PYMNTS

JULY 26, 2020

The announcement by the Consumer Financial Protection Bureau ( CFPB ) comes on the heels of a symposium it held in February which included experts from consumer groups, financial technology (FinTech) companies, trade groups, banks and data aggregators.

Financial Data 69

Financial Data Leverage Securities Accounting 69

PYMNTS

NOVEMBER 24, 2020

The pandemic is reshaping banking. The conversation came against a backdrop where, as noted in a recent PYMNTS Tracker , a majority of Americans did their banking online last year. As more banking has shifted online, an increasing amount of that online activity is occurring across mobile conduits. Convenience matters, too.

Banking 107

Banking Education Accounting Communication 107

PYMNTS

NOVEMBER 17, 2020

Earlier this year, the European digital bank had taken on Ireland, France and Italy. In a press release, Revolut said the latest expansion would bring open banking to its users in Germany. Revolut said its new open banking offer was developed with TrueLayer , a London-based financial technology (FinTech) company.

Banking 105

Banking Financial Data Accounting Finance 105

PYMNTS

OCTOBER 1, 2020

As banks look to streamline access to finance or make it easier to safely share financial information with apps, Barclays Business Banking and Wells Fargo are joining forces with FinTechs on digital initiatives. PYMNTS rounds up the latest partnerships and initiatives below. Barclays & Propel.

Finance 91

Finance Banking Foreign Exchange Invoicing 91

PYMNTS

DECEMBER 22, 2020

When Stripe announced earlier this month that it was collaborating with the likes of Citigroup, Goldman Sachs and Barclays to embed a range of financial services within its Stripe Treasury offering, it was a big step forward for the Banking-as-a-Service (BaaS) landscape. A Phased Approach. The Corporate Use Case.

Banking 114

Banking Treasury Corporate Finance B2B 114

PYMNTS

JANUARY 14, 2021

The Saudi Arabian Monetary Authority (SAMA) is introducing an open banking policy to advance digital innovation in the financial services sector. Saudi Arabia’s central bank said the plan is for open banking to go live in the first half of 2022.

Banking 90

Banking Planning Financial Data Securities 90

PYMNTS

APRIL 8, 2020

financial institutions as they scrambled to apply for Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Bank of America received criticism for initially only allowing existing small and medium-sized businesses (SMBs) to apply. Small businesses overwhelmed U.S. Funding Circle.

Banking 98

Banking Accounts Payable Compliance Technology 98

PYMNTS

JUNE 29, 2020

Open banking is one of the most significant emerging trends in the financial industry, allowing banks and FinTechs to share financial data in a quick, easy and secure manner across a network of platforms. Security Risks Facing Open Banking.

Securities 96

Securities Banking Leverage Communication 96

The Finance Weekly

OCTOBER 30, 2024

One of the major trends in this space is the ability to connect bank accounts seamlessly, providing real-time visibility into your financial status. Known for its advanced features, Datarails offers a seamless experience by connecting directly with your existing bank accounts, providing real-time visibility into your finances.

Cash Management 52

Cash Management Cash Flow Forecasting Reconciliations Forecasting 52

PYMNTS

MARCH 20, 2020

Open banking’s impact on small- to medium-sized businesses (SMBs) continues to proliferate as traditional financial institutions (FIs) embrace the opportunity to unlock data for third-party platforms. ’s experience is quickly influencing the way SMB lenders approach open banking in other markets like the U.S. .’s

Banking 93

Banking Finance Invoicing Risk Management 93

PYMNTS

NOVEMBER 27, 2019

Small businesses are a growing target for bank-FinTech collaborations and data integration initiatives as financial service providers explore new use cases for open banking. Based in Silicon Valley, Plaid said it has so far enabled integrations with 15,000 banks across the U.S. and Canada.

Banking 90

Banking Accounting B2B Finance 90

PYMNTS

APRIL 2, 2020

Every interaction tells banks what customers actually want, meaning FIs just need the right tools to interpret this data. One of the most powerful tools in the financial sector is data analytics. Big Data analytics reached a market valuation of $29.87 What is Data Analytics? Data Analytics Behind the Scenes.

