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.

Fiserv Forges Data-Sharing Partnership With Plaid
Fiserv Forges Data-Sharing Partnership With Plaid
October 12, 2023  |  Partnerships

Payments and financial services technology provider Fiserv and data network Plaid launched a data-sharing partnership. The collaboration lets customers of Fiserv-hosted banks and credit unions...

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CFPB Director Calls for Stronger Data Protections
CFPB Director Calls for Stronger Data Protections
October 06, 2023  |  CFPB

Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB), has reportedly expressed concerns about the potential risks posed by payment systems that enable excessive surveillance and...

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Brite Raises $60 Million to Expand Instant Payments
Brite Raises $60 Million to Expand Instant Payments
October 04, 2023  |  Investments

Swedish FinTech Brite Payments has raised $60 million to expand its instant payment offering. The funding round, announced Wednesday (Oct. 4), was led by Dawn Capital along with a...

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Weavr to Close Its Recently Acquired Open Banking Payments App
Weavr to Close Its Recently Acquired Open Banking Payments App
October 02, 2023  |  B2B Payments

London-based embedded finance provider Weavr has said it will close its open banking payments app, Comma. The company acquired the app in March and will close...

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Europe Offers Lessons for Open Banking’s US Merchant Payments Path
Europe Offers Lessons for Open Banking’s US Merchant Payments Path
October 02, 2023  |  Payment Methods

According to Link Money CEO Eric Shoykhet, open banking in the United States is taking shape but needs some education in the mix to reach...

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Apple Adds Open Banking-Powered Capabilities to iPhone Wallet in UK
Apple Adds Open Banking-Powered Capabilities to iPhone Wallet in UK
September 29, 2023  |  Apple

Apple has reportedly soft launched an iPhone Wallet app integration that provides users in the United Kingdom with their current account balances and transaction histories. This...

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Visa Canada Appoints Sam Fuda to Head Commercial and Money Movement
Visa Canada Appoints Sam Fuda to Head Commercial and Money Movement
September 12, 2023  |  Personnel

Visa Canada has announced the appointment of Sam Fuda as the new vice president, head of commercial and money movement (CMS), Canada. Fuda succeeds Jim Filice in this role, Visa...

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Real-Time Payments Pave Way for Further Adoption of Platform-as-a-Service Models
Real-Time Payments Pave Way for Further Adoption of Platform-as-a-Service Models
September 12, 2023  |  Payment Methods

Steve Cook, chief technology officer at Form3, said in an interview with PYMNTS that the Platform-as-a-Service model is seeing a tailwind from the rise of...

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Multi-Factor Approach Protects Banks From Fraudsters Seeking Vulnerabilities
Multi-Factor Approach Protects Banks From Fraudsters Seeking Vulnerabilities
September 12, 2023  |  Cybersecurity

Caitlin Sinclair, director of proposition development, financial crime at GIACT, an LSEG business, noted in an interview that banks’ customers (consumers and enterprises) are prime...

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