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In other central bank digital currency news, the Federal Reserve Bank of Boston’s joint research effort with the Massachusetts Institute of Technology (MIT) into a potential CBDC has come to an end.
The findings from the Axway 2022 Open Everything Strategy Survey Report revealed organisations have upped their API budgets over the past couple of years.
The deal to buy Underlie, which builds Open Banking APIs, consolidates Fintech Galaxy’s expansion in the region.
Delivering a customer experience that is “better than the established brands” and is “friction free” will help lenders succeed, according to panellists from Experian, Allica Bank, Funding Xchange and Starling Bank, during an Open Banking Expo live debate on the future of lending.
TrueLayer’s Jack Wilson said “the waiting continues”, as an update from HM Treasury, the CMA, PSR and FCA revealed the Strategic Working Group’s final report has been delayed until January.
The partnership with Mastercard’s Open Banking platform gives the bank’s customers a new way of repaying retail finance loans.
An Open Banking Expo live panel debate, in association with Equifax, heard from lenders about using Open Banking to lend to customers who would traditionally have been considered thin file or credit invisible.
UK-based Cobalt is United Fintech’s fifth acquisition since 2020.
The specialist lender has become the first UK bank to do so, following Hinckley & Rugby Building Society in September, with more lenders and conveyancers to transact remortgage cases using PEXA’s platform next year.
Abhishek Sinha, partner at EY Canada, talked about “the Great Convergence” as he moderated the last Open Banking Expo Canadian meetup of 2022.
