BFC Bulletins Monthly News Digest

With open banking beginning to emerge as a new reality across the globe, it is no great surprise that banking consumers are also opening themselves up to participation in open …

The era of open banking is serving to divide financial institutions into groups based on fundamentally different roles. One of the main defining factors for which group a financial institution …

In the past, financial institutions prized a well-established brand as the ultimate goal for attracting consumers and maintaining consumer loyalty. In the digital and open banking age, however, consumers are …

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, …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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, …

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 …

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 …

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 …

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 …

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 …

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 …