Embedded finance has been caught in the convergence of instant payments and open banking. It could be its time to shine.
ICBA selects first fintechs for new accelerator program Partnerships, UX improvements and speed will drive money transfer in 2019 Brexit...
There is still too much friction involved in switching bank accounts. But a new tool from Atomic called PayLink is addressing this friction by making it easy for users to move their recurring payments.
The Equifax breach has started to really change and shape the conversation around privacy since they are involved in so...
A new survey, sponsored by Temenos and conducted by The Economist’s Intelligence Unit, of bank executives found 54 percent of...
In the age of open banking, personal information is now being shared across many different institutions; the company powering this...
According to Christopher Ward, head of product management for PNC’s treasury management division, “We’re ready, we’re in process of implementing APIs with customers. I would proffer most customers are not ready for it.”; Bank of America also stated they are ready for open banking; however many banks aren’t as prepared and being ‘ready’ for open banking is up to interpretation; the article from Tearsheet shares other perspectives on open banking and how some banks might be missing the point of open banking. Source
At an event held by the CFPB banks, fintechs, regulators and consumer advocates discussed the data sharing experience; screen scraping...
There is a behind the scenes fight brewing between fintechs and banks who are setting setting stricter guidelines on who...
Banks have historically been the guardians of customer information, but that has started to change with open banking; opening up information to third parties via customers has led banks to think more and more about security breaches; Now it’s not just about building a wall and not letting anyone in,” said Ram Bose, global retail banking consulting leader at Genpact, to TearSheet. “It’s about building a filter or strainer that lets some things in or out and not other things.”; the UK has regulations that mandate the sharing of info but the US has only set out standards and banks have been doing one off deals; new technologies like AI and machine learning can help to better secure agreements when banks are working with 20 or more potential partners; it is early days but banks can help to set up the standards they use by working together with fintechs and regulators. Source.