In one parameter, data show that 80% of USA consumers and 82% of Canadians use a payment or banking service connected to their primary accounts.
A new report by Dutch bank ING says 69 percent of consumers expect their bank to provide the latest technology...
As the date for open banking nears Banks and their digital only challengers are bracing for a new era of banking in Europe; writing an opinion piece in AltFi Lewis Hill of Instinctif Partners explains how digital only banks will need to explain their value proposition to the consumer to take advantage of the new rules; banks are still struggling with legacy technology and poor consumer ratings; the time is now for challengers to truly disrupt the incumbent players. Source.
In episode eight of PitchIt: the fintech startups podcast we talk with Railz Co-Founder & CEO Sohaib Zahid. Small business...
Tink raised €56 million in new funding in February and today it announced a further investment of €1o million from...
Mambu has launched a digital marketplace to offer cloud based apps, products and tools for banking; the company will allow for integrations to be done locally or globally; Ben Goldin, Mambu’s head of product and technology, tells Banking Technology, “the marketplace provides an opportunity to present their offerings to institutions and influencers with the Mambu engine powering a composable architecture”; current partners include Onfido, Form3, nCino, Avoka and Experian. Source.
The OCC released data sharing guidelines that have been met with mixed reviews, especially amongst fintechs and data aggregators; “I...
Open Banking, seen as a potential game changing regulatory change, is set to launch in the next few days in the UK; Open Banking requires banks to allow fintechs and other third parties to have access to customer data if the consumer agrees to grant access; the new law will allow for a safer data exchange, in the past consumers shared their login details and third parties scraped the data, and standardize access across the UK and Europe; while banks have pushed back on the coming change this will allow customers to better control their information and tailor services to their lifestyles. Source.
The firm is calling it the Plaid Portal and not explicitly tying the launch with a privacy settlement the firm reached on Friday, but the timing is close enough to call.
HSBC is looking to test the new app to help in preparation for the coming open banking regulations; the app will allow customers to look at all their accounts including loans from 21 different banks; Becky Moffat, head of personal banking and advice at HSBC, tells Banking Technology “Through our Beta app we want to give our customers a complete and joined-up view of their financial life.” Source.