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.

Payop Partners With Tink to Add Pay-by-Bank in Europe
Payop Partners With Tink to Add Pay-by-Bank in Europe
March 27, 2024  |  Partnerships

Payop and Tink partnered to promote the adoption of pay-by-bank as a payment method across Europe. Payop added Tink’s pay-by-bank offering to the eCommerce checkout options it offers...

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Banks Need to Copy eCommerce’s ‘Friction-Free’ Experiences
Banks Need to Copy eCommerce’s ‘Friction-Free’ Experiences
March 27, 2024  |  Banking

Eric Foust, VP of Banking Partnerships, North America at Trustly, said that in the wake of the pandemic, consumers are looking toward banks to deliver the...

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Banks Embrace the Digital Age to Become Financial Service Aggregators and Platforms
Banks Embrace the Digital Age to Become Financial Service Aggregators and Platforms
March 27, 2024  |  Banking

Jim McCarthy, CEO of Thredd, said in a recent interview that banks have to break down their walled gardens to give customers what they truly...

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Bank of America: Digital Evolution Demands ‘High-Tech and High-Touch’ Approach
Bank of America: Digital Evolution Demands ‘High-Tech and High-Touch’ Approach
March 27, 2024  |  Digital Banking

Rich Clow, managing director and head of innovation and strategy, Global Payments Solutions, Bank of America, told PYMNTS that omnichannel demands are pointing banks toward a...

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Bank Regulators Worry About Merger Systemic Risks, Banks About Fraud
Bank Regulators Worry About Merger Systemic Risks, Banks About Fraud
March 22, 2024  |  Banking

Michael Hsu, acting comptroller of the currency at the Office of the Comptroller of the Currency (OCC), recently voiced support for a new proposal by Federal Deposit Insurance...

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FinTech and Bank Partnerships Will Boost Open Banking in the US
FinTech and Bank Partnerships Will Boost Open Banking in the US
March 21, 2024  |  Banking

Dave Scola, CEO, U.S. at Form3, said the transformation of banking and financial services is demanding collaboration between traditional banks and digital upstarts. The most notable,...

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CFPB Head Puts Those Who Intend to ‘Weaponize’ Open Banking on Notice
CFPB Head Puts Those Who Intend to ‘Weaponize’ Open Banking on Notice
March 19, 2024  |  Banking

The U.S.’s top consumer protection watchdog is on the lookout for financial services industry players hoping to game open banking for their own benefit.  This...

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New Study Shows Big Gap Between Open Banking Interest and Use
New Study Shows Big Gap Between Open Banking Interest and Use
March 19, 2024  |  Payments Innovation

Open banking payments appeal to consumers. Nearly half of respondents in PYMNTS Intelligence’s latest study are highly willing to use them for at least one...

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Loyalty Apps Leverage Open Banking to Help Consumers Save More, Spend Smarter 
Loyalty Apps Leverage Open Banking to Help Consumers Save More, Spend Smarter 
March 18, 2024  |  Loyalty & Rewards

Despite a recent decrease in inflation rates, consumers remain cautious in their spending habits, wary of the economic uncertainties ahead.  In fact, the persistent concern over living...

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