Industry news
Nordea takes a major step by extending Open Banking to Sweden. This gives developers the possibility to begin building applications designed for both Finnish and Swedish customers. “We see open banking as a huge opportunity to create better financial solutions”, says Casper von Koskull, CEO of Nordea. Nordea’s Open Banking…
As a serial entrepreneur, regulatory adviser, corporate consultant and investor, Dr Louise Beaumont has seen the evolution of the banking sector from all angles. As co-chair of the Open Banking & Payments Working Group, techUK, she spoke to Open Banking Expo about the challenges facing the sector and who she…
Banks with operations in the brokered mortgage, secured lending and debt management markets are being urged to adopt a universal format for sharing and accepting customer data. Senior industry figures acknowledge that banks have become better at sharing affordability data, but are frustrated that banks’ broker systems will not accept…
ING Ventures has invested €7.5m in Cobase, a fintech start-up, which provides a single point of access to all bank accounts and other financial products and services. Cobase is a multibank platform that helps international customers in handling different bank accounts by providing payments, cash management and treasury services, all…
More data can help you to perform a detailed assessment of a person’s creditworthiness. As well as bank account data, potential new complementary data sources include government data and rental data. Find out more about what Open Banking and other alternative data sources can provide in Experian’s latest white paper.…
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…
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…
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…
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…
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 –…
