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Barclays has announced a strategic partnership between its Barclaycard Commercial Payments division and enterprise software firm SAP UK. Barclaycard will integrate its B2B payment product, Precisionpay, into SAP’s global supply chain management platform Ariba. It will be the first product to launch on the Ariba Network, aiming to “combine the perks of card payments for…

Traditional banking groups now consider the acquisition of new technologies as justification for mergers and acquisitions (M&A), and are adjusting how they assess deals, according to research from consultancy Accenture. The report, Riding the Consolidation Wave: Navigating the Next Wave of Consolidation, is based on a survey of global banking institutions from around the world…

ClearBank has been awarded a £60m grant by the RBS Alternative Remedies package to improve business banking for small and medium-sized enterprises (SMEs). The grant is part of a £775m package backed by the UK Government and overseen by Banking Competition Remedies, the organisation established to stimulate competition in the banking sector. Awards have been…

Fintechs may be in the spotlight when it comes to innovation, but Citi’s Treasury and Trade Solutions boss believes the bank can give them a run for their money, finds Joe McGrath. Advances in technology and service for consumers are raising expectations on the corporate level, driving change in the business environment. Ireti Samuel-Ogbu, Citi’s…

Khaleeji Commercial Bank (KHCB), one of the leading Islamic banks in Bahrain, recently announced that it has partnered with Token.io as part of the bank’s preparations to provide open banking services to its clients in compliance with the new regulatory requirements. Token is represented by Tarabut Gateway, a subsidiary of Almoayed Technologies licensed by the…

As competition between banks builds across the UK, Open Banking Magazine caught up with the man leading the FinTech charge for Danske Bank in Northern Ireland. Joe McGrath reports…   In December 2018, Danske Bank became the first of the so-called ‘big four’ Northern Irish banks to offer account aggregation in a mobile banking app.…

Source: Klarna press release Today, Klarna, one of Europe’s leading payment providers, announced the launch of its own Open Banking Platform. This platform will enable access to more than 4,300 European banks through a single Access to Account (XS2A) API in line with Payment Services Directive (PSD2). Klarna’s XS2A API is the most established and…

Ant Financial Services Group and Hoperun Information Technology have created a Distributed Core Banking Platform (DCBP), to help financial institutions shift their business models from transaction to customer-focus. The China-based organisations said the DCBP is a “next generation banking product” that aims to help financial institutions tackle digital challenges, including distributed development, financial product management…

Open Banking Third Party Provider (TPP) Identity & Regulatory checking specialist, Konsentus, and turnkey Open Banking platform provider, Token.io, today announce a strategic partnership to provide European financial institutions (FIs) with a fast and powerful combined solution for PSD2 compliance. With PSD2’s Regulatory Technical Standards (RTS) deadline passed, European FIs are under pressure to move…

Circit has announced it has been granted registration as an Account Information Service Provider (“AISP”) by the Central Bank of Ireland (“CBI”). Regulation by CBI paves the way for Circit to connect auditors with independent sources of audit evidence held by the banks of their client companies. Circit was founded in Dublin in 2017 to introduce…