Token beds down with CMA9

Turnkey open banking platform provider, Token.io Limited, today announces it is the first Payment Initiation Service Provider (PISP) to conduct an end-to-end payment with public bank APIs for each of the CMA9, a group of the nine largest banks and building societies in Great Britain and Northern Ireland. Reaching this…

Open Banking: Endless opportunities for Hong Kong financial sector

The global banking industry is undergoing a wave of disruption and there has never been a better time for fintechs and developers to hitch a ride on the wave. Introduction of the Hong Kong Monetary Authority’s Open API Framework for the banking sector is throwing up an unprecedented amount of…

EU regulation will drive U.S. banks to embrace FinTech or lose market share

Europe’s financial services industry has been forced to embrace Open Banking and customer data sharing. Now, with PSD2, U.S. banks will soon have to follow suit or face increased online competition. Two significant changes to European Union regulations have given the FinTech industry a major shot in the arm and…

Why Lufthansa Group is opening up its APIs

Lufthansa Group is increasingly turning to application programming interfaces (APIs) as a way to expand its digital reach, cut out aggregators and diversify its direct sales channels. Through its digital Innovation Hub in Berlin, which was founded in 2014, the airline group (Lufthansa, Austrian Airlines, Swiss and Eurowings) has been…

Threat or no threat? That is the question

The Open Banking system was designed to give consumers more control over their financial information and access to a wider range of products and services. However, there have been concerns over the general safety of consumer data as we approach this new banking revolution. Below are some of these concerns:…

Can the U.K.’s major banks do more to embrace Open Banking?

Seven months have passed since the U.K.’s biggest banks were mandated to release open APIs for their customers’ account information under open banking and European Union PSD2 regulation. The process was completed by mid-April, but it fell short of creating a truly open system for data sharing. One of the…

How Fintech Will Save The High Street

UK high street retailers are struggling with customer footfall because of technological advancements in recent years, ensuring that consumers have easier, faster and cheaper ways of purchasing what they need. While this is just a marker of transformation through innovation, what hasn’t changed is that customers still want to use…

Big six come under fire for slow take-up of Open Banking rules

Source: Telegraph Britain’s big lenders have been criticised for their slow take-up of so-called “Open Banking” reforms designed to spark a digital revolution in banking. The rules kicked in at the start of the year to make it easier for people to move their financial data to rival service providers. They…

Deposit Solutions targets Swiss finance industry via European Open Banking expansion

German fintech firm Deposit Solutions is targeting an initial expansion into the Swiss market after successfully raising $100 million at its recent investment round. The Hamburg-headquartered firm pioneeringly allows people to access the best interest rates from different banks without having open new accounts with each lender. This round of…

The American way of Open Banking regulation

Across the world, the trend towards open banking regulation is clear – and is rapidly gaining traction and momentum. In Europe we’ve seen the launch of PSD2 for the EU and CMA Open Banking in the UK. In Asia Pacific there have been Open API regulations e.g. Hong Kong’s HKMA…