Tag: Open Banking

Open banking platform Ecospend has partnered with banking-as-a-service (BaaS) provider Contis to offer a wide range of BaaS products to both its customers.

Swedish open banking company Tink has completed its acquisition of German firm FinTecSystems following regulatory approval.

A recent report by open banking credit reference agency Credit Kudos has found that the adoption of open banking in lending could be set to reach 87% by 2023.

Open banking provider Yolt has received a PSD2 license from De Nederlandsche Bank (DNB), which will be the backbone for its expansion in Europe.

Founded in 2014, FinTecSystems is specialised in open banking infrastructure and data analysis to help companies make data-driven and automate decisions. At a time when companies are scrambling to protect their assets from criminal actors, could FTS’ open banking infrastructure be a flood barrier against the rising wave of financial crime?

Global payment transactions facilitated by open banking are expected to exceed $116bn by 2026, rising from $4bn in 2021.

UAE-based open innovation platform Fintech Galaxy has collected $2m in its seed round to support its goal of boosting financial inclusion in the Middle East and North Africa.

A report by open banking firm Yolt Technology Services (YTS) has found that up to 40% of banking customers across the continent are not currently using an open banking solution.

A survey by open banking platform Tink has found that four in ten executives believe it will take their organisation between 5-10 years to fully implement open banking.

Zopa has found 4 in 10 UK consumers would use open banking to apply for credit if it boosted the chance of getting an offer or gave them access to better rates than banks.