Latest Open banking News: Finextra Research

The Credit Thing delivers first live consumer VRP transaction in the UK

Thin file lender The Credit Thing is claiming the first live consumer Variable Recurring Payments (VRP) transactions in the UK.

19 May 2022

News/payments

GoCardless wins first VRP customer

GoCardless has snagged its first Variable Recurring Payment customer, Nude, the savings app for first-time buyers.

17 May 2022

News/payments

Open banking payments firm Token seals $40 million raise

Token, an open banking platform driving the shift from card to account-to-account bank payments in Europe, has raised $40 million in a Series C funding round co-led by Cota Capital and TempoCap.

13 May 2022

News/retail

Yapily to acquire German rival finAPI

Open banking connectivity firm Yapily is to acquire German open banking provider finAPI from credit bureau Schufa.

10 May 2022

News/payments

Plaid accuses Stripe of underhanded tactics over new open banking product

Shots were fired over Twitter last night, as Plaid CEO Zachary Perret accused Stripe of dishonestly obtaining valuable information which it then leveraged to launch its new open banking product, Stripe Financial Connections.

05 May 2022

News/cloud

Temenos Community Forum 2022 theme announced

As media partner for the Temenos Community Forum, Finextra can reveal the theme for the first in-person event Temenos has held in three years.

05 May 2022

News/payments

UK BNPL unicorn Zilch prepares for US launch

Ahead of its imminent launch in the US, London based fintech Zilch has joined the Financial Technology Association (FTA) in order to prioritise innovation through responsible products and services.

04 May 2022

News/payments

EBAday 2022: Anticipating the European Commission’s PSD2 review

Open Banking is set to receive its first ‘school report’ from the European Commission this year, setting out how the second Payment Services Directive (PSD2) is performing, along with consideration of progress being made toward Open Finance.

29 April 2022

News/payments

TrueLayer unveils VRP API

TrueLayer has unveiled a recurring payments api capable of dealing with both sweeping and non-sweeping use cases.

26 April 2022

News/payments

UAE grants open banking licence to Tarabut Gateway

Tarabut Gateway, a Bahrain-based open banking platform, has been granted a licence to provide payment services to and from the Dubai International Finance Centre (DIFC).

22 April 2022

News/retail

Shawbrook offers lending discount for consumers sharing open banking data

UK specialist lender Shawbrook Bank is using Open Banking technology from ClearScore to assess the creditworthiness of potential customers and offering a discount on loans for those who share their data.

19 April 2022

News/regulation

Salt Edge develops TPP Verification product

Open banking platform Salt Edge has developed an on-the-fly mechanisim for banks to verify the bona fides of third-party providers trying to access users’ account data.

06 April 2022

News/startups

Open insurance startup Insurely raises €19 million; signs deal with SEB

Insurely, a Swedish fintech startup that uses open banking data to help insurers personalise premium offers, has signed SEB as a flagship customer.

06 April 2022

News/regulation

UK watchdog takes on card schemes

The UK's Payment Systems Regulator (PSR) has put the card schemes on notice that it is investigating their fees and how to help merchants get better deals, including by promoting the alternative of account-to-account payments.

01 April 2022

News/payments

Klarna launches open banking business unit

Buy now, pay later giant Klarna has set up an open banking sub-brand and business unit, helping firms connect to its network of thousands of banks across Europe and the US.

31 March 2022

News/wholesale

NextGen Nordics: Danske Bank announces Trade AI app

Ahead of our NextGen Nordics conference on the 27th of April 2022, we will be putting together a weekly briefing of selected top stories that are emerging out of the region and setting the blueprint for payments innovation across Denmark, Finland, Iceland, Norway, and Sweden.

25 March 2022

News/regulation

CMA unveils recommendations for future of Open Banking

The Competition and Markets Authority (CMA) has announced a new committee – the Joint Regulatory Oversight Committee (JROC) – to oversee the continued rollout of Open Banking in the UK, among other recommendations.

25 March 2022

News/payments

Mastercard rolls out open banking payments tools

Mastercard has unveiled a pair of open banking tools designed to improve predictability and transparency in digital account-to-account payments for merchants.

23 March 2022

News/regulation

CMA writes to Barclays and Lloyds over open banking API breaches

The UK's Competition and Markets Authority has written to Barclays and Lloyds about a series of failures to make accurate and comprehensive data on its products and services available through open APIs.

21 March 2022

News/regulation

CMA clarifies definition of VRPs for Sweeping

The UK's Competition and Markets Authority has move to clarify what Sweeping can and cannot be used for when it is introduced later this year.

15 March 2022