Global

NAB, Westpac Sell Stakes in Open Banking Start-up Basiq

Australian Financial Review

“Cuscal, which provides payment services to mutual banks and fintechs, has acquired Basiq, a Sydney-based start-up backed by powerful investors including Westpac and National Australia Bank, in a deal that points to the looming consolidation of payments, data systems and digital identity. The deal provides an exit for Basiq’s shareholders which include US card giant Visa, […]

Tags: Australia

Industry

Noda Chooses ThetaRay AI Solution to Monitor Open Banking Services

Businesswire

“Noda, an open banking fintech, and ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced they will collaborate to enhance payment monitoring and compliance capabilities on Noda’s growing platform that is supporting the new digital economy in Europe.”

ACH Data NACHA

Episode 192 - The Rising Value of Rich Account Data with George Throckmorton, Nacha

The Payments Network that Moves Data, Not Money

Take a listen to Yvette Bohanan and George Peabody as they speak with George Throckmorton, Senior Director at Nacha and the head of Nacha’s Phixius data network initiative.

Payments networks are remarkable constructions. They bring competitors together around a common set of rules and capabilities that then move millions of transactions a day and untold billions in value. That’s the network effect.

Global

Seven Million People in UK Used Open Banking Services in 2022

ComputerWeekly.com

“More than seven million people in the UK used open banking last year, five years after the competition regulator forced banks to introduce services. According to figures, reported to Open Banking Limited (OBL) by the nine banks and building societies that had to implement open banking functionality, two million users have been added since this time […]

Companies

Trustly, Cross River, and PointsBet Partner to Offer Instant Payouts in the US

Businesswire

Today Trustly, the global leader in Open Banking Payments, partners with PointsBet, a premier global online gaming operator, to offer its players Instant Payouts in the United States, powered by Cross River. In partnership with Cross River Bank, a financial services and technology infrastructure provider that offers embedded financial solutions, Trustly’s technology platform will allow […]

Global Payments Mobile Wallets

Episode 188 - Fanning the Flames: A Year in Travel - Turkey & Ethiopia

Next up in Glenbrook’s travelogue series, Nikhat Choudhury joins Yvette Bohanan to share her experience making payments on a recent trip to Turkey.

In this double feature episode, Elizabeth McQuerry and Bethany May also provide observations on the local payments scene in Ethiopia, including their use of the e-money wallet Telebirr.

BNPL Open Banking Security

2023: A Big Year for Regulation in the US?

As we dive into the new year, we at Glenbrook reflect on the key themes and learnings within payments from 2022 and assess what we believe will emerge as key trends in 2023. My colleague Chris Uriarte recently shared his 8 Payments and Fintech trends for 2023 on LinkedIn, where he discussed fraud and embedded […]

Companies

upSWOT and Mastercard are Partnering on Open Banking Data Analytics to Deliver Embedded Finance and Underwriting Tools

AP NEWS

When small business owners permission secure access to their financial data via open banking, it opens the door to an expanding set of financial experiences designed to help them better understand and manage their money. One prime example is expanding access to specialized lending products. Another is better financial insights across their business.

Tags: Mastercard

Companies

Open Banking's Slow March Advances

Atlanta Fed

In June, I wrote about the revived and deliberate process of the Consumer Financial Protection Bureau (CFPB) in developing rules covering the implementation of open banking in the United States. I promised that the Retail Payments Risk Forum would continue to follow developments in open banking, so in this post, I'm providing a small update. In an October 25 speech at this year's Money20/20 conference, CFPB director Rohit Chopra delivered a detailed roadmap and timeline for the rulemaking process for open banking.

Tags: Federal Reserve

Global Payments

Episode 187 - Fanning the Flames: A Year in Travel - Brazil

 

In 2022, travel started to get back to “normal” and the Glenbrook team had many opportunities to get out and about. No trip would be complete without running a few payments experiments. Over the next 5 Fanning the Flames episodes, we’ll take you with us on our journeys to hear first hand experiences and observations with local payment networks across the globe. 

Global

Japanese Fintech Leader Smartpay First to Launch the Next Phase of Digital Consumer finance Through Open Banking

TechCrunch

“Japan-based fintech Smartpay has launched Smartpay Bank Direct, the country’s first digital consumer finance service that allows customers to pay for online installment purchases straight from their bank accounts. Smartpay Bank Direct emphasizes user security while delivering convenience for the consumer, through a network of 67 partner banks across Japan[1]. Smartpay is Japan’s first digital consumer finance company […]

Tags: Japan

Companies

FICO Wins Machine Learning Award for Scams Detection Model

EIN News

“Global analytics software provider FICO won the Machine Learning in Credit and Collections Award at the 2022 Credit & Collections Technology Awards, held in London in late November. The award was for an advanced scam detection model, which is available to lenders using the Retail Banking model in FICO® Falcon® Fraud Manager, the world’s leading […]

Tags: FICO

Global

Half of UK Online Retailers Worried About Surviving the Next 12 Months – Could Instant Payments Save the Day?

Internet Retailing

“British business is bracing itself for a difficult year ahead, new research from Europe’s leading open banking platform, Tink, has revealed. In a recent survey of UK online retailers, half (50%) said they are worried about how their business will survive the next 12 months, with four in ten (41%) afraid of going bankrupt.  As […]

Tags: UK

Companies

Finastra Survey Shows Most US Financial Institutions Consider Open Banking Essential, With a New Focus on Shared Data and Infrastructure

PR Newswire

“Finastra research reveals that views on Open Banking in the United States have matured over the last year, with 68% of respondents considering it either a ‘must have’ or ‘important’, up from 48% last year. Of those who have integrated Open Banking, 100% now say there has been a significant impact to their organization. The ‘Financial Services: State […]

Tags: Finastra

Companies

Finastra and Clinc Announce Collaboration to Boost Digital Engagement and Reduce Service Agent Workload

prnewswire

“Finastra today announced that Clinc, the leading conversational AI specialist serving global financial institutions, will deliver its Virtual Banking Assistant technology fully integrated within Finastra’s Fusion Digital Banking platform. The application enables Finastra’s bank and credit union customers, utilizing Fusion Digital Banking as their digital platform, to increase digital engagement and streamline the customer experience. By enabling […]

Tags: Clinc Finastra