Quick summary of Open Banking and the four main elements for organizational success.
EQ bank migrates core system to the cloud as it gears up for Open Banking in Canada (Isabelle Kirkwood, betakit.com)
Toronto-based EQ Bank, the digital arm of Equitable Bank, has announced it is migrating its entire core banking system to the cloud. The bank claims this would make it the first licenced bank in Canada to be fully hosted in a public cloud architecture.“Our recent move to the cloud means we’re not only ready for the […]
Open Banking is an initiative that is aimed at addressing the challenge confronting many bank customers, especially those with multiple bank accounts. For these customers, they would have to visit the branches of each bank, or use their different mobile apps before they can access or use their money in any of the different bank […]
JPMorgan to ban third-party fintech platforms from accessing customer passwords (Mark Wyciślik-Wilson, BetaNews.com)
JPMorgan Chase is to enforce stricter security measures, banning third-party fintech apps from accessing customer passwords. The existing method of data sharing provides — with permission — numerous apps with access to customers’ bank accounts, but concerns have been voiced about the possible dangers. No timetable has been set out, but the American finance giant […]