Open banking

UK Unicorn Zilch extends Series C by $50m bringing total to $160m

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Thursday, June 30, 2022
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Zilch , the London-based double unicorn, today announced it has secured an additional $50m in funding, taking the total raise for its Series C to $160m.

Key Points: 
  • Zilch , the London-based double unicorn, today announced it has secured an additional $50m in funding, taking the total raise for its Series C to $160m.
  • The extension brings Zilchs total funding to more than $460m in debt and equity and sees the fintech company maintain its valuation.
  • In the last six months Zilch has leveraged its innovative, direct-to-consumer approach to double underlying sales and revenue.
  • Customers can pay on debit (with up to 2% instant cashback and rewards) or credit (pay-in-4) for no interest or late fees, anywhere.

Facilitating the Future of Open Finance: Nearly half of all large institutions in the finance industry have already adopted Open Banking

Retrieved on: 
Tuesday, June 14, 2022
Leadership, Privacy, App Store (iOS/iPadOS), Research, CEO, Partnership, Open banking, API, Organization, Technology, Compliance, Adoption, Online shopping

LONDON , June 14, 2022 /PRNewswire/ -- Nearly half (43%) of all large financial institutions have already adopted Open Banking according to a new report from API-driven identity management company Curity.

Key Points: 
  • New research from Curity shows nearly half of all large institutions in the sector have already adopted Open Banking, with nearly three-quarters (70%) planning to adopt in the next 18 months
    The ' Facilitating the Future of Open Finance ' report surveyed 200 global financial institutions and employees who are managing the Open Banking process.
  • Despite these significant drivers for the Open Banking initiative, the results also show some hesitation regarding its adoption.
  • Nearly all financial institutions (96%) believe consumer adoption is crucial to the future of Open Banking.
  • The Future of Open Banking is clear for financial institutions of all sizes if they are willing to embrace it.

Facilitating the Future of Open Finance: Nearly half of all large institutions in the finance industry have already adopted Open Banking

Retrieved on: 
Tuesday, June 14, 2022
Leadership, Privacy, App Store (iOS/iPadOS), Research, CEO, Partnership, Open banking, API, Organization, Technology, Compliance, Adoption, Online shopping

LONDON, June 14, 2022 /PRNewswire/ -- Nearly half (43%) of all large financial institutions have already adopted Open Banking according to a new report from API-driven identity management company Curity.

Key Points: 
  • New research from Curity shows nearly half of all large institutions in the sector have already adopted Open Banking, with nearly three-quarters (70%) planning to adopt in the next 18 months
    The ' Facilitating the Future of Open Finance ' report surveyed 200 global financial institutions and employees who are managing the Open Banking process.
  • Despite these significant drivers for the Open Banking initiative, the results also show some hesitation regarding its adoption.
  • Nearly all financial institutions (96%) believe consumer adoption is crucial to the future of Open Banking.
  • The Future of Open Banking is clear for financial institutions of all sizes if they are willing to embrace it.

EML Commissioned Research Finds 1 In 4 U.K. Merchants Predict Open Banking Payments Will Become The Most Popular Payment Method In The Next 5 Years

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Tuesday, June 7, 2022
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Nuapay (EML Payments Limiteds (ASX: EML) Open Banking business), has released new data revealing that 1 in 4 (25%) merchants predict open banking will become the most popular payment method amongst customers in the next 5 years.

Key Points: 
  • Nuapay (EML Payments Limiteds (ASX: EML) Open Banking business), has released new data revealing that 1 in 4 (25%) merchants predict open banking will become the most popular payment method amongst customers in the next 5 years.
  • View the full release here: https://www.businesswire.com/news/home/20220607005165/en/
    Nuapay reveals that 1 in 4 merchants predict open banking will become the most popular payment method amongst customers in the next 5 years.
  • When asked which payment methods had seen an increase in uptake over the last 2 years;
    35% called out open banking payments.
  • ''The survey results are encouraging, demonstrating a step change in merchant awareness and appreciation of open banking payments.

EML Open Banking Expands Into 20 New Countries To Complete Its Coverage Of Europe

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Tuesday, May 24, 2022
Professional Services, Data Management, Technology, Finance, Software, Banking, Open banking, Population, Multimedia, View, EMLE, API, E32, Money, ASX, SEPA, Direct debit, Credit transfer, Statista, Faster Payments Service, Technology, Motion, EML, Eurozone, Instant, CEO, Real estate, Online shopping, Bank

Nuapay (EML Payments Limited's (ASX: EML) Open Banking business), is now connected to banks in another 20 countries in Europe, becoming one of the first open banking operators to provide complete connectivity across the Eurozone and expand into Eastern Europe and non-Euro Nordics.

Key Points: 

Marqeta Adds Evolve Bank & Trust as Bank Partner to Expand Program Management Capabilities

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Thursday, May 19, 2022
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Marqeta (NASDAQ: MQ), the global modern card issuing platform, today announced the addition of Evolve Bank & Trust as a new bank partner to offer additional solutions for customers that take advantage of Marqetas full program management capabilities.

