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Start-up and Nationwide combine to help the 20 million people in Britain with money worries

Today marks the launch of Tully. A FinTech start-up that is free for consumers and created to improve financial education, make it easier for people to manage their money and repay debts faster. The start-up’s innovative approach to money management has caught the attention of like-minded industry names such as Nationwide. Currently, the debt of an average UK household has reached a record £15,400, amounting to a combined total of £482bn across the UK. Hundreds of thousands of people struggle with debt every year and it is estimated that the accompanying physical and mental health impacts resulting from debt stress, costs…

Start-up and Nationwide combine to help the 20 million people in Britain with money worries

Today marks the launch of Tully. A FinTech start-up that is free for consumers and created to improve financial education, make it easier for people to manage their money and repay debts faster. The start-up’s innovative approach to money management has caught the attention of like-minded industry names such as Nationwide. Currently, the debt of an average UK household has reached a record £15,400, amounting to a combined total of £482bn across the UK. Hundreds of thousands of people struggle with debt every year and it is estimated that the accompanying physical and mental health impacts resulting from debt stress, costs…

Chinese e-commerce group chooses Accuity compliance

Chinese e-commerce payments firm Skyee has appointed global financial crime group Accuity to improve and streamline its compliance screening. Skyee will use Accuity’s Firco Compliance Link, a service which meets international regulatory standards on customer authentication and financial crime screening. “As a pioneering service provider of cross-border payment solutions, Skyee…

Barclays announces payments tie-up with SAP

Barclays announces payments tie-up with SAP

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…

Banks change tack on approach to tech M&A

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…

ClearBank lands £60m to improve SME banking

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…

KHCB adopts Token.io to enable its Open Banking services

KHCB adopts Token.io to enable its Open Banking services

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…

Klarna launches Open Banking platform

Industry news: Klarna launches Open Banking platform

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…

Ant Financial unveils banking platform

Industry news: Ant Financial unveils banking platform

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…

Token.io and Konsentus launch fast PSD2 compliance solution

Token.io and Konsentus launch fast PSD2 compliance solution

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…

Circuit brings Open Banking to the audit profession

Irish firm Circuit brings Open Banking to the audit profession

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…

Tandem Bank partners with Token

Turnkey open banking platform provider, Token.io Limited, today announces that its technology is enabling digital challenger bank Tandem to achieve PSD2 compliance and leverage Open Banking opportunities. Tandem is a digital-only bank that provides a money management app, credit cards and fixed-rate savings accounts to more than 500,000 consumers across…