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.

Accelerating Open Banking Adoption Will Drive Real-Time Payments Growth
Accelerating Open Banking Adoption Will Drive Real-Time Payments Growth
May 19, 2023  |  Real-Time Payments

Open banking and instant payments are two of the most exciting trends in digital banking today. Both of these services improve the financial lifestyles of...

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Plaid Teams With Prism to Help Lenders Make Better Credit Decisions
Plaid Teams With Prism to Help Lenders Make Better Credit Decisions
May 18, 2023  |  Partnerships

Open banking platform Plaid has launched a partnership with cash flow underwriting service Prism Data. The collaboration is designed to help businesses analyze and use consumer-permissioned open banking data to...

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Visa Selects Startups for Accelerator Program in Asia Pacific
Visa Selects Startups for Accelerator Program in Asia Pacific
May 16, 2023  |  Startups

Visa has selected seven startups for its 2023 Visa Accelerator Program in Asia Pacific. Selected from among 450 applicants, the seven startups are Dowsure (Mainland China), Doxa Holdings (Singapore), Kadmos (Germany), Pi-xcels (Singapore), Playbux (Thailand), Transpure (India) and Twid (India), Visa said in a...

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Ahrvo Labs Launches Cross-Border Open Banking Platform Supporting 185 Currencies
Ahrvo Labs Launches Cross-Border Open Banking Platform Supporting 185 Currencies
May 12, 2023  |  B2B Payments

Ahrvo Labs has launched a platform that allows any authenticated bank account to be used for cross-border transactions. The company’s new Cross-Border Open Banking platform...

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Plaid Signs Agreements to Migrate Traffic to Financial Institutions’ APIs
Plaid Signs Agreements to Migrate Traffic to Financial Institutions’ APIs
May 11, 2023  |  Digital Banking

Plaid is expanding its application programming interface (API)-based data sharing network. The firm is now migrating 100% of its traffic to APIs for financial institutions,...

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Petal Raises New Funding and Spins Off Prism Data Unit
Petal Raises New Funding and Spins Off Prism Data Unit
May 10, 2023  |  Fintech Investments

Petal has raised new funding and spun off its Prism Data unit. The spinoff results in two independent FinTech companies that leverage open banking data...

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Taktile Launches Marketplace to Help Lenders Access New Data Sources
Taktile Launches Marketplace to Help Lenders Access New Data Sources
May 09, 2023  |  Data

Taktile has launched a marketplace that helps lenders access new data sources. The new Taktile Data Marketplace includes providers of traditional credit, identity, fraud, open...

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Visa and Tarabut Gateway Team to Expand MENA Open Banking
Visa and Tarabut Gateway Team to Expand MENA Open Banking
May 09, 2023  |  Banking

Tarabut Gateway has partnered with Visa for a Middle East/North Africa-focused open banking partnership. The companies announced their collaboration Tuesday (May 9), with plans to create “data-driven offerings” like credit...

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Tarabut Gateway Raises $32 Million to Expand Saudi Open Banking
Tarabut Gateway Raises $32 Million to Expand Saudi Open Banking
May 03, 2023  |  Investments

Open banking platform Tarabut Gateway hopes to expand in Saudi Arabia after raising $32 million. The company announced the Series A funding round Wednesday (May...

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