Open Banking

Open banking, which allows third-party providers to access banking data through secure application programming interfaces (APIs), has gained momentum globally as a means to enhance financial services. Recent U.S. regulatory ...

British banking providers have completed their Roadmap for Open Banking. That’s according to an announcement Monday (Sept. 9) from Open Banking Limited (OBL), which had gotten confirmation on the completed roadmap from the ...

Trustly and Newline by Fifth Third have teamed up to facilitate money movement in the United States. This collaboration brings together Trustly’s open banking payments and Newline’s embedded payments platform, the ...

Nova Credit has launched a partnership with data access network Akoya. The collaboration, announced Wednesday (Sept. 4), is designed to help lenders employ cash flow and income analytics for better credit ...

Financial infrastructure and integration technology company PortX is launching Fintech Hub on AppMarket from Fiserv. PortX, which offers integration-platform-as-a-service (IPaaS) to financial institutions, said in a Wednesday (Sept. 4) news release that ...

There’s moving money and then there’s money mobility. One represents the current state of how money moves in and out of accounts. The latter is the cornerstone of today’s announcement ...

Open banking platform Tarabut has acquired British account-to-account (A2A) business payments platform Vyne. The deal, announced Tuesday (Sept. 3), is designed to strengthen Tarabut’s ability to offer faster and more accessible and interconnected financial services in ...

Cue the Beach Boys and Jimmy Buffett. It’s the last week of summer, and while a lot of the banking and payments world was on vacation, we were busy covering ...

Within an open banking environment, advances like pay by bank are transforming money movement. At its core, pay by bank allows consumers to make payments directly from their bank accounts, bypassing ...

As the regulatory gaze sharpens on FinTechs, the companies themselves are mindful that they need new tools and a new approach to operations, in order to stay on the right ...

Great Britain’s payments regulator has taken another step in its variable recurring payments (VRP) project. In December, the Payment Systems Regulator (PSR) put forth a “call for views,” which included proposals ...

Mastercard is upgrading its open banking for lending program, powered by employment/income verifier Argyle. The new features, announced Tuesday (Aug. 13), lets Mastercard offer income and employment coverage to the estimated ...

Open banking payments firm Trustly says it has seen a surge in transaction value. The company announced Tuesday (Aug. 13) that it processed 13.1 billion pounds ($16 billion) in payments in the U.K. between ...

As younger and affluent consumers drive the trend, open banking payments stand on the verge of widespread acceptance. This payment method, which allows users to complete transactions directly from their ...

While open banking starts to gain traction in the U.S., across the pond the banking and payments sector is celebrating milestones. Last week it celebrated ten million active users. Is ...

Australian bank NAB has launched a collaboration with FinTech lender Plenti. The partnership, announced Wednesday (July 24), lets Plenti’s customers make faster loan repayments via NAB’s pay-by-bank offering PayTo. “Plenti is the first NAB business customer to ...

A year after its launch, the FedNow® Service, the instant payment service introduced by the U.S. central bank last July 20, has seen 900 banks sign up and connect to the ...

Open banking, as it emerges more fully in the United States, promises to bring personalized services and products to customers, expanding financial access. Data underpins the joint efforts of traditional financial ...

Today’s digital landscape has transformed the operational calculus for financial institutions (FIs) and corporations. And with the news Thursday (July 17) that the U.S. Department of the Treasury and the Financial ...

The banking industry wants more time to comply with a new rule governing consumer financial data. The open banking regulation in question is the Consumer Financial Protection Bureau (CFPB)’s “Proposed Required ...

Open banking at retail — at the point of checkout — has the advantage of lowering the costs below traditional credit and debit options. Christina Potter, head of eCommerce at Trustly, ...

All the innovation in the world changes nothing if it fails to meet the needs of end-users. And against a backdrop where expectations around payments convenience, speed, security and, increasingly, personalization ...