Key Points: 
  • Marqeta (NASDAQ: MQ), the global modern card issuing platform, today announced the addition of Evolve Bank & Trust as a new bank partner to offer additional solutions for customers that take advantage of Marqetas full program management capabilities.
  • As a bank partner for Marqetas platform in the U.S., Evolve will support the full range of Marqetas program management capabilities, including BIN management, on-demand fulfillment, compliance reporting and settlement services as a customer is guided through onboarding to launch a program in-market.
  • The addition of Evolve into the stable of bank partners that Marqeta has deployed allows Marqeta to find the best match for a customers specific needs, to streamline operations, and to ultimately derive more value for each customer program.
  • "We're looking forward to a partnership with Marqeta, who closely aligns with this mission, to deliver cutting-edge innovation to card programs."

ClearScore Becomes Significant Enabler of Open Banking in the UK With 1.5m Sign-ups

Retrieved on: 
Thursday, May 19, 2022
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This puts ClearScore as one of the largest enablers of Open Banking in the UK, in just six months.

Key Points: 
  • This puts ClearScore as one of the largest enablers of Open Banking in the UK, in just six months.
  • To support this rapid growth in Open Banking, the ClearScore Group is announcing a significant investment in Edinburgh, Scotland, to build an Open Banking centre of excellence.
  • Money Dashboard is a market leader in Open Banking data, with a leading technology stack and categorisation engine.
  • Founded in 2015, ClearScore has grown rapidly to serve 16 million users across the UK, South Africa, and Australia.

BNPL 2.0 Comes to America - Zilch Reinventing Installment-Payments Plans, With No Interest or Late Charges and Cashback Rewards

Retrieved on: 
Tuesday, May 17, 2022
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That enables Zilch to create a 360 degree picture of a customers affordability profile, and provide accurate, individualized spending recommendations.

Key Points: 
  • That enables Zilch to create a 360 degree picture of a customers affordability profile, and provide accurate, individualized spending recommendations.
  • Concurrent with its launch, Zilch, is partnering with Experian to pioneer reciprocal reporting of payment plans to the credit reporting agencys (CRAs) data set.
  • Zilch also gives what consumers say they value - cash back, which can be used to discount larger purchases, Belamant added.
  • Additionally, Zilch is Europes fastest-ever company to go from Series A to double unicorn status in just 14 months.

Trustly and Remote Partner to Align the Future of Finance with the Future of Work

Retrieved on: 
Thursday, May 12, 2022
Online, Open banking, ACH, Sequoia, PSD2, General Catalyst, SAN, Swedish financial transaction tax, Compliance, Index Ventures, Accel, Bank, Online shopping, Trustly, Remote

Remote empowers companies of all sizes to pay and manage employees and contractors around the world.

Key Points: 
  • Remote empowers companies of all sizes to pay and manage employees and contractors around the world.
  • Through the Remote platform, clients can onboard new employees in minutes, pay teams in their preferred currencies, offer benefits and stock options, and remain compliant with local taxes and regulations.
  • "At Remote, we are committed to continuously improving our robust and secure platform.
  • Remote closes the gap by enabling employers to hire anyone from anywhere, providing access to opportunity so people everywhere can build better lives.

Stylitics Expands Its Executive Leadership Teams to Accelerate Product and Vertical Expansion

Retrieved on: 
Monday, May 2, 2022
SRE, Intimidation, Vimeo, Open banking, PSG, NEW, CTO, Toy, Visual merchandising, Digital product design, Diapers.com, Founder CEO, CEO, Amazon, Product management, Disruptive innovation, Express, Children, Puma, The Children's Place, St. Simeon Stylites (poem), Robotic process automation, Software as a service, Concannon Vineyard, Kohl's, Software, Solution, Technology, VP, Tarte Cosmetics, Management, Retail, Online shopping, Blockchain, American Express

NEW YORK, May 2, 2022 /PRNewswire-PRWeb/ -- Stylitics, an innovator in visual merchandising and outfitting solutions for top brands and retailers, announced today Michael Concannon joins as Chief Technology Officer (CTO), and Theresa Cowing as VP of Product Management for E-Commerce and Personalization. The announcement comes one month after Stylitics raised $80 million in Series C financing wholly funded by PSG.

Key Points: 
  • The announcement comes one month after Stylitics raised $80 million in Series C financing wholly funded by PSG.
  • "We're delighted to welcome Mike and Theresa to our senior team to drive forward our ambitious and exciting product roadmap," said Rohan Deuskar, Founder & CEO, Stylitics.
  • Cowing comes to Stylitics from Tarte Cosmetics, where she was most recently Executive Director of Product Management and UI/UX, overseeing product and technology teams.
  • At Tarte Cosmetics, she built out the product management function, grew a team of product managers, worked with senior leadership to craft a customer-focused product strategy, and executed the resulting roadmap.