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.

Open Banking Acceptance Varies Across Generations
Open Banking Acceptance Varies Across Generations
December 18, 2023  |  Disbursements

Open banking is on the rise. By enabling the sharing of customer financial data between banks and third-party service providers through application programming interfaces (APIs),...

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Mastercard and Brim Financial Partner on Credit Card Infrastructure
Mastercard and Brim Financial Partner on Credit Card Infrastructure
December 06, 2023  |  Partnerships

Mastercard and credit card-as-a-service company Brim Financial formed a partnership. The tie-up aims to modernize credit card infrastructure in the United States and power innovation...

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Connectivity Defined the Past Decade — Interoperability Will Shape the Next
Connectivity Defined the Past Decade — Interoperability Will Shape the Next
December 04, 2023  |  Innovation

A decade ago, in 2013, Amazon counted around a thousand robots across its fulfilment warehouses. That same year, tech giant Google spent more on headcount...

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Algorand Foundation Invests in Afghanistan’s HesabPay
Algorand Foundation Invests in Afghanistan’s HesabPay
December 01, 2023  |  Cryptocurrency

The Algorand Foundation has made a strategic investment in HesabPay, an interoperable digital payments platform in Afghanistan that uses the Algorand blockchain. The investment was revealed at the...

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CFPB Handles 20,000 Consumer Complaints Per Week
CFPB Handles 20,000 Consumer Complaints Per Week
November 30, 2023  |  CFPB

The Consumer Financial Protection Bureau (CFPB) sends 20,000 complaints to companies for responses every week. “I am proud of the CFPB’s work in getting consumers...

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Bank Data Silos Need Breaking for Open Banking to Succeed
Bank Data Silos Need Breaking for Open Banking to Succeed
November 22, 2023  |  Digital Banking

Serena Smith, chief client officer at i2c, told PYMNTS that the shift to faster payments and open banking will spur financial institutions to take a...

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Plaid Hires Ex-Adyen Exec to Expand Open Finance in Europe
Plaid Hires Ex-Adyen Exec to Expand Open Finance in Europe
November 21, 2023  |  Personnel

Plaid has named former Adyen executive Brian Dammeir to oversee its European operations. Speaking to CNBC Monday (Nov. 20), he said the thing that excited him most about joining the...

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Bold Commerce Integrates Link Money’s Pay by Bank Solution
Bold Commerce Integrates Link Money’s Pay by Bank Solution
November 16, 2023  |  Payment Methods

Bold Commerce, a checkout company for omnichannel retailers and direct-to-consumer (DTC) brands, has partnered with Link Money, an open banking payment platform, to enhance payment options...

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1 in 3 Consumers Would Use Online Bank Transfers for Rewards
1 in 3 Consumers Would Use Online Bank Transfers for Rewards
November 10, 2023  |  Loyalty & Rewards

Online bank transfers, also known as pay-by-bank transfers, can be used to pay recurring bills and are the third most frequently used for this purpose...

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