Posts by Newsdesk

Financial services leaders say finding the right partners is a major challenge As the first anniversary of Open Banking and PSD2 arrives, a report from law firm TLT finds that partnerships will be key to winning the race to launch successful open banking products. However, the report also finds that selecting the right partners is…

Virtusa, a global provider of digital strategy, digital engineering, and IT outsourcing services that accelerates business outcomes for its clients, announced today the successful implementation of the Middle East region’s first Open Banking Sandbox with Emirates NBD, a leading banking group in the UAE. The Open Innovation Platform, developed by Virtusa’s innovation hub, is a…

Volante Technologies Inc., a global provider of software for accelerated end-to-end payments processing and financial message integration, today announced that Bank Leumi (UK) has selected VolPay Open Banking to implement PSD2 compliance and enable open banking business models. Bank Leumi (UK) is a specialist and relationship bank based in the UK. By choosing Volante’s Open…

Nordea is launching Instant Reporting, a new Open Banking solution that enables corporate customers to access their own accounts and integrate real-time data with their own systems and processes. It is the first offering from Nordea that moves beyond legal requirements in PSD2 and turns Open Banking into a commercially viable product. PSD2 (Payment Services…

Plaid, a US fintech that enables consumers to connect their bank accounts to other financial services providers through application programming interfaces (APIs), has acquired Quovo, a similar startup, per a blog post. Although financial details have not been disclosed, Plaid is said to be paying around $200 million for its biggest competitor, according to Bloomberg citing…

Specialist lender Bluestone Mortgages has launched a pilot phase of its open banking solution as part of its core underwriting process. Bluestone says it is the first specialist mortgage lender in the UK to incorporate Open Banking. The pilot will be rolled out to a select group of advisors on Bluestone’s panel with a national launch…

TrueLayer will now offer Deutsche Bank, Sparkassen, Commerzbank and other major German banks direct access to financial data following the first international move for the European API provider. Ahead of the one year anniversary of Open Banking, the company’s Data API will ensure that businesses can minimise cost and the time it takes to integrate…

IATA has launched a new payment system through which an instant direct payment can be made to airlines for flights, making the process safer and faster. IATA has announced the successful completion of the first ‘IATA Pay’ ticket purchase transaction in a live test environment. The transaction was conducted in partnership with ipagoo, a UK-based…

TransUnion (formerly Callcredit), the global risk and information solutions provider, has launched an Open Banking early adopter programme after receiving permission to operate as an Account Information Services Provider (AISP) from the Financial Conduct Authority (FCA).   Following extensive testing and consultation with a range of clients across a number of industry sectors, TransUnion Open…