Great Britain’s digital sector is reportedly seeing its slowest job growth in a decade. As Bloomberg News reported Thursday (July 11), this has led the incoming Labour government to promise to revitalize the ...

As regulators draw a bead on neobanks, traditional financial institutions are acting more like neobanks. Open banking looks set to transform financial services in the United States, and the approach, in ...

As open banking takes root in the United States, the role of application programming interfaces (APIs) will become more widely known and appreciated. That’s one of the predictions and insights ...

Australian Banking Association (ABA) CEO Anna Bligh said its “time to go back to the drawing board” when it comes to the country’s open banking rules. Bligh said this in a Wednesday ...

There’s the payment and then there’s everything that happens around it. That’s why financial services companies, from insurance to FinTechs to enterprise-grade banks, add services to protect, analyze and optimize ...

Now that the Labour Party’s been ushered into power in the U.K. — in a landslide vote — what’s next for open banking in the United Kingdom? New Prime Minister Keir ...

Swedish tech firm Lenovo is offering open banking at checkout via a partnership with Trustly. The collaboration, announced Wednesday (July 3), is open to Lenovo customers in the U.K. and continental Europe, providing them with an ...

Payments orchestration platform Gr4vy has expanded its partnership with open banking payments firm Trustly. The extended collaboration, announced Tuesday (June 25), will bring Gr4vy’s services to Europe, and follows an earlier partnership in the U.S. last ...

Without education, awareness, or utility, any innovation will find it hard to scale. Fortunately for open banking, which allows consumers to securely connect to their bank accounts to pay merchants and ...

It’s said that imitation is the sincerest form of flattery. If that’s the case, payments industry veteran and Trustly Inc. CEO Alex Gonthier should feel quite validated these days. While he ...

Consumer Financial Protection Bureau Director Rohit Chopra took note during his Wednesday appearance before the Senate Banking Committee that companies including PayPal and JPMorgan are monetizing customers’ financial data — ...

Consumer Financial Protection Bureau Director Rohit Chopra is set to testify on Capitol Hill this week. He is scheduled to appear before the Senate Banking Committee Wednesday (June 12) and the ...

Open banking’s success in the United States — as with any ecosystem — will hinge on several factors, none guaranteed. But, with lessons learned from abroad, and with an incrementally clearer ...

Mastercard will add new open banking-powered solutions that make it easier for consumers to automatically switch their direct deposits and update their recurring bill payments. These capabilities will result from the ...

In the move to solidify the framework for open banking, the field for just who will help set the standards is wide open. News came Wednesday (June 5) that the Consumer ...

The Consumer Financial Protection Bureau (CFPB) has taken another step in its push to accelerate open banking. The U.S. consumer watchdog on Wednesday (June 5) announced it had finalized a rule ...

The CEO of Swedish FinTech Trustly says going public is not yet on the company’s radar. Speaking to CNBC Thursday (May 30), Johan Tjarnberg said that although his company just recorded a 51% increase in operating profit, ...

In an era of rapid technological advancement, there remain certain immutable aspects — particularly for payments. When it comes to the way businesses and consumers transact, speed, security and convenience are ...

The FICO score — what we might think of as the general “shorthand” for lending — was created back in 1989. In the decades since, and now as we’re on the ...

There’s no shortage of evidence showing that digital payment methods are nearing a tipping point. As PYMNTS Intelligence and the Federal Reserve have reported, consumers and businesses are accelerating their use of digital ...

Stripe has debuted an open banking-powered payment method and faster manual payouts in the United Kingdom. In addition, the company has expanded Stripe Capital to the U.K., the company said in a Tuesday (May ...

Reading the Thursday (May 16) Supreme Court ruling upholding the constitutionality of the Consumer Financial Protection Bureau’s funding mechanisms — and ensuring the agency’s survival — takes one through centuries of history. All the way back to ...

Dwolla and Visa have partnered to make it easier for mid- to enterprise-size businesses to use pay-by-bank to pay and get paid. With this collaboration, Visa’s open banking solutions are integrated ...