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.

Equifax UK Debuts Tariff Connect for Utility and Telecom Providers
Equifax UK Debuts Tariff Connect for Utility and Telecom Providers
November 07, 2024  |  Digital Onboarding

Equifax UK has introduced a customer onboarding solution for utility and telecom firms. As Fintech Finance News reported Thursday (Nov. 7), the new tool, called...

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What Lies Ahead for the CFPB as Trump 2.0 Takes Shape?
What Lies Ahead for the CFPB as Trump 2.0 Takes Shape?
November 06, 2024  |  Regulation

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...

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Rule 1033 Explained: How the CFPB’s Data Sharing Standards Could Reshape Banking
Rule 1033 Explained: How the CFPB’s Data Sharing Standards Could Reshape Banking
November 05, 2024  |  Regulation

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 —...

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AWS and Plaid Advance the Business Case for Open Banking and Pay by Bank
AWS and Plaid Advance the Business Case for Open Banking and Pay by Bank
October 29, 2024  |  Payments Innovation

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...

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J.P. Morgan’s Dimon Says Banks Must ‘Fight Back’ Against Regulators
J.P. Morgan’s Dimon Says Banks Must ‘Fight Back’ Against Regulators
October 28, 2024  |  Bank Regulation

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....

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Synapse BaaS Platform Slated for Bankruptcy Sale
Synapse BaaS Platform Slated for Bankruptcy Sale
October 27, 2024  |  Connected Economy

 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...

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Banks’ Suit on CFPB Rule 1033 Predicts Private-Public Sector Clash on Open Banking
Banks’ Suit on CFPB Rule 1033 Predicts Private-Public Sector Clash on Open Banking
October 25, 2024  |  Regulation

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...

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Embedded Finance Finds New Use Cases From Gig Economy to Nonprofits
Embedded Finance Finds New Use Cases From Gig Economy to Nonprofits
October 25, 2024  |  Payments Innovation

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...

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How Open Banking is Enabling Better Embedded Finance Customer Experiences
How Open Banking is Enabling Better Embedded Finance Customer Experiences
October 24, 2024  |  Financial Inclusion

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...

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