Industry news
Even though it’s early days for open banking there are already plenty of trailblazers offering new services, writes Huw Davies. From forex to rental accommodation, personal identification to loyalty schemes, many customer experiences are starting to be transformed by the effects of Europe’s Second Payment Services Directive (PSD2) just months…
The UK’s vote to leave the EU not only raised many doubts about London’s continued reign as the global fintech leader, but also certain concerns about the country’s continued regulatory alignment. However, as the main driver for PSD2 is technological and not political, the UK decision to follow a development…
Qatar Islamic Bank UK plc (QIB) has selected Volante Technologies’ VolPay Channel: Open Banking and Token to implement PSD2 compliance for the bank. Building upon Volante’s partnership with Token who provide PSD2 compliant APIs, VolPay Channel: Open Banking will deliver a complete out-of-the-box solution for handling complex orchestration related to…
EBA Clearing subsidiary Preta has signed up 40 banks and tech firms to Open Banking Europe, an initiative launched in June last year to create a centralised PSD2 directory. With the backing of major European banks, Open Banking Europe is seeking to address regulatory concerns about the interoperability of bank…
With more and more EU banks completing the inevitable process of opening up their data to third parties, an Open Banking payment hub becomes a logical necessity. So in response to the market demands, the fintech firm Salt Edge has set up an Open Banking payment infrastructure, which is now…
The New Zealand government are considering Open Banking options for New Zealand customers. Open banking involves consumers choosing to share their banking data to access new or improved products or services. This could include financial or budgeting advice, dashboards that display a range of financial information in one place, more…
The Canadian Government has established an Advisory Committee on Open Banking to explore the potential and pitfalls of a regime which would give consumers the ability to share their financial data with third parties. Announced as part of the federal budget in 2018, the four-person Committee will be tasked with…
SIA has unveiled its new open banking digital platform as it looks to work with Italian and European banks, fintechs, corporates, SMEs and public sector organisations for payment services. Speed, innovation, ambitionWith the introduction of Payment Services Directive 2 (PSD2) very much in mind, SIA wants to create an “ecosystem”…
Leading Identity and Access Management Platform Provider Reaches Key Testing Milestone as It Completes Open Banking Conformance Tests LONDON, 26 September 2018 — Ping Identity, the leader in Identity Defined Security, today announced the successful completion of 70 technical security tests set by Open Banking Ltd. These tests allow…
Born in a sea of hype on January 13, Open Banking has so far fallen short of delivering the promised financial revolution. We have yet to see any “killer apps”, dramatic changes in consumer behaviour, sudden doses of competition or tectonic shifts in the UK banking market. Mandated by the Competition…
