Open banking

News/payments

UK sets out National Payments Vision

The UK Government has published its National Payments Vision (NPV), vowing to cut through the "regulatory congestion" facing the sector to deliver a world-leading ecosystem.

15 November 2024

News/devops

UK Chancellor proposes pension and sustainable finance reforms

UK Chancellor Rachel Reeves detailed the financial services strategy launching in March 2025, which will focus on bolstering growth, developing fintech and sustainable finance sectors.

15 November 2024

News/payments

BNZ acquires open banking fintech BlinkPay

Bank of New Zealand has acquired Māori open banking fintech BlinkPay.

07 November 2024

Finextra TV/payments

Open Banking - Payment Method or Payment Solution?

In a conversation with FinextraTV, Moshe Winegarten, Chief Revenue Officer at Ecommpay, and Todd Clyde, CEO of Token.io, discuss the future of open banking and the evolving payments landscape. The discussion highlights a global shift towards instant payments in 84 countries and the consolidation of payment service providers (PSPs). Open banking emerges as a cost-effective and faster alternative to traditional card payments, which it is predicted to replace. The interview also addresses challenges like payment discrimination and the need for localised virtual accounts to improve acceptance rates. As account payments grow, building the necessary infrastructure and forging partnerships will be critical to support this shift and optimise payment success rates.

29 October 2024

News/regulation

CFPB faces lawsuit over new open banking rules in bank pushback

The Bank Policy Institute and Kentucky Bankers Association have filed a lawsuit against the Consumer Financial Protection Bureau, alleging that the regulatory agency overstepped its authority on the release of new open banking rules

23 October 2024

Finextra TV/Sibos

How Will New Technologies Shape the Future of Payments?

In an interview with FinextraTV in the lead-up to Sibos 2024, Pilar Fragalà, Chief Commercial Officer of CBI, explores the impact of digital technologies and regulations on payment services. Highlighting the role of AI, APIs, and blockchain in enhancing security and speed, while PSD2 and PSD3 drive open banking and consumer protection, the discussion focuses on innovations like embedded finance and instant payments that offer transparency and flexibility. Addressing growing fraud risks, the interview examines how technology can prevent fraudulent transactions by verifying IBAN and beneficiary details in real time.

23 October 2024

News/regulation

US moves to 'open banking' with Personal Financial Data Rights final rule

Consumers in the US will be given the right to instruct their banks to transfer their financial data to other institutions, under new open banking rules devised by the Consumer Financial Protection Bureau.

22 October 2024

News/retail

Mastercard unveils open banking 'command centre'

Mastercard has unveiled a set of tools designed to make it easy for people to manage how they share their financial data with third parties.

22 October 2024

News/payments

Worldline moves into account-to-account payment market

Worldline is seeking to futher diversify its payment offerings with the launch of account-to-account payment services across ten European markets.

17 October 2024

Research/Open bankingFuture of Report

The Future of Payments 2025 – Digital, Instant, Profitable?

17 October 2024 1060 downloads