Posts by Newsdesk

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…

Leveraging Open Banking data, DirectID Insights is the first online decisioning tool for use by Underwriters, Fraud Analysts and Credit Risk Officers that requires absolutely no integration. It drastically reduces operational costs for small and large businesses and unlocks all the information from bank data required for lenders to grant, or deny, loan applications.  DirectID Insights provides those…

I trotted of to the FCA last week, because they asked me to speak on Open Banking in 2019 at their Innovate event. I covered: What are the inflexion points? Why do they matter? What will start failing? What will start scaling? How do you navigate? Here are the highlights….. 1.     What are the inflexion points?…

Source: Fintech Finance Santander Spain customers can register using the Santander Connect button, which facilitates registration at Raisin. Raisin today announced an Open Banking agreement with Santander Spain that allows customers to authorize the bank to share with Raisin defined data for the registration process, such as the customer’s name, date of birth, ID or…

To offer evermore innovative services and a best-in-class relationship experience to its clients, Societe Generale moves to the next level with its Innovation strategy. This strategy is based on strengthened relations with startups, applying key digital capabilities for the whole Group and creating new businesses. Digital transformation is a priority of Societe Generale’s “Transform to…

Credit: Finextra TrueLayer has launched an Open Banking and PSD2-based payments API, giving businesses and consumers an alternative to card payments and bank transfers. Financial API specialist TrueLayer say its new offering, now in public beta, is one of the first Open Banking and PSD2 -based payment APIs. Using the payment initiation process created by…

Experian has launched the first affordability check for gaming websites, which will assist in ensuring people gamble affordably. The affordability check can be made at the most appropriate point for customers, such as when there is a change in their account behaviour or specific behaviour may indicate an increased risk. A total of £5.4 billion…