Archive for September 2018

Differing speeds of adoption of Open Banking principles globally are not a cause for concern and will not necessarily lead to fragmented integration, industry figures have said. Some global banks and FinTechs have focussed on developing solutions in very different financial areas to their counterparts in the UK, which has previously prompted industry figures to…

Banks, you’ve been warned. About two-thirds of Amazon Prime members would try a free online bank account from the e-commerce giant, according to a report from consultant Bain & Co. That’s considerably higher than the percentage of regular Amazon customers (43 percent) or non-Amazon customers (37 percent) who would try an account, indicating strong loyalty…

Yolt, the smart thinking money app, has today announced it has become the first third-party provider (TTP) to successfully complete Application Programming Interface (API) connections under the new Open Banking regulation with nine of the biggest high street banks in the UK. Combined with challenger banks Monzo and Starling, there are now 18 banks connected…

Britain’s high street banks have taken very different pathways in embracing Open Banking. While some have partnered and innovated from day one, others are still cautious. So, which approach is likely to pay off in the long-term? Expo asks Olly Betts, CEO of Openwrks…     Which areas of the industry have seen the greatest…

Nationwide Building Society has allocated a further £1.3 billion to a five-year technology refresh, taking its overall spending target to £4.1 billion. The ramp up in spending comes as the institution saw 200 million more mobile app log-ins last year and the app now has two million active members – more than on internet, and…

Money management app Yolt has plugged Anorak into its platform, giving users access to personalised and impartial advice from the life insurance specialist. ING-owned Yolt is a free app that lets Brits view their bank accounts and credit cards in one place, promising to give them a real view of how much money they have,…

Open Banking Expo has today announced the appointment of two fintech heavy-weight speakers for its morning and afternoon keynote sessions. Google’s renowned former managing director is confirmed as the morning keynote, who will offer a unique insight on the future of Open Banking. Now MD, Fintech at Blenheim Chalcot, Dan Cobley has always been ahead…

Australian challenger bank Judo Capital has selected banking software company Temenos as its breaks into the country’s SME sector. Judo Capital is set to use the Temenos T24 Core Banking, Channels, Analytics and Financial Crime Mitigation solutions to to power its charge into the business banking sector. According to Temenos, the Temenos Cloud makes a perfect…

Taking advantage of the UK’s new Open Banking environment, Barclays has introduced a feature that lets customers view current accounts from several other banks within its mobile app. Customers who have a personal or business current account with Lloyds, Halifax, Bank of Scotland, RBS, NatWest, Nationwide or Santander can now choose to view their balances…

Banking is perceived to be a conservative industry, but necessity is now forcing the sector to seriously consider the opportunities presented by artificial intelligence (AI) and automated decision-making. On one level, the United Kingdom’s Competition and Markets Authority’s Open Banking revolution is really forcing banks to rethink how they use new technologies to engage with…