Two new working groups were created yesterday, Innovate Finance and City of London Corporation created Fintech Strategy Group and a consortium of fintech companies in Italy creating ItaliaFintech; the groups are meant to help fintech companies collaborate with traditional financial firms and work alongside regulators who want a better understanding of new business models; the working groups come after the European Commission laid out their Fintech Action Plan last week. Source.
Savings rates at UK challenger banks are more than 1 percent higher than their high street counterparts; research by challenger Gatehouse Bank revealed the statistics; challenger banks and digital banks are still finding wide knowledge of open banking a challenge; “Sadly too many savers still opt for products from household names as they are unaware of the best buys that exist beyond the high street,“ said Charles Haresnape, CEO of Gatehouse Bank, to AltFi. Source.
Visa (NYSE: V) today announced it has completed its acquisition of Tink – an open banking platform that enables financial institutions,...
FinTech Tide is using open banking to offer additional capabilitie
Yapily, an open banking platform, has expanded into Spain, according to a company statement. Yapily notes that it already can cover over 95% of Spanish bank accounts, both retail and commercial, at 52 banks. Yapily recently raised $51 milion in Series-B funding and said it
Lots of crypto news this past week with a big round from ConsenSys, a big vote in the EU and everyone wonders what Apple will do with crypto.
Berlin-based Trade Republic, which claims to be Europe’s largest savings platform, has announced a €250 million Series C extension.
Metro Bank’s Harrow branch in London became the victim of a fake news story that caused customers to demand their...
Lloyds Bank partnered with Swedish fintech Minna Technologies and Visa in 2020 to launch its subscription management service, which allows Lloyds Bank customers to view, manage or amend their subscription services through the app.
Over five million UK citizens and small businesses are active users of open banking-enabled products with 336 regulated providers.