“The Financial Data Exchange (FDX) announced its Fall release this morning which includes a myriad of technical standards and updates to the existing specification that have now been launched into the financial services marketplace, thereby cementing FDX’s position as one of the most comprehensive Open Finance data models in the world today.  “FDX’s Fall release is another milestone and proof point of how FDX continues to deliver on its promise to unify the financial industry around secure, common, interoperable and royalty-free standards for user-permissioned data sharing and Open Finance,” said FDX Managing Director Don Cardinal.”

“Since the launch of Plaid Exchange, we’ve learned that many financial institutions need technical support in implementing the platform. That’s why we’re excited to partner with Jack Henry & Associates® to enable Plaid Exchange for financial institutions on their Banno Digital Platform . With this partnership, Jack Henry customers will have “zero-lift” access to the Plaid network. The more than 350 institutions currently using Jack Henry’s Banno Digital Platform can give their account holders secure and reliable access to the thousands of Plaid-powered fintech apps they’ve come to rely on in their everyday financial lives.”

“Akoya – a new API-based network enabling access to consumer financial data – and U.S. Bank announced today that the Minneapolis-based bank will be the first owner-bank to integrate with the Akoya Data Access Network. The agreement will give customers more control if they choose to connect their banking accounts to third-party services.”

“Finicity, a leading provider of open banking solutions, announced today with BMO Harris Bank that they have signed a data access agreement. The agreement signals a commitment to empower consumers with more control and secure sharing of their financial data. The agreement enables BMO’s customers to have more secure and convenient access to their financial data, empowering them to manage their finances, access capital, and make financial progress. The data access agreement defines common rules for how Finicity and BMO will communicate and exchange financial data.”

“Open banking enables bank-to-bank payments, meaning that (in theory) merchants should be able to accept payments without having to hand over fees to Visa or Mastercard or other payment providers, such as Stripe. The challenge, however, isn’t just implementing open-banking based payments as a checkout option — there are are already a host of open banking tech providers — but persuading customers to switch to a new payment option they are likely unfamiliar with.”

“French fintech startup Lydia is going to work with financial API startup Tink for its open banking features in its app. Lydia started as a peer-to-peer payment app and now has 4 million users in Europe. Lydia’s vision has evolved to become a financial super app that lets you control your bank accounts and access various financial services.”

“Finicity, a leading provider of open banking solutions, today announced the rollout of Finicity Lend™ for credit-decisioning. Finicity Lend, an integrated solution set of open banking data services, provides banks, lenders and fintech developers access to tools that enable their borrowers to directly permission data and insights into lending decisioning processes.”

“Wells Fargo & Company (NYSE: WFC) announced it has entered into a data exchange agreement with Envestnet | Yodlee, a leading financial data aggregation and analytics platform. Powered by an application programming interface (API), Wells Fargo customers will be able to more securely and seamlessly share their financial data with the more than 1,400 third-party financial applications on the Envestnet | Yodlee Financial Data Aggregation Platform that help improve their overall financial wellness.”

“Finicity, an open banking software provider, announced Friday that it has signed a direct data agreement with Charles Schwab.  By sharing data via an API, Finicity says it will enable consumers, through their Schwab accounts, to more securely connect and allow direct access to their financial account data via third-party apps. The real-time financial data aggregation and insight provider’s self-described mission is to help individuals, families and organizations make smarter financial decisions through safe and secure access to “fast, high-quality data.””

“TD Bank Group (TD) today announced a new data-access agreement with Intuit, maker of TurboTax, QuickBooks and Mint, which lays the groundwork for customers to request that TD transfers their financial data for services they want to use, including personal financial management apps supported by Intuit. The North American agreement signifies alignment between TD and Intuit about protocols to be followed by Intuit when accessing financial data of a TD customer to support the customer’s request to use financial services supported by Intuit.”

“Financial API provider TrueLayer has recorded an eight fold increase in UK consumers using Payment Initiation (PI) to pay for goods and services online during the lockdown. The majority of growth (88%) was from people with bank accounts held at traditional financial institutions such as Lloyds or Barclays, with account holders at challenger banks such as Monzo and Revolut accounting for 12% of growth.”

“Blackhawk Network , one of the largest branded payments providers in the world, has appointed market-leading Open Finance data and intelligence platform Moneyhub to deliver its compliance with the Open Banking standards. Using Moneyhub, Blackhawk Network is able to demonstrate a secure, robust platform that adheres to the highest industry standards. The technology also enables Blackhawk Network to validate third-party providers (TPPs) to access consent driven user data and initiate payments, meaning that it can immediately provide connectivity to third parties through live applications. This enables the user experience to be smoother, quicker, and more engaging. “

“Bottomline, a leading provider of financial technology that makes business payments simple, smart and secure, today announced the launch of Pay Direct. This new Open Banking payment initiation service gives companies a more efficient and cost-effective way to receive online payment from customers. With the introduction of Open Banking, innovative financial applications are coming to market, and Bottomline’s Pay Direct is one of them. As an alternative to the raft of payment methods available for making an online purchase, Pay Direct gives merchants and customers a new, convenient and pennywise way to pay and get paid.”

“Payit™ uses the Open Banking infrastructure to allow customers of UK banks to pay for products and services offered by retailers who use the service, which is targeted at mid to large corporate companies.Open Banking was introduced in 2018 by the CMA to allow licensed financial service providers to share customer data, and NatWest’s use of the technology means it’s the first major UK bank to utilise open banking to facilitate payments in this way. With customers of the UK’s nine largest banks eligible, consumers don’t need to bank with NatWest to take advantage, and can use the service by selecting the Payit™ button on the merchant’s payment page and then selecting the bank they wish to pay from. The consumer is then automatically redirected to their bank’s mobile or online banking to complete the payment. Payit™ then provides settlement to the merchant within 2 hours via faster payments.”