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Tag Archives: Open Banking

Sberbank registered 182 new domains

Early this year, Sberbank registered 182 domains having “sber” in the address (e.g. sber-medicine.ru, sber-fashion.ru and sbersale.ru). The mass registration of domains is part of Sberbank’s effort to develop an online ecosystem that meets consumer’s financial and non-financial needs. By 2020, Sberbank plans on transforming itself into a universal company …

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Russian banks’ tentative start with open APIs

As the Second Payment Services Directive (PSD2) becomes just another part of business in the European Union (EU), it is natural to wonder about the state of open APIs in Russia. In general, Russian banks seem wary about the possibility of using an open API to allow third parties to …

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Qiwi launches open API money transfer service

Qiwi has launched an open API money transfer service for its customers, giving users the chance to customize their own way of receiving funds. The new service makes it easier and safer for users to accept money transfers by removing the use of personal data from such transactions, instead using …

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PrivatBank launches open API platform

PrivatBank has launched a new open API platform to allow FinTech companies to create effective, innovative solutions that work with bank data and provide consumers with new digital services. The platform is currently available to FinTech companies in a “sandbox” mode, which provides test data to registered FinTechs. In the …

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The impact of PSD2 in Ukraine

With the implementation of the Second Payment Services Directive (PSD2) in the European Union (EU) and Ukraine’s relationship with the EU, it is natural to wonder about the implications of PSD2 in Ukraine. In fact, Ukrainian authorities are currently in discussions regarding the directive and its Ukrainian implications with donors. …

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Russian insurers, intermediaries discuss API integration

The Digital Tools for the Development of Insurance Product Partner Sales roundtable was held in Moscow, a first-ever discussion between insurance companies, intermediaries and IT experts in the country. The roundtable was held to discuss how API integration could be leveraged to: increase the speed of consumer integration into insurance …

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Kazakhstani banks embracing open APIs

Open APIs are starting to emerge as a trend in the market of IT solutions in Kazakhstan, with private banks actively exploring the potential of open APIs and the National Bank of Kazakhstan (National Bank) discussing how it will regulate open APIs in the financial sector. While awaiting regulations from …

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Personal data compromised through API vulnerability

The personal data of consumers who requested a loan and/or credit card from the now liquidated Binbank may have been compromised. The compromised data includes names, passport data, phone numbers and addresses. The data was compromised due to a vulnerability in an API mechanism. Moreover, it is possible that a …

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New platform makes financial products easier

A new platform called Goodfin now serves as a single access point for consumers looking for financial service providers such as banks and microfinance institutions (MFIs). Goodfin differs from similar platforms by actually using each bank/MFI’s business logic (through an API) with already filled in applications, as opposed to just …

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New open API to usher Malaysian FinTech into a new era

Bank Negara Malaysia has released a proposed guideline for open APIs in Malaysia and is currently seeking feedback from the public. Three areas of focus for the open APIs have been established as: automobile insurance, credit cards and SME financing. The main goals of this initiative are to improve access …

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New Zealand on the path to open banking

New Zealand is well on the path to open banking, with Payments NZ releasing the first API standards for payment initiation and account information. A pilot test for open banking and digital payments in the country was held in March 2018 by six partners (ASB, BNZ, Datacom, Paymark, Trade Me …

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India’s Federal Bank launches open banking platform

Indian-based Federal Bank has unveiled a banking platform that will allow FinTech companies to use its APIs for new products that integrate with its banking services. The creation of the platform is part of the bank’s efforts to improve digitization and automation as well as reduce manual overhead and errors. …

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Infographic: the evolution of open banking

TransUnion partnered with Forrester to research the changing financial landscape, particularly the value exchange of open banking. Take a look at this infographic to discover the opportunities that the evolution of open banking presents. Infographic: 10 biometric examples reshaping our world The future of cybersecurity in banking BFC FinTech Monitor …

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Video: PSD2 explained in 4 minutes

The Payment Services Directive 2 (PSD2) may be one of the most disruptive developments in banking and FinTech this decade. The new legal framework established has forced financial institutions to open their consumer data to third-party providers. Find out more in this short video about PSD2. Video: rise of the …

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Infographic: one year of open banking highlights

The Open Banking Implementation Entity took a look back at some of the highlights open banking implementation has achieved in the European Union (EU) over this past year. BFC takes part in E-commerce and FinTech Hackathon 2019 3 key areas for a future with open banking Video: revolutionizing customer onboarding

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Infographic: the changing landscape of payments

The Payment Services Directive 2 (PSD2) and other emerging payment initiatives such as Instant Payment are impacting the way payments are completed. They present an opportunity for merchants to upgrade consumer experiences while also improving the speed, convenience and security of payments. Kazakhstani banks embracing open APIs Video: what’s next …

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Infographic: future of banking survey results

A recent survey gives insights into what financial institutions think of the future of banking in the new open banking era. FinTech in a post COVID-19 world Video: 5 2020 financial intelligence trends New open API to usher Malaysian FinTech into a new era

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Infographic: Innopay’s Open Banking Monitor

With open banking changing the landscape of the banking industry, it is interesting to see how open various financial institutions are as well as what their level of experience in developing such innovative solutions is. Infographic: 7 ways blockchain can help the environment PSD2: a brief overview Video: data-driven technologies …

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Five FinTech trends that will define banking in 2019

The banking sector is becoming both more strategically focused and technologically advanced in order to respond to consumer expectations and try to defend their market shares. As such, the importance of innovation and developing new solutions that take advantage of data, advanced analytics, digital technologies and new delivery platforms has …

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