Industry news
The technology is already being deployed and implemented by regional banks.
Banks and financial services firms must adopt a shift in mindset from viewing non-standard ID as an obstacle into an opportunity, writes Harry Hughes of the Lending Standards Board.
Ozone API, Open Future World and UK Finance have partnered to host the hackathon from 13 September for four weeks, to test potential use cases that VRPs can deliver.
The new product will give online sellers access to flexible revenue-based repayment loans of between £1,000 and £50,000.
FlexiPay has been designed to help small businesses manage cash flow, with those approved able to immediately access between £2,000 and £30,000.
The fintech, which uses Brazil’s new means of payment Pix, has partnerships with over 220 retailers.
Lynx has been developed with technology partners IBM and SIA, and overseen by the Bank of Canada.
The Financial Data Exchange reported that more than 1 million additional consumer accounts per month have transitioned to the FDX API since April for open finance data sharing.
Part of the London Stock Exchange Group (LSEG) Labs network, the new unit is supported by the Monetary Authority of Singapore.
The partnership will help Italian consumers to manage utility bills, switch suppliers and save money.
