5 Open Banking trends transforming financial services in 2024
Open Banking has rapidly become a key catalyst for change in the financial services industry in 2024. Here are five trends shaping the industry right now.
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Tag: open banking
Open banking payments to outpace BNPL and crypto over next five years
Open Banking will likely be a more popular payment method that Buy Now Pay Later and Crypto in five years time, according to new emerchantpay research.
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Dutch neobank bunq partners with Mastercard to leverage AI in open banking
bunq, the second largest neobank in Europe, has partnered with Mastercard to offer its users a complete overview of their finances.
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Western Union partners with Plaid to integrate open banking
Western Union has teamed up with open-banking platform Plaid to streamline the process of sending and receiving cross-border payments.
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Standard Chartered launches Open Banking Marketplace
Standard Chartered has launched an Open Banking Marketplace designed to enable businesses to find and test application programming interfaces (APIs) in a sandbox environment.
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Klarna extends open banking settlements to the UK
Klarna’s decision is seen as a significant boost to open banking in the UK, where approximately 5 million Bris use open banking payments each month.
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Mastercard and Nexi team up to advance open banking in Europe
The partnership will support Mastercard Open Banking for merchants by enabling e-commerce transactions across Nexi’s gateways.
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Moneyhub to provide Open Banking to the UK government
The deal between Moneyhub and the Cabinet Office will expand Open Banking across public services in the UK
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FIS partners with data networks to integrate Open Access platform
FIS is set to integrate its Open Access platform with several leading data networks marking another milestone in the drive to make secure open banking more accessible
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Open banking: Moneyhub connects Co-op Bank, Smile Bank and Kroo Bank
The integration of open banking in Co-op Bank, Smile Bank and Kroo Bank follows recent research which revealed the rapid growth of this service in both the UK and the Middle East.
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One in five now make payments using Open Banking, says Moneyhub
Moneyhub’s research comes following figures showing that Open Banking payments hit a milestone earlier this year, reaching 11.78 million transactions in September.
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Openpay partners with Yapily to enhance open banking in Europe
Danish fintech, Openpay, has partnered with Yapily, a UK-basedl open banking API provider, to expand services for peer-to-peer money transfers in the region.
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PayPoint launches Pay By Bank service
PayPoint has launched Pay By Bank, a new solution offering bank-to-bank transfers as a PISP to Pay-As-You-Go energy customers.
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PSD3: The European Commission unveils new open banking rules
PSD3: The European Commission unveils new open banking rules
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Spense, Neonomics partner on open banking for automotive industry
Norwegian firm, Spense, has partnered with Neonomics to offer open banking payments for the...
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Tink and SSP partner on open banking in Europe
Payment processor Score & Secure Payment (SSP) specialises in account-to-account payments and is using Tink’s Payments product to power its new Pay by Bank option in across the eurozone
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Shopify and Volt ink open banking deal
Merchants across Europe, the UK and Brazil that have integrated Shopify can now offer Volt’s ‘Pay by Bank’ solution at checkout, after the real-time payments gateway became an approved open banking partner of Shopify this week.
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Tazapay, Volt to enable open banking payments in the UK and Europe
The deal will enable increased cross-border sales and allow businesses to track payments from initiation to receipt using Volt’s real-time capabilities.
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UK reaches 7 million Open Banking users for first time
Combined CMA9 data shows that 7 million consumers and SMEs used Open Banking services during January 2022
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TrueLayer launches first automated onboarding service for open banking
Signup+ aims to streamline the onboarding process by combining account creation with making a payment
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