Latest Open APIs News: Finextra Research

European Fintech Alliance raises bank API fears

The European Fintech Alliance has fired another broadside in its tussle with the financial services establishment over PSD2, raising fears that banks will develop substandard APIs as a way to fend off competition.

26 February 2018

News/Open APIs

Open Banking could boost UK GDP by £1 billion - Cebr

The introduction of Open Banking in the UK may contribute over £1 billion annually to the UK economy and support the creation of up to 17,000 new jobs, according to analysis by economics consultancy the Centre for Economics and Business Research (Cebr).

26 February 2018

News/Open APIs

ANZ prepares for Open Banking reforms with Data Republic stake

ANZ has taken a stake in Sydney-based startup Data Republic in preparation for the introduction of new rules governing the sharing of customer account data with third party firms.

26 February 2018

News/Open APIs

How Open Banking will blow core systems out of the water

Banks operating on legacy architecture will find it increasingly difficult to compete in an API-driven business environment, says Hans Tesselaar, executive director at BIAN.

26 February 2018

News/Open APIs

Bank of Ireland and Tsys prep open data hack

Bank of Ireland has joined forces with Tsys to host an open data hack, inviting coders to play with payment data sets for the chance to win cash prizes.

23 February 2018

News/Open APIs

First direct pilots artha app for marketplace banking

UK digital bank first direct has begun trialling an app that lets people see account information from all of their providers, as well as get money management tips and product suggestions - including from third parties.

22 February 2018

News/Open APIs

Degussa Bank connects with Giromatch for faster loan decisions

Germany's Degussa Bank is to use a white-labeled direct API-based connection to local fintech startup Giromatch to provide clients with faster loan decisions and flexible re-payment terms.

21 February 2018

News/Open APIs

Monzo opens API to spare change app Moneybox

Monzo has opened its API to Moneybox, enabling users to round up and invest the spare change from their everyday purchases.

20 February 2018

News/Open APIs

Santander InnoVentures joins $25m Roostify funding round

San Francisco-based digital lending platform provider Roostify has closed a $25 million Series B financing round joined by Santander InnoVentures, Cota Capital and Point72 Ventures.

15 February 2018

News/Open APIs

Chetwood Financial preps live launch on £150 million debt and equity investment

Chetwood Financial, a new UK challenger outfit founded by the former deputy head of HSBC's UK retail bank Andy Mielczarek and tech vendor veteran Mark Jenkinson, has secured its banking licence and a significant investment of £150m in debt and equity from Elliott Advisors to help it grow.

12 February 2018

News/Open APIs

Berlin Group publishes NextGenPSD2 framework

The Berlin Group, a European coalition of banks and payment processors, has published version 1.0 of its framework designed to give Third Party Providers (TTPs) API access to bank accounts in compliance with new regulations on freeing up customer data under PSD2.

09 February 2018

News/Open APIs

PSD2: A strategic game-changer with long-term impact

PSD2 will be a slow burn but the perfect opportunity for banks to define and build their digital transformation strategy, according to new research produced by Finextra, in association with CA Technologies

09 February 2018

News/Open APIs

Openwrks, Zopa and TrueLayer get into Open Banking groove

The UK's major banks are being shown a clean pair of heels by non-bank competitors in the Open Banking space, with new announcements by TrueLayer in tandem with Zopa, and Openwrks demonstrating the determination of third party providers to open up access to consumer account data.

09 February 2018

News/Open APIs

Australian Government moves to open up the banking industry

Australia has moved one step closer to implementing an Open Banking regime with the publication of a final Government report into the issue, accompanied by draft legislation to mandate comprehensive credit reporting.

09 February 2018

News/Open APIs

Mobile network giffgaff to use Open Banking rules to move into personal finance

Giffgaff, the mobile network run by Telefonica, is to use Open Banking rules to provide a personal financial management service to its users in the UK.

08 February 2018

News/Open APIs

Cybersecurity dominates EU Fintech Action Plan

Cybersecurity takes top billing in the European Union's upcoming Fintech Action Plan, with a draft emphasising efforts to improve cooperation and coordination between market participants and regulators.

06 February 2018

News/Open APIs

Macquarie leads Australian move to Open Banking model with first live deployment

Macquarie Bank is getting a head start on the Australian Government's push for Open Banking by sharing customer data feeds with Zip's personal financial management app Pocketbook.

31 January 2018

News/Open APIs

GoCompare opens up APIs to fintech firms

UK price comparison site GoCompare is opening up its APIs to fintech firms, letting them pump in anonymised transaction data for analysis.

31 January 2018

News/Open APIs

Yolt claims first connection to CMA9 bank under Open Banking shakeup

Yolt, the smart money management app owned by ING, has become the first third party provider to complete a successful connection with a CMA9 bank - Lloyds - under the new Open Banking system.

25 January 2018

News/Open APIs

Danske Bank makes open banking push

Danske Bank is embracing the open banking era, revamping its mobile app to let Nordic customers view data from their accounts with other providers.

24 January 2018