Banking 94

Banking Risk Management Credit Risk Advertising 94

PYMNTS

MAY 1, 2020

million in annual turnover — had been approached by its bank repeatedly in both January and February for a loan, but the company hadn’t needed the capital. A lot of banks and lending institutions are turning companies down for a loan or funding, yet they’re never given an explanation as to why,” said Keller. Open Banking in the U.K.

Banking 95

Banking Education Financial Data Finance 95

PYMNTS

JUNE 26, 2020

We have deep dives on faster worker pay as well as cloud banking and news on WhatsApp’s payment functionality in Brazil. The Bank of China is one of over 12 commercial banks that lent to the German payment through a facility, and the move could present a mortal danger to Wirecard. Top News . Mastercard Inc.

Banking 92

Banking Financial Data Manufacturing Economics 92

PYMNTS

FEBRUARY 20, 2020

As Open Banking spreads further into the small business (SMB) financial services market, accounting and lending platforms are taking advantage. bank sets its data sharing rules for FinTech firms. JPMorgan Sets FinTech Data Deadline. Simply Completes First Open Banking Funding. Plus, a major U.S. As the U.S.

Accounting 87

Accounting Banking Invoicing Sales 87

PYMNTS

AUGUST 24, 2020

Businesses and consumers alike are increasingly tapping new digital offerings for their financial needs as the ongoing COVID-19 pandemic shifts banking practices. Moving to cloud-supported infrastructure is one way these banks could shore up their products and keep customer interactions seamless. Around The Cloud Banking World.

Banking 90

Banking Technology Financial Data Accounting 90

PYMNTS

NOVEMBER 2, 2018

Whether driven by regulation or market competition, the financial services sector in several jurisdictions is progressing toward open banking, interconnectivity and a freer flow of data between customer accounts and third parties. and multinational banks.

Securities 77

Securities Banking Accounting Technology 77

PYMNTS

DECEMBER 29, 2020

In this week's roundup of bank-FinTech collaboration and open banking initiatives, Citi embraces the unlocking of account data to third-party FinTechs, while WEX weighs in on opportunity for banks to take advantage of partnerships. Plus, one FinTech offers a new spin on the open banking model to drive financial inclusion.

Cash Flow Forecasting 123

Cash Flow Forecasting B2B Startups Financial Data 123

The Finance Weekly

JANUARY 5, 2025

With over 200 integrations (think ERP and CRM systems), its built to streamline financial data management, budgeting, forecasting, and more. Ideal for financial institutions, this tool offers finance AI chatbots capable of handling everything from account management to personalized financial advice.

Finance 52

Finance Budgeting Financial Data Forecasting 52

PYMNTS

NOVEMBER 13, 2018

An application program interface (API) ecosystem is growing to transform the financial services (FinServ) sector, and small business (SMB) banking won’t be left out of the shift. APIs offer third-party FinTech firms new opportunities to make use of valuable data stored within traditional bank accounts. In the U.S.,

Cash Flow Forecasting 73

Cash Flow Forecasting Accounting Banking Forecasting 73

Barry Ritholtz

JUNE 17, 2024

A quick break from book authorship to share a fascinating set of data and charts, via Sam Ro. In his weekly missive, Sam points to some amazing charts from Global Financial Data. They are based on historical data that looks at 200 Years of Market Concentration. You might be surprised at the findings.

Concentration 126

Concentration Marketing Financial Data Economics 126

PYMNTS

NOVEMBER 17, 2016

The CFPB notes in its release on the upcoming inquiry that between deposits, card use, saving and tapping into a host of other common financial services — consumers create a detailed log of their financial activity — the records of which are generally kept by account issuers like banks and credit unions.

Financial Data 74

Financial Data Budgeting Securities Accounting 74

PYMNTS

DECEMBER 17, 2018

Use of alternative finance (AltFin) sources among small business (SMB) owners is on the rise, but still has a long way to go before it poses a legitimate threat to traditional banks’ market dominance. Mercator Advisory Group data released earlier this year found that 27 percent of small businesses in the U.S.

