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

Mastercard to buy Finicity for open banking push

Mastercard is accelerating its open banking strategy through the $825 million acquisition of real-time financial data aggregation service Finicity.

23 June 2020

News/payments

Orka launches pay advance platform for hourly workers

Orka, a UK technology firm focused on products specifically targeted at hourly workers, has launched a product that enables employees to withdraw a percentage of their wages as soon as they’ve worked a shift.

23 June 2020

News/regulation

UK Finance proposes new oversight model for Open Banking

UK Finance is proposing that the oversight of Open Banking functions should be moved to a new service company upon completion of the implementation roadmap in early 2021.

18 June 2020

News/payments

Worldpay rolls out Open Banking Hub for account-to-account payments

Worldpay is rolling out a new Open Banking Hub to merchants, enabling users to pay for purchases direct from their bank account, circumventing the need to enter card or account information into a third party site.

17 June 2020

News/retail

Revolut launches account aggregation feature in Ireland

Revolut has launched its Open Banking feature in Ireland, providing customers with aggregated account data from AIB, Permanent TSB, Ulster Bank, and Bank of Ireland.

17 June 2020

News/retail

Italy's illimity switches on Open Banking platform with scooter sharing and fitness tracker

Italian digital bank illimity has introduced electronic scooter-sharing firm MiMoto and fitness tracker Fitbit as the first partners for its Open Banking-based collaborative 'Hubs' offering.

16 June 2020

News/wholesale

Starling to provide in-app integration to Slack, energy switching and health insurance

Starling Bank continues to beef up its business banking platform, adding health insurance, energy switching services and Slack integration to its range of third party marketplace offers.

15 June 2020

News/people

Santander to hire 3000 techies this year

Spanish banking giant Santander has vowed to hire 3000 IT professionals worldwide this year as it pushes on with its digital transformation plan.

12 June 2020

News/startups

Codat raises $10m to build business data superhighway between SMEs and FS firms

Codat, a London-based startup that connects the internal systems of small firms to financial institutions to enable business data to flow back and forth in real time, has raised $10 million from Index Ventures.

11 June 2020

News/payments

BBVA Open Platform helps firms move money in real-time

BBVA's API-powered open banking platform has launched a real-time payments service via Visa Direct, for US companies.

11 June 2020

News/retail

Welcome to the Open Banking App Store

The UK's Open Banking Implementation Entity (OBIE), has opened an app store to help consumers and companies navigate through the maze of peripheral financial products available to supplement their online bank accounts.

08 June 2020

News/retail

UniCredit embraces open banking with account aggregator

Italy's UniCredit has introduced an open banking feature that lets customers see all of their current accounts, including those held with other providers, via its online portal and mobile app.

04 June 2020

News/retail

Tink gets second PayPal investment

Swedish Open Banking platform Tink is set to take full advantage of PSD2 after expanding its partnership with PayPal to include all countries in the European Economic Area. The US payments giant is also making a second strategic investment in Tink.

03 June 2020

News/devops

Latin American open banking startup Belvo raises $10m

Mexico City-based Belvo has raised $10 million from Founders Fund and Kaszek Ventures to grow its developer-first financial API platform across Latin America.

29 May 2020

News/payments

Marqeta raises $150m at $4.3bn valuation

Marqeta has raised $150 million from an unnamed institutional investor, valuing the open API card issuing and processing platform at $4.3 billion.

28 May 2020

News/regulation

Open Banking moves from compliance challenge to commercial opportunity

European financial institutions are spending between €50-€100 million on Open banking initiatives, with spend exceeding €100 million for nearly half (45%) of 290 financial institutions surveyed by Swedish account aggregator Tink.

27 May 2020

News/retail

Banks worldwide warm to Open Banking

Research conducted among 774 banks worldwide reveals that 86% of global banks are looking to use APIs to enable Open Banking capabilities in the next 12 months.

26 May 2020

News/retail

Fintech is an opportunity, not a threat - Hong Kong's banks

As they face up to competition from a slew of new 'virtual banks', Hong Kong's traditional lenders are broadly optimistic about their future in the fintech era.

22 May 2020