Posts by Newsdesk

Atom Bank and Newcastle University have set aside three years to conduct research on trust in financial services and how companies can design better digital banking services. The UK’s first bank built exclusively for smartphones and tablets is embarking on a million-pound project with computer science, psychology and banking experts to understand why customers distrust…

Online lender iwoca is reporting that it has successfully released Open Banking for all new customers with a Lloyds Bank account. iwoca says it is the first ever business lender to connect with any of the UK’s nine largest banks under the Open Banking initiative, launched in January 2018. The UK has been the leader…

Following the UK banks’ ambitious move towards open banking, fintech hubs across the globe have been following suit, leading to a banking revolution that could fast-track the development of fintech—particularly fintech based on personal wealth and spending habits. With Singapore’s authorities taking keen note of this trend, it is no wonder that Finastra named Singapore…

Equifax, the consumer and business insights expert, announces the latest development in its partnership with consents.online, integrating Equifax Bank Account Verifier into the Open Banking journey. The new solution means identity information such as the consumer’s name, address and date of birth, can for the first time be matched with transaction data provided through Open…

As a bank that has built its entire reputation on customer service, First Direct is taking a different view to some of its competitors when it comes to Open Banking. Commercial Director Nick Harrison explains the strategy to Open Banking Expo…   Q:         What does First Direct consider to be the opportunities from Open…

A report from the House of Commons Treasury Committee released today explained how hopes were still high for Open Banking adoption within the SME finance space, but urges more ambition.   Open Banking has the potential to bring significant benefits for SMEs seeking finance. Its impact on the market to date, however, has been muted.…

Virtusa Corporation (NASDAQ GS:VRTU), a global provider of digital strategy, digital engineering, and IT outsourcing services, that accelerates business outcomes for its clients, today announced its collaboration with the Banking Industry Architecture Network (BIAN) to launch BIANs API Exchange. BIANs API Exchange, developed collaboratively by a group including Virtusa, BIAN member banks, and IT businesses, is…

Spanish banking group BBVA has announced it is to partner with a fintech investor to find and fund start-up businesses in the UK. The new partnership with Anthemis Group will see the bank deploy capital and resources to building businesses that “address untapped user needs and attract the best fintech entrepreneurs”, it said in a…

IBM is looking to cash on the open banking era, launching a platform designed to bridge the gap between legacy systems and the API future while helping banks meet new regulatory requirements such as PSD2. Open Banking has emerged as one of the hottest areas in financial services, driven by new rules in Europe and…