PYMNTS-MonitorEdge-May-2024

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.

New Fund Flows Outpace Card Growth as Payment Networks Eye Open Banking Opportunities
New Fund Flows Outpace Card Growth as Payment Networks Eye Open Banking Opportunities
February 02, 2024  |  Earnings

Beyond the debit and credit card issuance, beyond the consumer spending, the networks see growth ahead underpinned by new payment flows. The recent spate of...

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True Layer Teams With Worldline on Payments Orchestration
True Layer Teams With Worldline on Payments Orchestration
January 31, 2024  |  Partnerships

Open banking payments network TrueLayer is offering its products via Worldline’s payment orchestration platform. Beginning Wednesday (Jan. 31), Worldline Payment Orchestration merchants can enable TrueLayer’s payment products including Payments, Payouts...

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Mastercard and BOK Financial Expand Payments Partnership
Mastercard and BOK Financial Expand Payments Partnership
January 30, 2024  |  Partnerships

Mastercard has launched an expanded payments partnership with Oklahoma’s BOK Financial. The collaboration, announced Tuesday (Jan. 30), makes Mastercard the exclusive payments network for BOK’s debit and commercial portfolios,...

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Prometeo Co-CEO on What It Takes to Create Latin America’s Connected Financial Ecosystem
Prometeo Co-CEO on What It Takes to Create Latin America’s Connected Financial Ecosystem
January 22, 2024  |  Latin America

Open banking promises to forge new financial ecosystems as data is shared among banks, corporates and consumers. Easier said than done. Banks must be on...

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Journey From Screen Scraping to Open Banking More Marathon Than Sprint
Journey From Screen Scraping to Open Banking More Marathon Than Sprint
January 03, 2024  |  Bank Regulation

The movement to open banking here in the states will prove more marathon than sprint — with twists and turns along the way, with the...

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CFPB Data Rules Don’t Go Far Enough, TCH and BPI Say
CFPB Data Rules Don’t Go Far Enough, TCH and BPI Say
January 02, 2024  |  CFPB

Two financial industry groups say proposed consumer financial data rules don’t go far enough. The Clearing House Association and the Bank Policy Institute submitted recommendations...

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5 Things to Watch in Courts and on Capitol Hill that Will Impact Payments in 2024 
5 Things to Watch in Courts and on Capitol Hill that Will Impact Payments in...
December 20, 2023  |  Regulation

December’s on the way out. Congress is quiet, on recess until the beginning of next year. The Supreme Court’s not hearing arguments at the moment....

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Education and Regulation Define Real-Time Payments’ Inflection Point
Education and Regulation Define Real-Time Payments’ Inflection Point
December 20, 2023  |  Faster Payments

Instant payments have been available across the payments landscape for years. But what will it take for it to scale enough and successfully challenge the...

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Xero and Flinks Partner to Enhance Banking Data Access 
Xero and Flinks Partner to Enhance Banking Data Access 
December 18, 2023  |  SMBs

Xero, a global small business platform, has partnered with Flinks, an open banking firm, to enhance banking data access for small businesses.  This collaboration aims to...

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