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With Open Banking the transaction cost number drops from 8% to less than 1% of the payment processed.
The banking sector is “a natural starting point” for rolling out consumer data rights, according to the Minister of Commerce and Consumer Affairs.
The bank has expanded its API suite to support demand from corporate, commercial, and institutional customers for real-time payments and automated reconciliation.
The technology behind Pay-by-Bank “reduces the likelihood of unauthorized transactions” and “frees” billers and merchants from having to retain consumer banking information.
The digital-only bank will charge UK-based Nigerians a flat fee of £3 with a transfer limit of £10,000.
The Middle East and Africa (MEA)-focused financial services platform plans to expand its reach across the region.
Charlotte Crosswell OBE, chair and trustee of the OBIE, will step down from her role when her contract expires.
Olga Shikhantsova, a partner at European venture capital fund Speedinvest, writes about why, no matter the macroeconomic outlook, there’s always an opportunity for fintechs to shake things up.
It has become the first central bank-regulated Open Finance platform in the MENA region, where Open Finance is forecast to grow to $11 billion by 2027.
The ethical lender, which launched its first affordable credit product this year, has received investment from the founders of Monzo and Starling Bank, among others.
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