Posts by Newsdesk

Open Banking has acted as a catalyst for mergers and acquisitions in financial services, with activity in the payments and technology sub-sectors particularly prominent. A June 2018 report by law firm White & Case noted that a new wave of M&A activity was on the horizon, following a period of domestic consolidation in Europe, with…

Fortuna Bank, one of the oldest independent banks in Luxembourg, has selected Luxhub as its open banking enabler to assist, in the first instance in, PSD2 (Payment Service Directive 2) compliance, it was announced on 30 July 2018. According to a press release, “Luxhub together with Temenos will allow Fortuna Bank to expose the mandatory APIs…

The US Treasury Department has called for a radical overhaul of financial technology regulation, backing a new national fintech charter, the introduction of sandboxes, and the opening up of access to consumer data. In a 222 page report into non-bank financials, fintech and innovation, the Treasury makes more than 80 recommendations as it sets out…

Apparently, everyday Australians aren’t sitting around the dinner table discussing open banking. While the new regime is a popular topic in the banking industry, new statistics show that you’d be hard-pressed to find someone not “in the know” who actually knows what open banking is. And if they do know, they’re probably unwilling to take…

Right now in financial services, there is a massive shift taking place. European law and UK Open Banking regulations are forcing banks to allow their customers to use any service they want to manage their current accounts, and the results are, from a marketer’s point of view, fascinating. Sure, some banks are being dragged kicking…

Savings-savvy Brits will now have access to a personal finance ‘super-app’ as the UK’s Best Personal Finance App and the Best British Bank join forces. Personal finance management tool Money Dashboard and challenger bank Starling – both winners at the 2018 British Bank Awards – have integrated following a surge in popularity of apps that…

Proptech company Goodlord has struck a partnership with open banking provider TrueLayer, which it says will improve its functionality and service offering to letting agents, landlords and tenants. Goodlord’s proprietary technology streamlines a range of lettings services, including deposits, contracts, compliance, tenant move-in assistance, insurance and referencing. The business says it has grown by 120%…

On 9 May 2018, the Australian government announced it will implement the recommendations of the recent Review into Open Banking by both creating a Consumer Data Right (CDR) within the banking sector and developing a data sharing framework to facilitate an open banking regime. The CDR was first suggested to government by the Productivity Commission…

Business customers are now able to use the DirectID platform to access the UK’s Open Banking services with live connections to all the most significant UK banks including Barclays, HSBC, Lloyds Group (Lloyds, Halifax, Bank of Scotland), Santander, The Royal Bank of Scotland, and Nationwide as well as a number of digital banks such as…

ForgeRock, the leading platform provider of digital identity management solutions, announced today the availability of the ForgeRock Open Banking Directory. Continuing its commitment to innovation and industry leadership, ForgeRock has delivered a reference bank implementation and directory, providing a technical sandbox for organizations looking to build and test Open Banking/PSD2 APIs. The lightweight and incredibly…