Industry news
Credit Kudos, challenger credit bureau and leader in commercial applications of Open Banking, announced they have raised £2.2m in their latest round of funding.
Gregory Pennington, one of the UK’s largest and longest established debt management companies, has integrated an Open Banking solution, provided by Equifax in partnership with AccountScore, into its annual customer review process.
The biggest bank in the Nordic Region has launched an Open Banking solution that enables corporate customers to access their accounts and integrate real-time data into their own systems and processes. The tool, named Instant Reporting, gives companies access to their accounts, balances and transactions and allows them to complement…
Norwegian bank Sbanken has selected payment solutions provider Nets to support its Open Banking journey across the Nordics and Europe. Nets’ single integration solution will give Sbanken access to account information in all banks in Norway and beyond through PSD2 APIs. This will enabling Sbanken to develop services for its…
Three challenger banks have been awarded grants totalling £280m to improve business banking for small and medium-sized enterprises (SMEs). Metro Bank, Starling and ClearBank have been awarded grants of £120m, £100m and £60m respectively by the RBS Alternative Remedies package. The money is part of a £775m fund backed by…
Fintechs are increasingly helping financial institutions attain their wholesale banking goals, but the relationship between the smaller firms and large company executives still needs work, a survey has claimed. Reducing operational costs is the way most banking executives cite fintechs enabling them to reach these goals, according to 87 per…
More than a fifth of businesses in the UK believe decision-makers have not grasped the value and opportunities offered by financial technology providers. In a survey of 500 chief executives, chief financial officers and managing directors of large and medium-sized companies, foreign exchange and payments business Centtrip found a gulf…
Nationwide has invested in a leading fintech, citing its aim to disrupt business banking by delivering “game-changing” customer service both on the high street and online. The building society, the world’s largest, has taken a minority stake in 10x Future Technologies. The fintech will work with Nationwide to deliver its…
Accounting technology group Sage has partnered with payments fintech Modulr to help clients improve their management of accounting and payroll payments. The deal means businesses will be able to process salary and supplier payments within Sage accounting and payroll products Sage’s. Seamus Smith, executive vice president of global payments and…
Interbank network Swift is opening its Know Your Customer (KYC) Registry to corporates, allowing them to exchange data and documents with banking partners, gain efficiencies and prevent duplication. From the fourth quarter of 2019, all of Swift’s 2,000 corporate groups will be able to join the KYC Registry, which already…
