In banking, there’s no shortage of new challenges and competitive threats keeping financial marketers up at night. Facing increasingly intense pressure, traditional institutions are innovating faster than ever. (more…)
UK bank NatWest is trialling a standalone personal finance app that uses AI, data analytics and Open Banking APIs to help customers better manage their money.
The app, called Mimo, will help customers budget, remind them of the financial tasks they need to do and provide proactive and personal insights into their money, looking at their bills or day-to-day spending, as well as insurance, subscriptions and utilities before offering tips on the best deals on the market.
Klarna, one of Europe’s leading payment providers and the global market leader in payment initiation services, announces the launch of its own Open Banking Platform.
Tearsheet talked with Brent Baker, the head of growth and operations at BBVA’s Open Platform, which means he’s in charge of bringing new customers and maintaining risk and control. The talk focuses primarily on his work with the firm’s banking as a service offering and how it fits into BBVA’s global strategy of being the bank of billions of people. (more…)
Turnkey open banking platform provider, Token.io Limited, announced on Monday it has formed a partnership with digital-first challenger bank Tandem Bank to achieve PSD2 compliance and leverage open banking opportunities. According to Token.io, Tandem is now looking to look beyond core compliance, developing innovative new services that make use of new opportunities around payments. (more…)
European anti-money laundering legislation means customers and businesses are required to provide potentially sensitive documentation to prove their identities. But how safe are the methods of sharing and storing those documents? Are these attempts to strengthen security creating security and privacy risks of their own?
Right now, we’re stuck with a system that forces customers to duplicate key processes, and means sensitive personal documents are stored in multiple locations with multiple services. That’s a poor experience for customers. More seriously, it greatly increases the risk of data breaches. Recent years have proved – with increasing frequency – just how urgent those risks are. (more…)
HSBC UK has created the first live use case of open banking for credit applications using the InterConnect platform from Equifax, the consumer and business insights expert. (more…)