Open Banking

Australian bank NAB has launched a collaboration with FinTech lender Plenti. The partnership, announced Wednesday (July 24), lets Plenti’s customers make faster loan repayments via NAB’s pay-by-bank offering PayTo. “Plenti is the first NAB business customer to ...

A year after its launch, the FedNow® Service, the instant payment service introduced by the U.S. central bank last July 20, has seen 900 banks sign up and connect to the ...

Open banking, as it emerges more fully in the United States, promises to bring personalized services and products to customers, expanding financial access. Data underpins the joint efforts of traditional financial ...

Today’s digital landscape has transformed the operational calculus for financial institutions (FIs) and corporations. And with the news Thursday (July 17) that the U.S. Department of the Treasury and the Financial ...

The banking industry wants more time to comply with a new rule governing consumer financial data. The open banking regulation in question is the Consumer Financial Protection Bureau (CFPB)’s “Proposed Required ...

Open banking at retail — at the point of checkout — has the advantage of lowering the costs below traditional credit and debit options. Christina Potter, head of eCommerce at Trustly, ...

All the innovation in the world changes nothing if it fails to meet the needs of end-users. And against a backdrop where expectations around payments convenience, speed, security and, increasingly, personalization ...

Great Britain’s digital sector is reportedly seeing its slowest job growth in a decade. As Bloomberg News reported Thursday (July 11), this has led the incoming Labour government to promise to revitalize the ...

As regulators draw a bead on neobanks, traditional financial institutions are acting more like neobanks. Open banking looks set to transform financial services in the United States, and the approach, in ...

As open banking takes root in the United States, the role of application programming interfaces (APIs) will become more widely known and appreciated. That’s one of the predictions and insights ...

Australian Banking Association (ABA) CEO Anna Bligh said its “time to go back to the drawing board” when it comes to the country’s open banking rules. Bligh said this in a Wednesday ...

There’s the payment and then there’s everything that happens around it. That’s why financial services companies, from insurance to FinTechs to enterprise-grade banks, add services to protect, analyze and optimize ...

Now that the Labour Party’s been ushered into power in the U.K. — in a landslide vote — what’s next for open banking in the United Kingdom? New Prime Minister Keir ...

Swedish tech firm Lenovo is offering open banking at checkout via a partnership with Trustly. The collaboration, announced Wednesday (July 3), is open to Lenovo customers in the U.K. and continental Europe, providing them with an ...

Payments orchestration platform Gr4vy has expanded its partnership with open banking payments firm Trustly. The extended collaboration, announced Tuesday (June 25), will bring Gr4vy’s services to Europe, and follows an earlier partnership in the U.S. last ...

Without education, awareness, or utility, any innovation will find it hard to scale. Fortunately for open banking, which allows consumers to securely connect to their bank accounts to pay merchants and ...

It’s said that imitation is the sincerest form of flattery. If that’s the case, payments industry veteran and Trustly Inc. CEO Alex Gonthier should feel quite validated these days. While he ...

Consumer Financial Protection Bureau Director Rohit Chopra took note during his Wednesday appearance before the Senate Banking Committee that companies including PayPal and JPMorgan are monetizing customers’ financial data — ...

Consumer Financial Protection Bureau Director Rohit Chopra is set to testify on Capitol Hill this week. He is scheduled to appear before the Senate Banking Committee Wednesday (June 12) and the ...

Open banking’s success in the United States — as with any ecosystem — will hinge on several factors, none guaranteed. But, with lessons learned from abroad, and with an incrementally clearer ...

Mastercard will add new open banking-powered solutions that make it easier for consumers to automatically switch their direct deposits and update their recurring bill payments. These capabilities will result from the ...

In the move to solidify the framework for open banking, the field for just who will help set the standards is wide open. News came Wednesday (June 5) that the Consumer ...

The Consumer Financial Protection Bureau (CFPB) has taken another step in its push to accelerate open banking. The U.S. consumer watchdog on Wednesday (June 5) announced it had finalized a rule ...

