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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…
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…
