Open Banking

Open banking is a financial services term as part of financial technology that refers to: The use of open APIs that enable third-party developers to build applications and services around the financial institution. Greater financial transparency options for account holders ranging from open data to private data.
46% of US Consumers Say They’re Ready for Open Banking
46% of US Consumers Say They’re Ready for Open Banking
July 30, 2024  |  Digital-First Banking

As younger and affluent consumers drive the trend, open banking payments stand on the verge of widespread acceptance. This payment method, which allows users to...

READ MORE >
UK’s Open Banking Milestone: What 10 Million Users Mean for UK’s Financial Services Future
UK’s Open Banking Milestone: What 10 Million Users Mean for UK’s Financial Services Future
July 29, 2024  |  Banking

While open banking starts to gain traction in the U.S., across the pond the banking and payments sector is celebrating milestones. Last week it celebrated...

READ MORE >
NAB and Plenti Team on Pay by Bank for Loan Repayments
NAB and Plenti Team on Pay by Bank for Loan Repayments
July 24, 2024  |  Partnerships

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...

READ MORE >
FedNow’s First Year: Path to Critical Mass Requires Time and Education
FedNow’s First Year: Path to Critical Mass Requires Time and Education
July 24, 2024  |  Digital Payments

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...

READ MORE >
Open Banking Faces Challenges as Banks Urge Delay in New Data Rules
Open Banking Faces Challenges as Banks Urge Delay in New Data Rules
July 19, 2024  |  Bank Regulation

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...

READ MORE >
Cloud Security 101: Treasury Releases Essential Guidelines for FIs
Cloud Security 101: Treasury Releases Essential Guidelines for FIs
July 17, 2024  |  Cloud Banking

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...

READ MORE >
Banking Sector Seeks More Time on CFPB Open Banking Rule
Banking Sector Seeks More Time on CFPB Open Banking Rule
July 17, 2024  |  CFPB

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...

READ MORE >
Trustly Lays Out Vision for Open Banking at Retail
Trustly Lays Out Vision for Open Banking at Retail
July 16, 2024  |  Payments Innovation

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

READ MORE >
AI Unlocks Feedback Loop Between Payments Innovation and Customer Expectations
AI Unlocks Feedback Loop Between Payments Innovation and Customer Expectations
July 15, 2024  |  Payments Innovation

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...

READ MORE >