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.
Trustly CEO: IPO Is Still 1 to 2 Years Away Despite Profit Jump
Trustly CEO: IPO Is Still 1 to 2 Years Away Despite Profit Jump
May 30, 2024  |  Digital Payments

The CEO of Swedish FinTech Trustly says going public is not yet on the company’s radar. Speaking to CNBC Thursday (May 30), Johan Tjarnberg said that although his company...

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Credit Union Innovation Hinges on Payment Speed and Security
Credit Union Innovation Hinges on Payment Speed and Security
May 30, 2024  |  Credit Unions

In an era of rapid technological advancement, there remain certain immutable aspects — particularly for payments. When it comes to the way businesses and consumers...

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Cash Flow-Based Underwriting Adds Real-Time Context to FICO Score
Cash Flow-Based Underwriting Adds Real-Time Context to FICO Score
May 24, 2024  |  Loans

The FICO score — what we might think of as the general “shorthand” for lending — was created back in 1989. In the decades since,...

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Payments Orchestration Lowers Expense of Digital Payments Acceptance
Payments Orchestration Lowers Expense of Digital Payments Acceptance
May 22, 2024  |  Digital Payments

There’s no shortage of evidence showing that digital payment methods are nearing a tipping point. As PYMNTS Intelligence and the Federal Reserve have reported, consumers and businesses...

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Stripe Launches Its First Open Banking-Powered Payment Method in UK
Stripe Launches Its First Open Banking-Powered Payment Method in UK
May 21, 2024  |  Payments Innovation

Stripe has debuted an open banking-powered payment method and faster manual payouts in the United Kingdom. In addition, the company has expanded Stripe Capital to the U.K., the...

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Supreme Court Ruling on CFPB Paves Path for Open Banking
Supreme Court Ruling on CFPB Paves Path for Open Banking
May 16, 2024  |  CFPB

Reading the Thursday (May 16) Supreme Court ruling upholding the constitutionality of the Consumer Financial Protection Bureau’s funding mechanisms — and ensuring the agency’s survival — takes one through centuries of...

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Dwolla and Visa Partner on Account Verification for Pay-by-Bank
Dwolla and Visa Partner on Account Verification for Pay-by-Bank
May 16, 2024  |  B2B Payments

Dwolla and Visa have partnered to make it easier for mid- to enterprise-size businesses to use pay-by-bank to pay and get paid. With this collaboration,...

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VantageScore Unveils Credit-Scoring Model That Includes Alternative Open Banking Data
VantageScore Unveils Credit-Scoring Model That Includes Alternative Open Banking Data
May 15, 2024  |  Financial Inclusion

VantageScore unveiled a new credit-scoring model that uses both traditional credit data and alternative open banking data. The combination gives lenders a predictive lift of up...

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Mexico-Based Aplazo Raises $70 Million for Omnichannel Payment Platform
Mexico-Based Aplazo Raises $70 Million for Omnichannel Payment Platform
May 13, 2024  |  Payment Methods

Aplazo has raised $70 million in equity funding, including a $45 million Series B, to continue building its omnichannel payment platform. The Mexico-based company will...

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