Open Banking


Fintech funding round-up: 1 December 2017

Who doesn’t love a trilogy? Following on from the round-ups on Thursday (30 November) and Tuesday (28 November) here’s another slice of fintech funding action. Features Deposit Solutions, Hanson Robotics’ Sophia, and BNP Paribas Asset Management. Germany’s Deposit Solutions, an open banking platform for deposits, has closed an investment round of $20 million led by […]

FIS seeks API effect with Code Connect

FIS has unveiled Code Connect – an online gateway that allows its clients and third-party developers to access FIS APIs for use in developing and testing new solutions. With APIs more popular than free alcohol at a fintech conference, FIS joins the masses seeking to capitalise on the API fever. Code Connect includes more than […]

Token and Envestnet | Yodlee team up for open banking

Open banking platform provider Token has partnered with Envestnet | Yodlee, a data analytics platform, for payments and financial data aggregation. The partnership will use Token’s operating system, TokenOS, which offers PSD2 compliant payments and gives access to banks for third-party service providers, via an API. In addition, the deal will use Envestnet | Yodlee’s […]

Mobey Day Barcelona: disruption, money and forward thinking

This year’s Mobey Day continues with the consistent collaboration between banks, start-ups and fintechs. Focusing on the development of technology during a time of disruption, the biggest players drew attention to leading in future challenges and trends.

Starling Bank bolts to Yolt money app

Yolt, the money app backed by ING, has integrated with its first digital challenger bank, Starling Bank. Yolt says its aggregation functionality now enables Yolt users to view their Starling Bank account details and transactions alongside their other bank accounts, together in one place. Since launching in June 2017, Yolt states that its users have […]

Open banking: nothing personal

Financial authorities globally are promoting open banking. While it represents a shift in the mindset of traditional banks, Heather McKenzie, editor of Daily News at Sibos, finds they may be up to the challenge.

Daily News at Sibos 2017 – Day 3

Read our third Daily News at Sibos edition of the Sibos 2017 conference in Toronto – all the latest news and analysis from Swift’s premier event of the year. Free to read online or pick up a complimentary print copy if you are at Sibos!

BIAN unveils API-ready release to boost cloud banking ambitions

The Banking Industry Architecture Network (BIAN), a not-for-profit fintech industry body, has launched its latest release of its service landscape. Termed SL 6.0, the framework is designed to provide a “globally standardised and simplified” banking architecture structure, using a service-based architecture.

The race to meaningfully engage with customers is on

The disruptive threats that banks face today are well documented: fintechs, decentralised cryptocurrencies, distributed ledger technology and now the tech giants like Amazon, Facebook and Apple, to name a few. These players are all now placing themselves between retail banks and their customers, meaning that banks are not just competing with other banks anymore.

Sibos 2017 opening plenary: data is the new battleground

Welcome to Sibos 2017 in Toronto – bringing together 8,000+ delegates from 150 countries. And this year we have a new (or the vintage new?) theme: data. Not the “big data” though (that everyone was talking about a few Sibos conferences ago), but just data.

PSD2 – the tip of an Open Banking API iceberg?

It’s been over a year since I first blogged on the subject of open banking and it is fair to say, mainly driven through the regulatory pressures of PSD2 and the UK Competition and Markets Authority (CMA) led UK Open Banking initiative, that across Europe, much progress has been made in moving the banking industry to adopt APIs.

Temenos teams with MuleSoft to accelerate open banking

Banking software provider Temenos has teamed up with Mulesoft, a platform provider for building application networks. The move is intended to break down barriers to the open banking initiative by facilitating API connections, reports Julie Muhn at Finovate (Banking Technology’s sister publication). As a part of the partnership, Temenos will develop a core banking adaptor […]

HSBC UK takes first step into open banking

HSBC UK is taking steps in a new direction with its first foray into open banking. Starting with the introduction of a new testing platform, HSBC Beta, this allows HSBC to get its feet wet before diving in with a fully fleshed out app for customers in 2018. Still, the testing platform won’t be no […]

SunTec Xelerates its open banking ambitions

SunTec has unveiled its out-of-the-box open banking solution, offering preset configurations and definitions, through its Xelerate billing system. With the rise of open banking, SunTec wants to join the throng looking to prosper in a very competitive and crowded market. The firm says banks can use the layer to get business value from their APIs […]

Come over to my Marketplace says Starling Bank

UK-based challenger bank Starling has gone live with its Marketplace, a new ecosystem of financial products accessible through its app. As reported in June, Starling said it would launch Marketplace at some point. This idea was first discussed back in April, when its developer portal went live. Now the marketplace is alive and kicking and […]

The Monday mindset: 11 September 2017

Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week, Tim Rogers, engineer at London-based start-up GoCardless, asks do we need to kill screen scraping? If you work in this industry you’ll […]

Banks, are you a passive data donor or a proactive data seeker?

With the arrival of new regulations, there are two main options for banks: they can choose to become either “data donors” or “data seekers”. These two positions imply opposite approaches to the new banking market that is in prospect, and sharply contrasting mentalities.

Ping is king for Open Banking’s UK framework

Open Banking, the implementation entity set up by the UK’s Competition and Markets Authority (CMA), has chosen Ping Identity to provide the identity and access management (IAM) technology to underpin its UK framework. Ping’s IAM solution suite, the Ping Identity Platform, will provide the hub for Open Banking, where all UK banks and financial services […]

Nesta names 20 fintechs fired up for £5m SME innovation fund

UK-based innovation foundation Nesta has revealed the 20 fintech firms who will participate in its Open Up Challenge as it looks for services, apps and tools for SMEs – with a £5 million prize fund on offer. As reported in March, Nesta launched its challenge – open to entries from anywhere in the world that […]

Finxact unleashes Open Core API for sandbox playtime

Core banking software provider Finxact has made its Open Core API available through its sandbox for fun times in innovation. The firm says its API is transparent and granular, enabling banks to have full access to their customer data. Finxact adds that it is the first core banking provider to join the Open API Initiative. […]

UK watchdog reveals rules to fuel open banking

Open Banking, the implementation entity set up by the UK’s Competition and Markets Authority (CMA), has released its accounts and transaction information and payments initiation API specifications. The payments initiation API will enable third parties to set up secure payments on behalf of customers and, once authorised by the customer, submit the payment for processing. […]

Nordea flies higher with open banking pilots

Nordea Bank has pressed the accelerator on its open banking ambitions with the launch of pilots. As reported in March, the bank released the first version of its open banking portal targeted towards external developers, as it gets ready for the second Payment Services Directive (PSD2) requirements. At the time, it invited developers to sign […]

Danske Bank launches open banking beta

Copenhagen-based Danske Bank has unveiled its beta open banking service as it joins the fray for API-powered innovation. The bank says open banking is set to be the “most seismic shift in financial services since online banking” and it wants to tap into this market. Danske is looking to push on from its own banking […]

UK watchdog pushes hard on open banking plan

The UK’s Competition and Markets Authority (CMA) is ramping up its efforts for open banking within the nation’s retail banking scene. As reported in February, the CMA published its 766-page final report on the retail banking market and its open banking goals. At that time, it said it will offer overdraft users the opportunity to […]