Open Banking Standards version 3.0 published

The Open Banking Implementation Entity (OBIE) is pleased to announce the publication of the Open Banking Standards, version 3. This update builds significantly on the version of the Standards that launched in March 2018, effectively giving account providers who implement them in full, a solution that complies with the EU’s…

Irish fintech Priviti sniffs Open Banking opportunity in Australia

As Australia prepares for its new Open Banking standards and the Consumer Data Right, Priviti, the global fintech company, is helping banks get ready to comply with new legislation and empower consumers with greater control over how their personal data is shared. Its extensive experience with global data protection laws…

Xero launch Open Banking journey

New-Zealand-based cloud accounting platform Xero has announced the imminent release of an open banking API. The full featured API will allow banks, fintechs, and financial institutions to integrate with the platform with minimal development, the company said. As a result, data can be imported via direct bank feeds, allowing for…

Open Banking and the evolution of digital payments

Consumers are set to benefit from an improved user experience under Open Banking, but what is the opportunity for banks and PSPs in the new Open Banking era? Open Banking is without doubt one of the most significant changes in the European banking sector in recent years. Many banks in…

Australia’s Big Four roll out real-time payments with Osko

Australia’s New Payments Platform is expecting a surge in transactions as the country’s Big Four banks roll out Osko, an overlay service which enables account-to-account real-time payments via e-mail and mobile phone numbers. Launched in February this year, the NPP board and bank-backed infrastructure body Bpay have been waiting on…

Anorak teams up with Open Banking app Starling

Life insurance technology provider Anorak has partnered with open banking platform Starling to offer its customers life insurance. Starling is one of a number of mobile finance app solutions to have emerged in recent years. The partnership with Anorak will allow Starling customers to connect their account to Anorak’s service…

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…