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The industry body for UK fintech has released a new anti-fraud strategy that sets out how to harness technology via data sharing to improve collaboration.
The Financial Conduct Authority made the commitment in its new five-year strategy, in which it set out four priority areas.
American Express conducted research on the impact of payments processes on business growth among 500 decision makers at UK businesses.
Capital on Tap and GoCardless have been working together since 2014.
Through the new partnership, driven by Mastercard’s Open Banking technology, Virgin Money credit card customers will be able to view their accounts and balances in one place.
Speakers from Lloyds Banking Group, Monzo and NatWest Group were at CFIT’s ‘Fighting Economic Crime through Enhanced Verification: Coalition Showcase’.
Pay by Bank transactions grew 75% in the UK last year, according to Token.io’s chief executive officer Todd Clyde.
The regulators made the announcement as part of the next steps for UK Open Banking.
The new platform, Credit Health, combines credit report and Open Banking data.
Lloyds Bank, NatWest, ClearBank, CFIT, Monzo and Innovate Finance took part in the panel debate ‘Driving payments modernisation in an Open Banking era’ at Open Banking Expo UK & Europe last month.