The CEO of Swedish FinTech Trustly says going public is not yet on the company’s radar. Speaking to CNBC Thursday (May 30), Johan Tjarnberg said that although his company just recorded a 51% increase in operating profit, ...

In an era of rapid technological advancement, there remain certain immutable aspects — particularly for payments. When it comes to the way businesses and consumers transact, speed, security and convenience are ...

The FICO score — what we might think of as the general “shorthand” for lending — was created back in 1989. In the decades since, and now as we’re on the ...

There’s no shortage of evidence showing that digital payment methods are nearing a tipping point. As PYMNTS Intelligence and the Federal Reserve have reported, consumers and businesses are accelerating their use of digital ...

Stripe has debuted an open banking-powered payment method and faster manual payouts in the United Kingdom. In addition, the company has expanded Stripe Capital to the U.K., the company said in a Tuesday (May ...

Reading the Thursday (May 16) Supreme Court ruling upholding the constitutionality of the Consumer Financial Protection Bureau’s funding mechanisms — and ensuring the agency’s survival — takes one through centuries of history. All the way back to ...

Dwolla and Visa have partnered to make it easier for mid- to enterprise-size businesses to use pay-by-bank to pay and get paid. With this collaboration, Visa’s open banking solutions are integrated ...

VantageScore unveiled a new credit-scoring model that uses both traditional credit data and alternative open banking data. The combination gives lenders a predictive lift of up to 10% compared to the VantageScore ...

Aplazo has raised $70 million in equity funding, including a $45 million Series B, to continue building its omnichannel payment platform. The Mexico-based company will also use artificial intelligence (AI) to ...

Experian has launched a solution designed to further inform lending decisions and expand access to credit. The new Cashflow Attributes uses open banking insights from more than 900 income, cash flow ...

Embedded lending may gain new consideration at the point of sale as cash-strapped consumers grapple with the pain of emergency expenses. And it may help them pay for at least some ...

Back in October, the Consumer Financial Protection Bureau (CFPB) made public a new rule about data and data sharing. And it wasted no time signaling the intent behind it. In a press release issued Oct. 19, the ...

The rise of open banking and FinTechs is changing the fabric of financial services. Data sharing and pacts between traditional financial institutions and digital-only innovators promise to bring innovation to the ...

Open banking is empowering consumers and the businesses they work with to adapt amid uncertainties, Trustly founder and CEO Alex Gonthier writes in the new PYMNTS eBook, “The Implications of ...

The digital transformation of banking continues to reshape how financial institutions (FIs) are meeting the evolving expectations of consumers. And central to this evolution are partnerships, which play a pivotal ...

Open banking, the legal framework permitting secure data sharing amongst financial institutions (FIs) and third-party FinTechs to enhance the products and services they offer consumers, has proven to be popular ...

Trustly launched a payments partnership with games company Light & Wonder. The collaboration is designed to bring cashless, in-person deposits to casino floors using Light & Wonder’s RAPIDPLAY solution, according to a Wednesday ...

Traditional wealth management services often involve face-to-face interactions with financial advisors, extensive paperwork and opaque fee structures, making the process daunting for many potential investors. However, the digital age has brought ...

Embedded banking firm ClearBank is reportedly planning to expand into Europe and the U.S. Charles McManus, the British firm’s CEO, told Bloomberg News Thursday (April 4) that the company has applied ...

FinTech infrastructure firm Brim Financial has raised $85 million in a Series C funding round. “This funding will accelerate Brim’s growth and fuel our international expansion,” Rasha Katabi, CEO and founder of Brim Financial, said in ...

Shadi Saifan, vice president of engineering at NCR Voyix, told PYMNTS in an interview that bridging the gap between the promise of open banking and making that promise a reality is ...

Dwolla has expanded its partnership with MX Technologies to help enterprises manage money movement. The company’s recently launched open banking services include bank verification and balance check capabilities powered by MX’s instant account verifications ...