Global

UK’s Payment Systems Regulator Commits to Work on VRPS in Strategy Review

Open Banking Expo

“The UK’s Payment Systems Regulator (PSR) has committed to working closely with the Financial Conduct Authority (FCA) to take forward work on the overall framework for commercial Open Banking payments, focusing on the initial phase of Variable Recurring Payments (VRPs), over the next two years.”

Tags: UK

Banking Industry Embedded Finance Fast Payments Open Banking Technology

Episode 254 - Reshaping How We Move Money with Booshan Rengachari, Finzly

Booshan Rengachari, CEO of Finzly, joins Glenbrook’s Elizabeth McQuerry and Simon Skinner to discuss how software, fast payments, and open banking are reshaping the banking industry and the way we think about financial services.

Companies

Square partners with Salt Edge to offer open banking capabilities to UK-based SMEs

Salt Edge

“Square has partnered with Salt Edge, a leading open banking platform, to help streamline and simplify payment operations for sellers in the UK.”

Tags: Square

Global

UK Open Banking Turns Seven – Industry Reaction

Electronic Payments International

“There are now over 11.7 million active users of open banking-enabled products in the UK and 2025 is set to be a pivotal year for the industry, with the passing of key legislation.”

Tags: UK

Companies

Truelayer Partners With Ryanair

Yahoo Finance

“TrueLayer, one of Europe’s largest open banking payments network has formed a partnership with Ryanair, Europe’s largest airline group. This collaboration is now live and represents a major milestone for both companies.”

Tags: TrueLayer

Regulation

CFPB Approves Application from Financial Data Exchange to Issue Standards for Open Banking

Consumer Financial Protection Bureau

“The Consumer Financial Protection Bureau (CFPB) issued an order recognizing Financial Data Exchange, Inc. (FDX) as a standard setting body under the CFPB’s Personal Financial Data Rights rule.”

Tags: CFPB

Companies

Regions Bank to Integrate Axway’s Open Banking Solution

Open Banking Expo

“US-based Regions Bank has chosen data integration company Axway’s Open Banking solution ‘Amplify’, to offer customers enhanced data privacy and security. By adopting the Axway solution, Regions Bank’s consumer banking, corporate banking and wealth management customers will no longer have to rely on screen-scraping, which is a “credential-based process”.”

Tags: Regions Bank

Global

Ghana’s Central Bank Releases Draft Open Banking Directive

Open Banking Expo

“Ghana’s central bank, the Bank of Ghana, has issued a draft Open Banking Directive with the aim to “accelerate the adoption of digital financial services” and “improve the overall functioning” of the country’s payments and financial ecosystem.”

Tags: Ghana

Industry

Open Banking Solutions Launches Tailored Digital Services for Community-Based Financial Institutions

Morningstar

“Black Dragon Capital℠ has launched Open Banking Solutions (OBS), a comprehensive suite of cloud-based digital services designed to support community-based financial institutions.”

Industry

Open Payment Network Acquires ExcheQ Instant Payment App from North American Banking Company

Open Payment Network

“Open Payment Network announced that it has acquired ExcheQ, a payment application from North American Banking Company that gives financial institutions an easy to use instant payment app to offer their customers. ExcheQ provides the capability of sending and receiving instant payments using FedNow Service and TCH-RTP network.”

Industry

Plaid Reveals the US Institutions Most Prepared for Open Banking

Open Banking Expo

“Financial institutions in the US have reported differing levels of readiness ahead of new Open Banking regulatory requirements, with executives from the largest banks the most confident in their institution’s regulatory preparedness, according to new research by Plaid.”

Companies

Modulr Wins Contract to Provide Confirmation of Payee Services to HMRC

Open Banking Expo

“UK-based digital payment services provider Modulr has signed a contract with HMRC for the provision of Confirmation of Payee (CoP) services, which was secured under the new Open Banking Dynamic Purchasing System (DPS). Under the agreement, Modulr will provide payment validation services to protect the security of HMRC’s payments to individuals and businesses.”

Industry

European Airline Ryanair Partners With Truelayer to Offer Pay by Bank

Open Banking Expo

“Europe’s largest airline group Ryanair has partnered with Open Banking payments network TrueLayer to introduce Pay by Bank at checkout. Ryanair’s customers can now choose ‘Pay by Bank App’ when booking flights and, in doing so, experience faster, more secure and “seamless” payments.”

Industry

Open Banking in the US – A New Era of Consumer-Centric Innovations?

Open Banking Expo

“The Consumer Financial Protection Bureau (CFPB) published the final version of its Personal Financial Data Rights rule on October 22, which in its own words, moves the US closer to “having a competitive, safe, secure, and reliable ‘open banking’ system”. Up until now, the US has been one of very few countries to put Open Banking in […]

Artificial Intelligence Authentication BNPL Cross-border Payments Fast Payments Glenbrook Open Banking Payments Fraud Regulatory Environment Technology Tokenization

Episode 253 - Glenbrook Partners: 2024 Payments Industry Trends Wrap Up

The Glenbrook partners reflect on key trends and challenges in the payments industry that shaped 2024 - from generative AI, open banking, the evolving regulatory landscape, and the rise of fast payment systems worldwide. And you can't get the Glenbrook team in a "room" without discussing ongoing fraud implications, orchestration in merchant payments, and the progress of tokenization. Tune in to hear insights from our industry experts on these themes and more as we wrap up the year and look towards 2025.