Industry news
The UK regulator announced the alterations to the 90-day authentication rule following a consultation in which respondents called it “onerous” and reported “high customer dropout rates” as a result.
The Open Banking Exchange team will work closely with Sigma Software Group, as well as the Ukrainian Interbank Payment Systems Member Association and the National Bank of Ukraine, to kickstart Open Banking in the country.
Builds on existing relationship between the two companies, with Australia’s Beyond Bank already using Frollo’s PFM platform to launch a financial wellbeing app.
A new report finds a third of businesses are crying out for freelancers – but can’t pay them on time. Sonovate’s Richard Prime explains which fintech trends are helping businesses to accommodate the rising freelance demographic.
Delegates at Open Banking Expo Canada heard from speakers at the last panel of the Confex that small businesses are sceptical about data sharing and will need the fintech community to ‘communicate the benefits’.
Atalaya Capital Management led the investment, with Warwick Capital Partners, Allica Bank’s majority shareholder.
The Icelandic bank has chosen Salt Edge’s PSD2 compliance solution and has opened a sandbox, hosted by Salt Edge, for fintechs.
The fintechs have partnered to be able to issue physical and virtual cards for SMEs.
The Open Access move aims to introduce competition to the market, using Open Banking to make its range of finance and admin products on the Tide platform available to businesses, without them having to open a Tide business account.
The deal will see the challenger bank acquire around 2,000 SME borrowers from AIB Group, which is exiting the UK SME market, and brings forward its target profitability date to mid-2022.
