Open banking

Leading Global Technology Group GLORY to Become Cornerstone Investor in UK-based Shared Bank Branch Innovator OneBanks

Retrieved on:

Wednesday, August 18, 2021

OneBanks has previously secured capital from angel backers including Rupert Pennant-Rea, former deputy governor of the Bank of England, and Baroness Bottomley, the former Conservative cabinet minister.

Key Points:

OneBanks has previously secured capital from angel backers including Rupert Pennant-Rea, former deputy governor of the Bank of England, and Baroness Bottomley, the former Conservative cabinet minister.
Anjum has over 20 years of global experience in banking technology solutions with a specific focus on helping drive the evolution of retail bank branches.
Also on completion, Jonathan Hughes, serial entrepreneur and investor in the fintech sector, will assume the role of Executive Chairman of OneBanks.
The use of OneBanks kiosks is intended to be free to customers, the cost being borne by participating banks.

Finastra and Salt Edge collaborate to provide a more personalized banking experience

Retrieved on:

Wednesday, August 18, 2021

LONDON, Aug. 18, 2021 /PRNewswire/ -- Finastra today announced its collaboration with Salt Edge to improve the speed of compliance with the Payments Service Directive 2 (PSD2) and other global Open Banking standards, for banks and Electronic Money Institutions (EMIs) worldwide. The integration of the Salt Edge Software-as-a-Service (SaaS) solution, Open Banking Compliance, with Finastra's core banking solutions, Fusion Essence and Fusion Equation, enables institutions to build the necessary architecture to support end-to-end banking requirements and compliance through one Application Programming Interface (API). The integration is carried out via Finastra's open development platform, FusionFabric.cloud.

Key Points:

The integration of the Salt Edge Software-as-a-Service (SaaS) solution, Open Banking Compliance, with Finastra's core banking solutions, Fusion Essence and Fusion Equation, enables institutions to build the necessary architecture to support end-to-end banking requirements and compliance through one Application Programming Interface (API).
Anand Subbaraman, General Manager, Banking at Finastra said, "Salt Edge has a proven track record of success with more than 100 API implementations for financial institutions globally.
Bringing Open Banking Compliance into our suite of core banking solutions makes compliance quick and seamless for both Finastra and Salt Edge customers, while giving them the tools to create better and more personalized products and services.
For the end user, the benefit is a much quicker, more secure and relevant banking experience that truly accommodates their needs.

Finastra and Salt Edge collaborate to provide a more personalized banking experience

Retrieved on:

Wednesday, August 18, 2021

The integration of the Salt Edge Software-as-a-Service (SaaS) solution, Open Banking Compliance, with Finastra's core banking solutions, Fusion Essence and Fusion Equation, enables institutions to build the necessary architecture to support end-to-end banking requirements and compliance through one Application Programming Interface (API).

Key Points:

The integration of the Salt Edge Software-as-a-Service (SaaS) solution, Open Banking Compliance, with Finastra's core banking solutions, Fusion Essence and Fusion Equation, enables institutions to build the necessary architecture to support end-to-end banking requirements and compliance through one Application Programming Interface (API).
Anand Subbaraman, General Manager, Banking at Finastra said, "Salt Edge has a proven track record of success with more than 100 API implementations for financial institutions globally.
Bringing Open Banking Compliance into our suite of core banking solutions makes compliance quick and seamless for both Finastra and Salt Edge customers, while giving them the tools to create better and more personalized products and services.
For the end user, the benefit is a much quicker, more secure and relevant banking experience that truly accommodates their needs.

Paysafe to Acquire SafetyPay

Retrieved on:

Monday, August 16, 2021

Paysafe (NYSE:PSFE) (the company), a leading specialized payments platform, today announced that it has signed a definitive agreement to acquire SafetyPay for USD 441 million in an all-cash transaction.

Key Points:

Paysafe (NYSE:PSFE) (the company), a leading specialized payments platform, today announced that it has signed a definitive agreement to acquire SafetyPay for USD 441 million in an all-cash transaction.
Further, with SafetyPay having established relationships with more banks in Latin America than any other payments provider, Paysafe will be uniquely positioned to capture share of the nascent open banking market by integrating further Paysafe services and solutions into the regions payments ecosystem including its digital wallet and gateway capabilities.
On completion of the deal, the SafetyPay team will transition into Paysafes expanding eCash and online banking solutions team which is headed up by Paysafe eCash CEO, Udo Mueller.
We are very excited to welcome SafetyPay into the Paysafe family.

Survey Reveals Only Half of Americans Have Ever Heard of Open Banking

Retrieved on:

Tuesday, August 10, 2021

A survey by global API Management leader Axway (Euronext: AXW.PA) reveals half of Americans have never heard of the term open banking, but 84% agree with its central tenet that they should have control of their financial data.

Key Points:

A survey by global API Management leader Axway (Euronext: AXW.PA) reveals half of Americans have never heard of the term open banking, but 84% agree with its central tenet that they should have control of their financial data.
Axway powers open banking implementations around the world on its Amplify API Management platform , and is currently deploying its first packaged product, built on Amplify, for open banking in Brazil .
Open banking is the solution to making sure traditional financial institutions and FinTechs can work properly and securely together.
Axway sees open banking as a strategic imperative as the world moves steadily toward an expanded financial ecosystem, as demonstrated by Europe and Australias open banking laws .

