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.
The company has bought Arcus FI, an alum of Mastercard’s ‘Start Path’ programme, to bring real-time payment applications to Latin America.
The former finance minister of the Government of Canada delivered the opening keynote on the first day of Open Banking Expo Canada, in which he told banks and fintechs there is ‘room for everyone to do better’.
Cietan Kitney, head of strategy, Asia Pacific at Visa will join the board following the strategic investment.
The London-based API provider has partnered with Australia’s Judo Bank and has hired Matthew Tyrrell as APAC commercial director.
The expansion of the Terminal will enable businesses to ‘unify’ their in-person and online payments experiences.
Saba Shariff, head of new product development and corporate strategy at Symcor, tells Open Banking Expo what needs to happen in the next six months to move consumer-directed finance forward in Canada.
Under the data sharing agreement, mutual customers will have better access and control over their financial data.
A new report published by Frollo revealed that 76% of fintechs want to start using Open Banking in the next 12 months, while 66% of banks and lenders plan to use CDR data over the same period.
