment monitoring and compliance capabilities on Noda’s growing platform that is supporting the new digital economy in Europe.

14 March 2023

News/regulation

Open finance prioritised in UK’s new Data Protection and Innovation Bill

The UK’s Department for Science, Innovation, and Technology has proposed a revised version of the Data Protection and Digital Innovation Bill.

10 March 2023

News/payments

Nigeria's central bank releases PSD2-style open banking legislation

The Central Bank of Nigeria (CBN) has approved operational guidelines on open banking this week, becoming the first country in the African region to adopt open banking regulations.

10 March 2023

News/startups

BaaS platform Synctera makes Canadian play

American Banking-as-a-Service player Synctera has raised $15 million and made a move north of the border through a partnership with National Bank of Canada.

09 March 2023

News/identity

LSEG signs for Mastercard Open Banking tech

London Stock Exchange Group-owned Giact has enlisted Mastercard's Open Banking capabilities to provide a secure account verification offering for its customers.

08 March 2023

News/payments

Weavr acquires Comma to combine embedded and open banking

Weavr, the London-based startup that allows businesses to embed banking and payments into their mobile app or SaaS platforms, has acquired B2B Open Banking platform, Comma Payments.

07 March 2023

News/cloud

Starling on scalability and being cut from the cloud

Finextra spoke with Starling Bank to understand how being ‘born in the cloud’ allows them to accelerate development and scale-up at a fast pace.

07 March 2023

Company update/retail

Innovate Finance and BCG publish new report on open finance

Innovate Finance, the industry body representing UK FinTech, in partnership with professional services firm BCG, has released a new report with key recommendations for the UK to unlock the full potential of Open Finance.

06 March 2023

News/retail

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