There is no standard for data sharing between banks and fintechs which often results in screen scraping; this leads to concerns around data security and is also an inefficient way to gather data; the Financial Services Information Sharing and Analysis Center released an updated version of their recommendations around data sharing called the Durable Data API specification; this could eventually become the standard adopted by the industry; American Banker compares this to PSD2 in the UK and shares more about the new specification. Source
Tink is an open banking platform enabling connections between banks and other institutions; the new financing comes after a €56...
In the past some fintech companies and financial aggregators have accessed JP Morgan customer data by using user’s passwords; JP...
Yapily offers an open banking API that serves all sorts of enterprises including financial service providers, merchants, accountancy firms, payments...
The UK government has added TrueLayer to its Payment Acceptance Framework meaning it can now provide payments for goods and...
Japanese banks are looking at digital payments due to a recent regulatory change which may bring in more competition; the law will be introduced in phases which makes it easier for depositors to give third parties access to both their accounts and data; it is part of a government push to reduce high cash use in the country; Projects around QR codes, blockchain and digital currencies are currently in the works. Source
Back office banking infrastructure needs updating; fintech companies and banks want to work with companies that can provide a customizable,...
Akoya is currently Fidelity’s data-sharing arm but now will become its own company, owned by Fidelity, The Clearing House and...
Ron Shevlin writing in Forbes gives his perspective on Plaid’s launch of Plaid Exchange or PX; According to the press...
Leading UK digital bank, Revolut, is bringing its open banking data aggregation feature to its one million Irish customers; the...