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

EBA calls on regulators to get tough with banks over data sharing

The European Banking Authority is calling on national supervisory authorities to take action against banks limiting access to payment accounts for third parties.

22 February 2021

News/payments

Marqeta moves into credit card issuing and processing

On the heels of filing for an IPO, Marqeta has added credit cards to its open API issuing and processing platform.

18 February 2021

News/crypto

SBI takes stake in digital asset bank Sygnum

Swiss digital asset bank Sygnum has scored an eight-figure dollar investment from a unit of Japanese financial behemoth SBI Holdings.

18 February 2021

News/retail

Monzo extends gambling block to payments made via Open Banking

Monzo is stepping up its mission to help customers struggling with gambling addiction, teaming up with TrueLayer to extend the block to Open Banking-enabled payments.

18 February 2021

News/payments

Marqeta files with SEC for IPO - Reuters

Open API card issuing and processing platform Marqeta has filed confidentially with US regulators for a proposed initial public offering, according to Reuters.

17 February 2021

News/wholesale

ANZ NZ taps Bud for Open Banking implementation

New Zealand's biggest bank, ANZ NZ will utilise Open Banking technology from the UK's Bud to improve the loan approval process for business customers.

17 February 2021

News/startups

Fronted emerges from Covid-hibernation

Fronted, a UK startup that uses Open Banking technology to lend cash for rental deposits, has come out of hibernation after the pandemic upended its initial launch plans last year.

16 February 2021

News/payments

Atom signs Open Banking deal with Plaid

Atom Bank has signed a deal with Plaid to introduce Open Banking and payment initiation services to small business customers.

16 February 2021

News/retail

Equifax acquires Open Banking partner AccountScore

Equifax has acquired long-term Open Banking partner AccountScore, in a deal that will see the combination of traditional credit bureau information held by Equifax with bank transaction data.

09 February 2021

News/cloud

B2B capital raising tech outfit Hubx snags $5.5m

Business-to-business capital raising platform Hubx has closed a $5.5 million funding round with participation from Barclays.

09 February 2021

News/retail

Yolt Technology Services brings Open Banking to mortgage lending

ING Bank-backed Open Banking vendor Yolt Technology Services is to expand its Account Information Services to support UK mortgage lenders, the first step in a move to a more wide-ranging model of Open Finance.

04 February 2021

News/payments

HMRC awards Open Banking contract to Ecospend

The UK tax authority has handed a £3 million Open Banking contract to fintech startup Ecospend, with the aim of making it easy for taxpayers to submit payments direct from their bank accounts, rather than through debit or credit card.

03 February 2021

News/startups

Cross-border payments startup Routefusion raises $3.6m

Routefusion, an Austin-based startup that helps tech companies embed cross-border payments in their applications, has raised $3.6 million in seed funding.

02 February 2021

News/startups

Dozens inks Open Banking deal with Bud

UK challenger banking app Dozens has enlisted Open Banking outfit Bud to let prospective customers access some of its services without having to fully sign up.

28 January 2021

News/payments

Token snags $15 million in Series B funding

Open Banking payments platform Token has secured $15 million in Series B funding from SBI Investment and Sony Innovation Fund as well as from existing investors Octopus Ventures, EQT Ventures and the venture arm of BNP Paribas, Opera Tech Ventures.

27 January 2021

News/retail

Big US banks pilot data sharing risk assessment service

Bank of America, JPMorgan Chase, PNC Bank, TD Bank, Truist, US Bank, and Wells Fargo have piloted a data sharing risk assessment service that streamlines risk evaluations of data aggregators and financial apps.

27 January 2021

News/payments

TrueLayer launches payments-as-a-service product

Open Banking API provider TrueLayer has launched its first payments product, providing firms with the ability to onboard customers and bypass card schemes using faster payment rails for account-to-account payouts and deposits.

26 January 2021

News/wholesale

Wells Fargo leads $20m Series A for cash management startup Trovata

Trovata, a US startup specialising in automating cash reporting and forecasting through wholesale, multi-bank API data aggregation, has raised $20 million in a Series A funding round led by Wells Fargo Strategic Capital.

20 January 2021

News/regulation

Konsentus acquires Open Banking Europe

Konsentus has acquired Open Banking Europe, the operator of a centralised PSD2 directory supporting bank data sharing initiatives, from EBA Clearing subsidiary Preta.

18 January 2021

News/devops

Open Banking year three: Insights from the CMA9

The UK banking industry had its hands full in 2020 as institutions had to respond to lockdowns and other restrictions on business activity designed to curb the spread of Covid-19. What effect did this have on the ongoing adoption of Open Banking? In Finextra’s annual review, we look at how Open Banking has grown, what still needs to improve and what will happen next.

13 January 2021

Open APIs