Financial Data Exchange Announces New Canadian Director

Retrieved on:

Thursday, July 29, 2021

Professional services, Data management, Other Professional Services, Technology, Software, Finance, Banking, FDX, Open banking, API

The Financial Data Exchange (FDX) today announced that it has hired Jason Chomik to serve as Director of its Canadian operations and to lead FDXs Canadian financial services ecosystem members in further developing the FDX API for use in Canada.

Key Points:

The Financial Data Exchange (FDX) today announced that it has hired Jason Chomik to serve as Director of its Canadian operations and to lead FDXs Canadian financial services ecosystem members in further developing the FDX API for use in Canada.
FDX has developed technical data sharing standards for use in open banking and open finance frameworks that empower consumers to better understand, leverage, and benefit from their own financial data and improve their financial lives.
The mission of FDXs Canada working group is to develop and adapt FDXs financial data sharing standards for the Canadian market and to cultivate a culture of collaboration, communication, and technical inclusiveness across the Canadian financial services ecosystem in development of the standards.
Chomik will also serve as FDXs primary executive in engagement with the overall Canadian financial services ecosystem, Canadian policymakers and regulators and other Canadian stakeholders.

Jack Henry Further Embeds Autobooks into the Banno Digital Platform for Better Small Business Banking

Retrieved on:

Wednesday, July 28, 2021

Finance, Money, Economy, Financial services, Open banking, Non-bank financial institution, Bank

Jack Henry announced today that the company has expanded its partnership with Autobooks to embed payment and invoicing capabilities into the Banno Digital PlatformTM .

Key Points:

Jack Henry announced today that the company has expanded its partnership with Autobooks to embed payment and invoicing capabilities into the Banno Digital PlatformTM .
With this partnership, Jack Henry is the first major financial technology provider to democratize receivables tools and make them a standard part of the digital banking experience.
This is a highly competitive addition for banks and credit unions, as non-bank providers attempt to disintermediate small business banking relationships from financial institutions.
Embedding fintechs like Autobooks within our open banking ecosystem empowers financial institutions to deliver better financial experiences and own their business relationships.

Brankas and Integra Partners jointly publish a guide on embracing open finance

Retrieved on:

Wednesday, July 28, 2021

Bank, Economic history of Italy, Open banking, Economy, Articles

SINGAPORE, July 28, 2021 /PRNewswire/ -- Brankas, Southeast Asia's Leading Open Finance technology company recently participated in a joint publication with Integra Partners, a venture capital firm based in Singapore to publish a white paper titled Embracing Open Finance in Southeast Asia. As financial institutions in Southeast Asia are discovering new digital-first commercial models and opportunities, boundaries of finance and core model of banks are challenged. This paper identifies the commercial opportunities and explores how banks and financial service providers can overcome these challenges.

Key Points:

SINGAPORE, July 28, 2021 /PRNewswire/ --Brankas, Southeast Asia's Leading Open Finance technology company recently participated in a joint publication with Integra Partners, a venture capital firm based in Singapore to publish a white paper titled Embracing Open Finance in Southeast Asia.
With open banking technology, open finance; permissioned data-sharing are enabled to service a wide range of financial products and services.
Key concepts and definitions of open finance are discussed in this paper, expanding to how banks can benefit from open finance.
Brankas partners with banks to build and manage their Open Finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more.

Brankas and Integra Partners jointly publish a guide on embracing open finance

Retrieved on:

Wednesday, July 28, 2021

Bank, Economic history of Italy, Open banking, Economy, Articles

SINGAPORE, July 28, 2021 /PRNewswire/ --Brankas, Southeast Asia's Leading Open Finance technology company recently participated in a joint publication with Integra Partners, a venture capital firm based in Singapore to publish a white paper titled Embracing Open Finance in Southeast Asia.

Key Points:

SINGAPORE, July 28, 2021 /PRNewswire/ --Brankas, Southeast Asia's Leading Open Finance technology company recently participated in a joint publication with Integra Partners, a venture capital firm based in Singapore to publish a white paper titled Embracing Open Finance in Southeast Asia.
With open banking technology, open finance; permissioned data-sharing are enabled to service a wide range of financial products and services.
Key concepts and definitions of open finance are discussed in this paper, expanding to how banks can benefit from open finance.
Brankas partners with banks to build and manage their Open Finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more.

Only 3% of Financial Services Firms Ready for Open Banking Deadline

Retrieved on:

Wednesday, July 28, 2021

Finance, Financial services, Economy, Open banking, Bank, ING Group, API, Mobile payments

The study also reveals that only 2% have met all their Open Banking requirements to date.

Key Points:

The study also reveals that only 2% have met all their Open Banking requirements to date.
Open Banking Application Programming Interfaces (APIs) could open up a whole new world for FS organisations, enabling them to use data to drive transformational services and power superior customer experiences.
Open Banking is widely seen as a way to encourage innovation and modernisation in traditional banking.
In addition, over half (51%) believe Open Banking will significantly or completely change how traditional financial services are delivered and consumed during the same period.