Latest Open banking News: Finextra Research

Visa launches open banking with Tink in the US

Visa has launched open banking in the US, using technology from recently acquired Swedish vendor Tink.

25 April 2024

Company update/payments

Splitwise to offer Pay by Bank with Tink

Splitwise, a popular app for sharing bills and expenses, and Tink have partnered to bring Pay by Bank to Splitwise users.

25 April 2024

News/security

Mastercard harnesses AI to take on scammers

Mastercard is tackling the growing threat of scams through the launch of an AI-based product suite and several cross-industry partnerships.

25 April 2024

News/payments

NextGen Nordics 2024: Nordics can look outwards for new instant payments approaches

In the first panel of NextGen Nordics 2024, Finextra’s head of content Madhvi Mavadiya moderated the session: ‘Instant payments – how to prepare for RIX-INST on TIPS and the benefits of starting with Swish’.

23 April 2024

Company update/retail

JROC invites feedback on the Future Entity for UK open banking

The Joint Regulatory Oversight Committee (JROC) has today published proposals for the future open banking entity (the Future Entity).

23 April 2024

Company update/retail

Fintech Galaxy taps FinbotsAI for credit scoring and risk assessment

Fintech Galaxy, a leader in Open Banking and financial innovation, has launched innovative credit profiling capabilities in collaboration with Singaporean fintech company FinbotsAI using artificial intelligence models and aggregated Open Banking data.

23 April 2024

News/markets

NextGen Nordics 2024: NPC promoting innovation and harmonisation in the Nordics

NextGen Nordics, Finextra’s annual payments event, kicked off on April 23 2024 in Stockholm, Sweden, bringing together an array of experts and leaders in the Nordics payments industry.

23 April 2024

News/payments

UK Finance develops model clauses for variable recurring payments

UK Finance has teamed up with law firm Addleshaw Goddard to put together a set of model clauses that bank account providers and PSPs can use in variable recurring payments (VRPs).

23 April 2024

News/payments

UK Smart Data Roadmap unveiled

The UK government has published its Smart Data Roadmap laying out its plans for smart data schemes across seven sectors, including banking and finance.

19 April 2024

News/inclusion

Wagestream raises £17.5m

Financial wellbeing app Wagestream has raised £17.5 million in a funding round joined by a British Business Bank subsidiary.

19 April 2024

News/regulation

Blair Institute sets out 'progressive vision' for fintech

If it wins the upcoming UK general election, the Labour party must harness the fintech sector as an engine for economic growth, opportunity and inclusion across the country, says a report from the Tony Blair Institute for Global Change.

18 April 2024

News/regulation

Canada set for open banking legislation

The Canadian government has promised open banking legislation by the end of the year and confirmed that the Financial Consumer Agency of Canada (FCAC) will oversee the new system.

17 April 2024

Finextra TV/inclusion

Everybody in the room: Moving fintech forward

Lou Smith, Chair of Innovate Finance, discusses fintech's evolution in the past decade and its impact on consumer behaviour and industry collaboration. From challenger banks to widespread fintech app usage, we examine transformative trends like Open Finance, and amidst the challenges 2024 brings both nationally and internationally, we highlight opportunities for sustainable growth, charting a course towards fintech's fruitful future.

17 April 2024

News/retail

CFIT advances open finance pilots for consumers and SMEs

The UK Centre for Finance, Innovation and Technology (CFIT) is to build two working prototypes of open finance applications for providing financial advice to vulnerable consumers and to speed up credit assessments for SME loan applications.

17 April 2024

News/retail

Innovate Finance sets out Open Finance roadmap

Building on open banking to enable wider data sharing across financial services products including savings, mortgages and insurance, could unlock an extra £30.5 billion GDP a year for the UK, says a paper from Innovate Finance and KPMG.

15 April 2024

News/regulation

UK government announces open finance task force

Bim Ofolami, UK government Economic Secretary to the Treasury, has announced the formation of an open finance task force during a speech at ifgs 2024.

15 April 2024

Company update/retail

Atto and Fico help UK lenders integrate open banking data into credit scoring process

Atto, a leading provider of credit risk solutions using transactional data, is thrilled to announce a strategic partnership with Fico, a global analytics software leader, for the UK market.

10 April 2024

Company update/payments

SurePay joins Temenos API exchange programme

SurePay today announced that the SurePay solutions will be available via the cloud-based Temenos Exchange partner ecosystem.

10 April 2024

News/predictions

Embedded Finance market to be worth $22bn by 2028

The market for embedded finance is forecast to grow by 148% over the next five years, according to a recently published study.

02 April 2024

Company update/startups

Fintech Innovation Lab New York names 2024 class

Ten emerging technology companies have been selected to participate in the 2024 FinTech Innovation Lab New York, a 12-week program founded and run by Accenture and the Partnership Fund for New York City that helps early- and growth-stage fintechs accelerate product and business development through in-depth engagement with top financial services and venture capital executives.

28 March 2024