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.

UK’s CMA Clarifies Variable Recurring Payments to Foster Open Banking
UK’s CMA Clarifies Variable Recurring Payments to Foster Open Banking
March 15, 2022  |  Bank Regulation

In July 2021, the U.K. Competition and Markets Authority (CMA) mandated the use of variable recurring payments (VRPs) as a mechanism to allow the automatic...

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From Open Banking to Open Finance: The Scottish Roadmap 
From Open Banking to Open Finance: The Scottish Roadmap 
March 14, 2022  |  Banking

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EU Data Strategy May Facilitate Open Finance in Europe
EU Data Strategy May Facilitate Open Finance in Europe
March 11, 2022  |  Regulation

Since 2016, the European Commission has been designing a data strategy that aims to facilitate companies’ access to vast amounts of data they couldn’t access...

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CFPB Could Find NIST an Ally for Open Banking
CFPB Could Find NIST an Ally for Open Banking
March 10, 2022  |  CFPB

The National Institute of Standards and Technology (NIST), a non-regulatory agency of the U.S. Department of Commerce, on March 3 closed a public consultation on...

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Visa Closes Deal to Acquire European Open Banking Platform Tink for $2B
Visa Closes Deal to Acquire European Open Banking Platform Tink for $2B
March 10, 2022  |  Acquisitions

Visa has finalized its deal to purchase Tink, the Sweden-based open banking platform, for $2 billion, according to a Thursday (March 10) press release. Get...

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UK’s Payment Strategy Focuses on Fraud Detection, Instant Payments
UK’s Payment Strategy Focuses on Fraud Detection, Instant Payments
March 10, 2022  |  International

The United Kingdom continues developing its New Payment Architecture (NPA), which will allow financial institutions (FIs), payment providers and other players to access a new...

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State Governments Move to ACH as Checks No Longer Cut It for Consumers and Businesses
State Governments Move to ACH as Checks No Longer Cut It for Consumers and Businesses
March 09, 2022  |  Faster Payments

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Today in FinTech: Stax Joins Unicorn Club; PPRO Acquires Alpha
Today in FinTech: Stax Joins Unicorn Club; PPRO Acquires Alpha
March 08, 2022  |  Fintech Investments

In today’s FinTech news, minority-led startup Stax hits unicorn status, while PPRO aims for a bigger Asia Pacific (APAC) presence with the purchase of Alpha...

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NCR Buys Intellectual Property to Advance Open Banking
NCR Buys Intellectual Property to Advance Open Banking
March 08, 2022  |  Acquisitions

NCR Corporation, a global enterprise technology provider, has purchased FinTech intellectual property for open banking from Canada-based Spoke Technologies, NCR announced Tuesday (March 8). Terms...

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