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Report: Publication of Consumer Priorities for Open Banking

A new report (link a bottom of story) is published today which shows Open Banking could realise £18bn value for people and small businesses in the UK over the course of a year. The report highlights the complex challenges ahead to realise this value and sets out a series of priorities for the industry, regulators and government. Today, the Independent Consumer and Small Business Representatives for the Open Banking Implementation Entity (OBIE) have written to the Implementation Trustee of OBIE, the Competition and Markets Authority (CMA), the Financial Conduct Authority (FCA), HM Treasury and the Department for Business, Enterprise, Industry…

Report: Publication of Consumer Priorities for Open Banking

A new report (link a bottom of story) is published today which shows Open Banking could realise £18bn value for people and small businesses in the UK over the course of a year. The report highlights the complex challenges ahead to realise this value and sets out a series of priorities for the industry, regulators and government. Today, the Independent Consumer and Small Business Representatives for the Open Banking Implementation Entity (OBIE) have written to the Implementation Trustee of OBIE, the Competition and Markets Authority (CMA), the Financial Conduct Authority (FCA), HM Treasury and the Department for Business, Enterprise, Industry…

Fintech Yapily raises $5.4M for Open Banking API

Yapily is the London-based fintech startup offering an Open Banking-based API platform, enabling financial services providers and other kinds of enterprises, like merchants, to connect to banks. In its seed funding the startup recently raised $5.4 million.

PayPal look to Tink in the Open Banking market

PayPal Holdings has invested 10 million euros ($11.2 million) in Tink, a Swedish company that enables banks and financial technology start-ups to access financial data more easily, the companies said on Tuesday.

Not about banking

As Open Banking evolves beyond apps that collate customer accounts, the incentives for customer adoption are becoming clearer. Joe McGrath looks at some of the innovators creating a buzz…

Big ambitions

Through lending and payments, the world’s technology giants have already taken a piece of the financial sector. But so far, they’ve stopped short of becoming fully-fledged banks. What’s holding them back, asks Joe McGrath. In Open Banking circles, the prospect of Google, Amazon, Facebook and Apple (GAFA) entering the mainstream…

Fouad Husseini

Industry Insight: Fouad Husseini Founder, Open Insurance Initiative

The quickly-rising number of conferences, InsurTech (insurance technology) hubs, podcasts and online InsurTech magazines across the globe is indicative of an industry that is looking to reshape its image, products, and customer experience.

One in ten European banks to fall away?

A.T. Kearney is predicting the demise of one in ten European banks over the next five years as more agile digital challengers embrace the changes wrought by Open Banking to increase their market reach.

Konsentus and Neonomics in strategic partnership

Konsentus, a RegTech company that delivers SaaS solutions to Financial Institutions to enable them to be PSD2 Open Banking compliant have announced a new strategic relationship with Neonomics.

First past the post for Khaleeji Commercial Bank

Khaleeji Commercial Bank has become the first bank in Bahrain to be fully compliant with the Central Bank of Bahrain’s Open Banking directives.

Industry Insight: Yvonne Dunn, Pinsent Masons

Open Banking is ushering in a brave new world, with many possibilities as to how it could develop. Already parts of the industry are expanding the discussion from Open Banking to Open Finance – looking beyond banking to additional applications.

National Bank of Bahrain enhances Open Banking services

Bahrain’s national bank partners with Tarabut Gateway, Bahrain’s first licensed open banking systems provider, to enable customers to access new digital services and aggregate all their accounts from different banks

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