Industry news
Digital banking technology provider Crealogix has published a market research report suggesting that many banks aren’t doing enough to learn about their customers, which it argues will lead to reduced customer loyalty. The UK retail current account market has seen an influx of new competitors offering increased personalisation and other new…
Financial services leaders say finding the right partners is a major challenge As the first anniversary of Open Banking and PSD2 arrives, a report from law firm TLT finds that partnerships will be key to winning the race to launch successful open banking products. However, the report also finds that…
Virtusa, a global provider of digital strategy, digital engineering, and IT outsourcing services that accelerates business outcomes for its clients, announced today the successful implementation of the Middle East region’s first Open Banking Sandbox with Emirates NBD, a leading banking group in the UAE. The Open Innovation Platform, developed by…
Volante Technologies Inc., a global provider of software for accelerated end-to-end payments processing and financial message integration, today announced that Bank Leumi (UK) has selected VolPay Open Banking to implement PSD2 compliance and enable open banking business models. Bank Leumi (UK) is a specialist and relationship bank based in the…
Nordea is launching Instant Reporting, a new Open Banking solution that enables corporate customers to access their own accounts and integrate real-time data with their own systems and processes. It is the first offering from Nordea that moves beyond legal requirements in PSD2 and turns Open Banking into a commercially…
Plaid, a US fintech that enables consumers to connect their bank accounts to other financial services providers through application programming interfaces (APIs), has acquired Quovo, a similar startup, per a blog post. Although financial details have not been disclosed, Plaid is said to be paying around $200 million for its…
Specialist lender Bluestone Mortgages has launched a pilot phase of its open banking solution as part of its core underwriting process. Bluestone says it is the first specialist mortgage lender in the UK to incorporate Open Banking. The pilot will be rolled out to a select group of advisors on Bluestone’s…
TrueLayer will now offer Deutsche Bank, Sparkassen, Commerzbank and other major German banks direct access to financial data following the first international move for the European API provider. Ahead of the one year anniversary of Open Banking, the company’s Data API will ensure that businesses can minimise cost and the…
IATA has launched a new payment system through which an instant direct payment can be made to airlines for flights, making the process safer and faster. IATA has announced the successful completion of the first ‘IATA Pay’ ticket purchase transaction in a live test environment. The transaction was conducted in…
TransUnion (formerly Callcredit), the global risk and information solutions provider, has launched an Open Banking early adopter programme after receiving permission to operate as an Account Information Services Provider (AISP) from the Financial Conduct Authority (FCA). Following extensive testing and consultation with a range of clients across a number…
