Open, an online-only banking startup that offers business banking solutions for startups and SMEs, has announced its plans to expand into the Middle Eastern market. The Indian company is the …
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5 ecosystem and B2B solutions for FinTech startups in Southeast Asia
The platform-based business model has taken hold in the digital economy, and the concept is quickly spreading to banking and financial services. This has resulted in companies springing up to …
Read More »Open banking in the UK: one year out
In January 2018, the United Kingdom (UK) launched open banking to improve the way finances in the UK are managed, borrowed, saved and invested. Now, more than one year on, …
Read More »Bankers expect open banking to increase profits 10-20%
According to a new study from Accenture, bankers expect that open banking will lead to a growth in revenue of 10-20%. This thought it bolstered by the fact that commercial …
Read More »3 key areas for a future with open banking
As open banking continues its path toward offering consumers greater financial products and services, it is interesting to consider what things are necessary for open banking to become the new …
Read More »Polish realities in a PSD2 Europe
A recent survey of the Polish banking sector concerning the Second Payment Services Directive (PSD2) of the European Union (EU) was published by KPMG. Specifically, the survey found that Polish …
Read More »8 in 10 millennials ready to switch away from banks
FinTech players and challenger banks are at the forefront of capturing the millennial market as 8 in 10 millennials now state that they are ready to switch from using banks …
Read More »73% of British SMEs don’t understand what open banking is
A survey of 1,000 small- and medium-sized enterprises (SMEs) carried out on behalf of iwoca (a leading British FinTech) found that nearly three quarters (73%) were unable to identify what …
Read More »Time for European banks to embrace open banking business models
Open Banking is making a significant impact upon the banking industry in Europe and encouraging more players to get involved in the financial services industry. In fact, newcomers have increased …
Read More »Open banking for the corporate sector
Recently, Accenture surveyed more than 650 businesses as well as 100 global banks to get their take on open banking for the corporate sector. The survey found that 77% of …
Read More »Banks for entrepreneurs
Today’s entrepreneurs are used to taking advantage of new and innovative solutions that automate operations and make doing business easier. As such, banking is an important consideration for them. While …
Read More »The ultimate winners of open banking
In the aftermath of the 2008 global financial crisis, European regulators found it important that banks have more competition and consumers have greater choice. This has eventually led to the …
Read More »The beginning of the open banking era in the UK
Open banking reforms are now over one year old in the United Kingdom (UK). In this relatively short period of time, 67 firms have begun using open banking technology. Moreover, …
Read More »Key security questions in an open banking ecosystem
While open banking represents a step forward for financial institutions, data and customer identity must remain the highest priority. In fact, the European Banking Authority (EBA) recently released new guidelines …
Read More »The brave new world of open banking in the Asia-Pacific region
Countries across the Asia-Pacific region have been quick to establish open banking frameworks following the rollout of open banking regulations in the United Kingdom and the European Union’s passage of …
Read More »Polish banks reluctant to embrace open banking
With open banking growing in popularity across the globe and the Second Payment Services Directive (PSD2) coming into full force, many Polish banks are reluctant to embrace open banking. Leaders …
Read More »Gates Foundation supports open mobile banking platform in Africa
Two of Africa’s largest mobile operators and mobile money providers (Orange Group and MTN Group) have announced they will use Mojaloop, an open source financial services technology sponsored by the …
Read More »Open banking to begin a new data economy in Australia on July 1
The Australian government has announced that it will begin phasing in recommendations from the Open Banking Review beginning on July 1, 2019. Once fully-implemented, open banking will give Australian consumers …
Read More »FinTech companies voice opposition to PSD2
A number of FinTech companies in the European Union (EU), namely Bankin, Eurobits, Sofort, PPRO and Trustl, have decided to oppose the Second Payment Services Directive (PSD2). These companies contend …
Read More »Isracard selects Temenos as its digital open banking platform
Isracard, the largest credit card company in Israel, has selected banking software company Temenos to serve as its open banking platform. Isacard’s selection of Temenos will help the company achieve …
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