Open Banking

As Donald Trump retakes the reins of power, the uncertainty over who occupies the White House is over. Republicans are retaking the Senate, and the House is still up for grabs ...

The Consumer Financial Protection Bureau’s finalized rule on data sharing has its share of supporters and detractors. Those in favor of the new mandates — and as described by the CFPB ...

It’s still premature to say that open banking and pay by bank have truly arrived in the U.S. However, with the Consumer Financial Protection Bureau (CFPB) issuing the final Rule ...

Jamie Dimon, CEO of J.P. Morgan Chase, the largest bank in the United States, said Monday (Oct. 28) that his colleagues should fight against overregulation. He said the industry is saddled ...

 The assets of bankrupt Banking-as-a-Service (BaaS) provider Synapse are going up for sale next month. B Riley Advisory Services, the group handling the sale, announced Friday (Oct. 25) a pair of ...

The Consumer Financial Protection Bureau released its final rule on data-sharing Tuesday (Oct. 22). But the issue is far from over. The battle between banks and the CFPB over what is commonly ...

As we head into the fourth quarter of arguably the most innovative year in payments since the pandemic, the liberation of capital is emerging as the story of the year. Money ...

As one of the hottest trends in payments, embedded finance has emerged as a compelling credit proposition for consumers and businesses. The execution demands an intricate web of collaboration and technology ...

Banking-as-a-service (BaaS), as a business model, promises to reshape financial services. And a drumbeat of regulatory actions and continued scrutiny from a veritable alphabet soup of regulators promises to reshape ...

Pay-by-bank solution provider Dwolla is expanding its partnership with data network Plaid. The companies will integrate Plaid’s instant account verification and risk assessment tools into Dwolla’s pay-by-bank platform, according to a ...

The last thing that a merchant wants is to see a consumer or business customer go through the process of identifying the product or service that they want and get ...

The Bank Policy Institute and the Kentucky Bankers Association filed a lawsuit Tuesday (Oct. 22) challenging the Consumer Financial Protection Bureau’s (CFPB) final rule on data sharing that was unveiled ...

The goal of the Consumer Financial Protection Bureau’s final rule on data sharing unveiled Tuesday (Oct. 22) is to promote competition and, by extension, financial services innovation. But a deeper reading ...

The Consumer Financial Protection Bureau (CFPB) swung for the fences this morning (October 22) as it issued the final version of its long-awaited Rule 1033 on personal financial data rights. As ...

Oct. 20, 2009. The United States was starting to see daylight out of the darkness of the worst financial crisis since the great depression. The Wall Street Journal reported that companies ...

Mastercard introduced a tool that lets consumers control the sharing of their financial data. Connect Plus is a “data command center” that lets consumers determine how, where and with whom their ...

Embedded lending options are proving to be critical lifelines for individuals and the smallest businesses — particularly in an uncertain macro environment marked by relatively high interest rates. “Many times in ...

The promise of open banking is to foster a range of new products and services as banks link with FinTechs to use customer-permissioned data to tailor what they offer. Within open ...

Visa-owned open banking platform Tink wants to give consumers a better view of transactions. The company on Tuesday (Oct. 1) launched “Merchant Information,” a solution that provides users with a more ...

Today’s businesses exist and operate across a connected global landscape. Advances like instant payments and real-time data integration are becoming the norm, which puts pressure on multinational companies and commercial banks ...

Demand for seamless, real-time financial information is driving a shift in banking. This shift, driven by technological advancements and global trends including open banking and embedded finance, has set a higher ...

The Consumer Financial Protection Bureau (CFPB) is inviting public comments on the first application from an organization seeking recognition as an open banking standard-setter. The application from Financial Data Exchange (FDX) ...

Banks and financial institutions (FIs) face challenges in balancing the convenience of digital banking with the need for robust security measures. Economic impacts from fraud have forced these institutions to ...

PNC Financial Services Group and Plaid have partnered to allow the bank’s customers to more securely share their data with third-party financial apps and services. With the companies’ new bilateral data ...

As open banking begins to reshape the financial landscape, the promise of enhanced consumer experiences and innovative services looms large. But a PYMNTS Intelligence report, “Can Banks and FinTechs Bridge the ...

Open banking, which allows third-party providers to access banking data through secure application programming interfaces (APIs), has gained momentum globally as a means to enhance financial services. Recent U.S. regulatory ...

British banking providers have completed their Roadmap for Open Banking. That’s according to an announcement Monday (Sept. 9) from Open Banking Limited (OBL), which had gotten confirmation on the completed roadmap from the ...

Trustly and Newline by Fifth Third have teamed up to facilitate money movement in the United States. This collaboration brings together Trustly’s open banking payments and Newline’s embedded payments platform, the ...

Nova Credit has launched a partnership with data access network Akoya. The collaboration, announced Wednesday (Sept. 4), is designed to help lenders employ cash flow and income analytics for better credit ...

Financial infrastructure and integration technology company PortX is launching Fintech Hub on AppMarket from Fiserv. PortX, which offers integration-platform-as-a-service (IPaaS) to financial institutions, said in a Wednesday (Sept. 4) news release that ...

There’s moving money and then there’s money mobility. One represents the current state of how money moves in and out of accounts. The latter is the cornerstone of today’s announcement ...

Open banking platform Tarabut has acquired British account-to-account (A2A) business payments platform Vyne. The deal, announced Tuesday (Sept. 3), is designed to strengthen Tarabut’s ability to offer faster and more accessible and interconnected financial services in ...

Cue the Beach Boys and Jimmy Buffett. It’s the last week of summer, and while a lot of the banking and payments world was on vacation, we were busy covering ...

Within an open banking environment, advances like pay by bank are transforming money movement. At its core, pay by bank allows consumers to make payments directly from their bank accounts, bypassing ...

As the regulatory gaze sharpens on FinTechs, the companies themselves are mindful that they need new tools and a new approach to operations, in order to stay on the right ...

Great Britain’s payments regulator has taken another step in its variable recurring payments (VRP) project. In December, the Payment Systems Regulator (PSR) put forth a “call for views,” which included proposals ...

Mastercard is upgrading its open banking for lending program, powered by employment/income verifier Argyle. The new features, announced Tuesday (Aug. 13), lets Mastercard offer income and employment coverage to the estimated ...

Open banking payments firm Trustly says it has seen a surge in transaction value. The company announced Tuesday (Aug. 13) that it processed 13.1 billion pounds ($16 billion) in payments in the U.K. between ...

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 complete transactions directly from their ...

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 ten million active users. Is ...

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 is the first NAB business customer to ...

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 up and connect to the ...

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 the joint efforts of traditional financial ...

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 of the Treasury and the Financial ...

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 Financial Protection Bureau (CFPB)’s “Proposed Required ...