Archive for February 2019

Turnkey open banking platform provider, Token.io Limited, today announces it has been selected by Mastercard to power the connectivity layer of its open banking hub. The hub will connect merchants, retailers and other regulated third parties to financial institutions in Europe for data and payment transactions.   Further to the announcement in June 2018, Mastercard’s…

Colombia Fintech and Open Vector have started 2019 by signing an MOU for the development of Open Banking in Colombia. This agreement seeks to exchange knowledge for the Fintech community in Colombia and thus take the first steps for the country to officially adopt Open Banking.   “Having this collaboration agreement with Open Vector will…

Lloyds Bank and Halifax customers can now see all their personal current accounts from different banks at their fingertips thanks to the latest mobile banking app feature. The new Open Banking functionality will enable customers to safely and securely see all of their current accounts in real-time within the mobile banking app, without the need…

Open Banking platform Tink has announced its completed a €56 million investment round, which is the company’s largest to date. Insight Venture Partners led the funding round. Also participating were existing investors Sunstone, SEB, Nordea Ventures and ABN AMRO Digital Impact Fund. They were joined by new investors Christian Clausen, former Chairman of the European…

AccountScore, together with The Insolvency Panel, have announced the launch of the first ever Open Banking solution for the debt advice and debt solutions sector.   The service, going live in February, will use AccountScore’s Open Banking platform consents.online to instantly auto-populate consumers’ income and expenditure information, direct from their current account, in complete compliance…

Innovative fintech company FreeAgent has become the first UK accounting software to offer direct bank feeds via the Open Banking platform – giving customers even greater security and visibility over their business finances. The firm, who make award-winning cloud accounting software for small businesses, freelancers and accountants, has unveiled new Open Banking feeds for UK…

Opinion by; James Buckley, VP and Europe Director, Infosys Finacle The last few years have seen several non-banking companies such as technology majors, digital upstarts and FinTechs steadily expand their foothold in the financial services space. A 1recent study revealed that FinTechs now constitute about 33% of the financial services revenue globally. The recent Infosys Efma…

HSBC Holdings PLC and Goldman Sachs Group Inc. are among the investors in a $20 million funding round for U.K. banking-technology startup Bud. Bud said on Monday that it will use the money to create the world’s largest team dedicated to the development of Open Banking technology, connecting customers’ bank data with third-party applications and…

The Open Banking Implementation Entity (OBIE) is pleased to announce the publication of its Operational Guidelines and accompanying Checklist. The Guidelines have been produced to provide clarity and recommendations to financial institutions (ASPSPs) on the regulatory requirements for a dedicated interface, as set out in PSD2, RTS, EBA Guidelines and FCA Approach documents. The Checklist…

Reservations about data security pose the biggest challenge when it comes to increasing consumer adoption of Open Banking, according to a new white paper from credit reference agency and information solutions provider, TransUnion (formerly Callcredit). Based on research with both consumers and financial sector decision-makers across the UK, the study found that consumers cite the…