Digital banking fintech Revolut called in police and regulators in the last few months after finding suspected money laundering on its system. Revolut contacted the National Crime Agency and City watchdog the Financial Conduct Authority after finding the suspected payments. The digital challenger bank was founded in London in 2015…
ClearScore is to use Open Banking to offer users a detailed insight into their financial situation, with prompts to switch mortgages and credit cards. The credit checking firm’s OneScore will combine credit scores with information pulled from current accounts, along with data from assets, savings and protection in an effort…
Online research from Equifax has revealed the lack of awareness of banking options among consumers. When presented with a list of digital banks 60% hadn’t heard of any of the brands and only 20% would opt for a challenger bank if opening a new account today. The survey, conducted…
Metro Bank has launched its developer portal, opening up the bank’s platform to FCA-registered third-parties wishing to build services on top of its APIs and helping to create more choice and opportunities for consumers and businesses to better manage their money. Built in collaboration with Google’s Apigee team using Apigee’s…
Nationwide Building Society has challenged the fintech community to develop Open Banking technology that helps improve the lives of the one in four UK households who are financially squeezed – equivalent to 12.7 million people Launching in September, Open Banking for Good will pair established fintechs and start-ups with debt…
Liberis has taken advantage of Open Banking technology to increase funding access for SMEs by using it to process a full funding application. The alternative finance provider worked with fintech OpenWrks after it was granted access by the customer to see their bank account transaction data in real time. This…
Citi is set to become the first corporate bank to use the UK’s new Open Banking regime to enable its business clients to receive small payments directly from their UK customers’ bank accounts. Open Banking rules require European banks to give third parties access to their customer data, if the…
New research from Unisys Corporation (NYSE: UIS) into Australia’s banking industry reveals that almost a third of Australians are willing to support data sharing in an open banking environment, but only if privacy and security concerns are addressed. The research also found Australian consumers are less willing than those in…
NorthRow extends remit to provide verification checks of FinTech and financial organisation users for Open Banking across European Union and globally. NorthRow (a Contego solutions business), the RegTech and compliance specialist, has been chosen by the UK’s Open Banking Implementation Entity (the ‘OBIE’), to verify its users in the European…
Mastercard has unveiled a suite of services to help banks and fintechs navigate the Open Banking terrain. The programme seeks to address the liability worries of banks sharing their data with third parties and to help startups to better communicate with their banking partners. For banks, Mastercard is building a…
