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.

Australian Banking Association: Open Banking Rules Need ‘New Pathway Forward’
Australian Banking Association: Open Banking Rules Need ‘New Pathway Forward’
July 08, 2024  |  Bank Regulation

Australian Banking Association (ABA) CEO Anna Bligh said its “time to go back to the drawing board” when it comes to the country’s open banking rules....

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Exclusive: Visa Aims Value-Added Services at Helping Banks Capture Gen Z Loyalty
Exclusive: Visa Aims Value-Added Services at Helping Banks Capture Gen Z Loyalty
July 08, 2024  |  VISA

There’s the payment and then there’s everything that happens around it. That’s why financial services companies, from insurance to FinTechs to enterprise-grade banks, add services...

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New Era for UK Open Banking As Labour Plans to Boost Adoption
New Era for UK Open Banking As Labour Plans to Boost Adoption
July 05, 2024  |  Banking

Now that the Labour Party’s been ushered into power in the U.K. — in a landslide vote — what’s next for open banking in the...

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Lenovo and Trustly Team to Offer Open Banking at Checkout
Lenovo and Trustly Team to Offer Open Banking at Checkout
July 03, 2024  |  Partnerships

Swedish tech firm Lenovo is offering open banking at checkout via a partnership with Trustly. The collaboration, announced Wednesday (July 3), is open to Lenovo customers in the U.K. and...

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Trustly and Gr4vy Expand Payments Orchestration Partnership to Europe
Trustly and Gr4vy Expand Payments Orchestration Partnership to Europe
June 25, 2024  |  Partnerships

Payments orchestration platform Gr4vy has expanded its partnership with open banking payments firm Trustly. The extended collaboration, announced Tuesday (June 25), will bring Gr4vy’s services to Europe, and follows an...

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Capturing the US Family Dynamic Will Power Open Banking’s Future
Capturing the US Family Dynamic Will Power Open Banking’s Future
June 21, 2024  |  Banking

Without education, awareness, or utility, any innovation will find it hard to scale. Fortunately for open banking, which allows consumers to securely connect to their...

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Trustly Inc. CEO Says Pay by Bank Is the Next-Gen ACH
Trustly Inc. CEO Says Pay by Bank Is the Next-Gen ACH
June 13, 2024  |  Payments Innovation

It’s said that imitation is the sincerest form of flattery. If that’s the case, payments industry veteran and Trustly Inc. CEO Alex Gonthier should feel...

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At Senate Hearing, CFPB’s Chopra Warns of ‘Financial Surveillance’
At Senate Hearing, CFPB’s Chopra Warns of ‘Financial Surveillance’
June 12, 2024  |  CFPB

Consumer Financial Protection Bureau Director Rohit Chopra took note during his Wednesday appearance before the Senate Banking Committee that companies including PayPal and JPMorgan are...

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Are Fireworks Ahead as CFPB Director Testifies on Capitol Hill?
Are Fireworks Ahead as CFPB Director Testifies on Capitol Hill?
June 10, 2024  |  CFPB

Consumer Financial Protection Bureau Director Rohit Chopra is set to testify on Capitol Hill this week. He is scheduled to appear before the Senate Banking...

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