While Open Banking initiatives are expected to transform the UK mortgage market, a new report suggests that challenger brands may lose market share from the resulting data revolution.   The UK’s largest mortgage lenders will regain the market share that they lost to challenger brands in the coming years, thanks…

Moneybox app has become the first third-party player to launch an Open Banking integration with Santander. Santander joins a small but growing number of traditional banks that have opened up its API to third parties. The partnership between Moneybox and Santander will support customers in saving and budgeting their spare…

Open Banking has acted as a catalyst for mergers and acquisitions in financial services, with activity in the payments and technology sub-sectors particularly prominent. A June 2018 report by law firm White & Case noted that a new wave of M&A activity was on the horizon, following a period of…

Fortuna Bank, one of the oldest independent banks in Luxembourg, has selected Luxhub as its open banking enabler to assist, in the first instance in, PSD2 (Payment Service Directive 2) compliance, it was announced on 30 July 2018. According to a press release, “Luxhub together with Temenos will allow Fortuna Bank…

The US Treasury Department has called for a radical overhaul of financial technology regulation, backing a new national fintech charter, the introduction of sandboxes, and the opening up of access to consumer data. In a 222 page report into non-bank financials, fintech and innovation, the Treasury makes more than 80…

Apparently, everyday Australians aren’t sitting around the dinner table discussing open banking. While the new regime is a popular topic in the banking industry, new statistics show that you’d be hard-pressed to find someone not “in the know” who actually knows what open banking is. And if they do know,…

Right now in financial services, there is a massive shift taking place. European law and UK Open Banking regulations are forcing banks to allow their customers to use any service they want to manage their current accounts, and the results are, from a marketer’s point of view, fascinating. Sure, some…

Savings-savvy Brits will now have access to a personal finance ‘super-app’ as the UK’s Best Personal Finance App and the Best British Bank join forces. Personal finance management tool Money Dashboard and challenger bank Starling – both winners at the 2018 British Bank Awards – have integrated following a surge…

Proptech company Goodlord has struck a partnership with open banking provider TrueLayer, which it says will improve its functionality and service offering to letting agents, landlords and tenants. Goodlord’s proprietary technology streamlines a range of lettings services, including deposits, contracts, compliance, tenant move-in assistance, insurance and referencing. The business says…

On 9 May 2018, the Australian government announced it will implement the recommendations of the recent Review into Open Banking by both creating a Consumer Data Right (CDR) within the banking sector and developing a data sharing framework to facilitate an open banking regime. The CDR was first suggested to…

Business customers are now able to use the DirectID platform to access the UK’s Open Banking services with live connections to all the most significant UK banks including Barclays, HSBC, Lloyds Group (Lloyds, Halifax, Bank of Scotland), Santander, The Royal Bank of Scotland, and Nationwide as well as a number…

ForgeRock, the leading platform provider of digital identity management solutions, announced today the availability of the ForgeRock Open Banking Directory. Continuing its commitment to innovation and industry leadership, ForgeRock has delivered a reference bank implementation and directory, providing a technical sandbox for organizations looking to build and test Open Banking/PSD2…

TrueLayer, the London startup that’s built a developer platform to make it easy for fintech and other adjacent companies, such as retailers, to access bank APIs — and ride the Open Banking and PSD2 gravy train — has picked up further $7.5 million in funding. Leading the round is venture…

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…