COVID-19 Open Banking

How Covid-19 turned out to be Open Banking’s moment to shine (Constanza Castro Feijóo,

If you were to ask a UK business in the past few months whether they use Open Banking, they might look confused. But if you asked them whether they’ve been using digital tools to help them forecast their cashflow, see their accounts in real time, issue paperless invoices to clients or apply for a government […]

Fintech Open Banking UK

Barclays invests in Open Banking-based utility switching app Youtility (Finextra)

Youtility, a London-based startup tapping into Open Banking to help people track their household expenses and switch utility suppliers, has raised £4.5 million in a funding round joined by Barclays.Barclays was joined by Icap founder Michael Spencer and Ascension Ventures’ Fair By Design Fund, which focuses on firms targeting low-income households. The free Youtility app […]

Fintech Open Banking

JHA BankAnywhere Offers Open, Digital Banking Platform (Jack Henry & Associates,

Cloud-based solution allows community and regional banks to leverage proven technology to quickly launch digital-only neobanks MONETT, Mo., Jan. 30, 2020 /PRNewswire/ — Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Jack Henry Banking® division today introduced JHA BankAnywhereSM, a cloud-based digital banking system built […]

Canada Open Banking Open Finance

FDATA North America Statement on Department of Finance Canada Open Banking Report

January 31, 2020, Washington, DC – The Department of Finance Canada today released Consumer-Directed Finance: The Future of Financial Services, which is the result of more than nine months of consultation with stakeholders in the financial services and financial technology sectors. Financial Data and Technology Association (FDATA) of North America Executive Director Steve Boms issued the following […]

Nigeria Open Banking Payments

Open Banking, CeBIH’s role and Nigeria’s e-payment growth

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 […]

Fintech Open Banking Scotland

Money Advice Scotland to pilot Open Banking technology (Lauren Tavener,

Scottish money charity, Money Advice Scotland, is piloting Open Banking technology on its new webchat service to speed up the early stages of debt advice. By using Experian’s Affordability Passport, Money Advice Scotland will be able to gather crucial data in minutes, as opposed to the weeks and months it can take over several advice […]

Open Banking South Korea

South Korea: Let the app wars begin (Morgan Davis,

South Koreans can start deleting some of the banking apps that clutter up their mobile phone screens.  Under the country’s new open banking system, customers no longer need a plethora of icons representing different banks and payment systems, but can access their accounts with a single tap. Thanks to new open-banking regulations, customers can monitor […]

Fintech Open Banking UX

Open Banking Fintech Partnerships Required For Better CX (Jim Marous,

Image courtesy of Traditional banks and credit unions continue having a difficult time meeting the level of experience that today’s consumers expect. Many products are simply outdated, and the level of friction and poor design of applications are hindering growth. Open banking provides the opportunity to leverage the experience benefits that fintech firms provide […]

Fintech Open Banking

BankThink Open banking’s three biggest pitfalls (Jacob Kosoff, Aaron Bridgers, Henry Lee, American Banker)

Moving to an open banking system comes with both costs and benefits that each bank will need to weigh before diving in. The benefits are clear: an ability to focus on core financial services, a better line of sight into the overall financial picture of a client, new revenue opportunities and better risk-based pricing. However, […]

Open Banking

Goldman Sachs, the 150-year-old investment bank, is staking its future on a mobile app (Hugh Son,

KEY POINTS When Goldman Sachs released a long-awaited app for customers of its Marcus consumer bank last week, it did so with little fanfare or hype. But the app will one day serve as the bank’s storefront and one-stop shop for an array of digital banking services, according to Adam Dell, a Goldman Sachs partner […]