Banking 78

Banking Finance Accounting Financial Data 78

PYMNTS

SEPTEMBER 11, 2019

In France, Treezor , a banking as a service platform, said this week that has deployed the Thales SafeNet Data Protection On Demand solution for what is being billed as “safety across the entire payment chain, from tier one banks and neo banks to crowdfunding organizations,” as noted in a release. In the United Kingdom.

Banking 71

Banking B2B Accounting Financial Data 71

PYMNTS

DECEMBER 9, 2020

We’re being a bit tongue in cheek, but the fact remains that digital-only banking is getting a wider embrace – especially in Europe, as the pandemic surges yet again. Open banking, of course, allows financial data to be shared and synthesized across everyday financial life, making banking by app far less of a novelty than it once was.

Banking 82

Banking Profit and Loss B2B Accounting 82

Global Finance

DECEMBER 26, 2024

Treasury functions are no longer isolated; they require seamless communication between ERP systems, banks, and financial data providers. This interconnectedness ensures accurate, real-time financial insights. Connectivity goes beyond data aggregation.

Treasury 59

Treasury Risk Management Currencies SAP 59

PYMNTS

JULY 6, 2017

Open Banking, the U.K. bank-funded entity that was mandated by the Competition and Markets Authority to provide new ways for customers to share their financial data with non-bank providers, has released an API specification for accounts and transaction information and payments initiation.

Banking 71

Banking Securities Financial Data Accounting 71

PYMNTS

SEPTEMBER 21, 2020

Open banking platform Tink continues to set a strong pace for growth with the acquisition of U.K.-based based OpenWrks , a provider of open banking applications. Tink enables FinTechs to access customers’ financial data. Build the future of financial services,” Tink’s website urges. and Ireland country manager.

Banking 72

Banking Financial Data Investments Accounting 72

PYMNTS

DECEMBER 17, 2019

Open Banking could be expanded soon to allow for data sharing between a much larger range of finance companies, according to the Financial Conduct Authority (FCA). Open Banking allows bank customers to share their financial data with other people and companies. In the U.K.,

Banking 53

Banking Financial Data Finance Marketing 53

PYMNTS

JANUARY 21, 2021

Today in B2B payments, European banks grow wary of small business loans, and Xero collaborates on API bank connectivity. SMB Loans Pose Potential Big Risk for European Banks. Euro area banks have cut back on lending, as the pandemic continues to threaten the economy. Xero, Nedbank Team on API-Enabled Bank Feed for SMBs.

B2B 85

B2B Banking Reconciliations Currencies 85

PYMNTS

APRIL 7, 2020

What we’re trying to do is leverage open banking to replicate a FedEx or Amazon experience where businesses know where their payment is at any given point of time, so they have real-time cash flow positioning.”. And the world of financial services is built on trust. That is a powerful offering.

Leverage 83

Leverage Banking B2B B2C 83

PYMNTS

APRIL 16, 2019

The API seems to be on everybody’s lips, a catchphrase or buzzword for a sea change in banking that has the potential to upend the way we do business across any type of interaction. APIs are most readily recognizable as having been codified in the Open Banking concept that debuted in the U.K. About Time For Real Time?

B2B 71

B2B Banking B2C Securities 71

PYMNTS

NOVEMBER 23, 2020

But there’s a new data revolution underway and this one is on the consumer side, as financial data aggregators are very much in the news. Last week, the Department of Justice gave the green light to Mastercard’s $825 million acquisition of data aggregator Finicity. bank accounts.

Banking 117

Banking Financial Data Nonprofit Education 117

PYMNTS

MARCH 12, 2019

For proponents of open banking , the regulatory initiative seen in the U.K. While policymakers target protection and customer ownership of data, one of the most prominent selling points for open banking is the ability for data to move seamlessly between once-siloed platforms. But in jurisdictions like the U.S.

Mergers and Acquisitions (M&A) 73

Mergers and Acquisitions (M&A) Banking Invoicing Financial Data 73

PYMNTS

DECEMBER 13, 2018

The problem can be traced back to data: as organizations scale, either through organic growth or M&A, they’re taking on more financial management platforms and opening more bank accounts, leading to fragmented storage of financial data. Open banking is not a regulatory requirement in the U.S.,

Treasury 62

Treasury Banking Cash Management Accounts Payable 62

PYMNTS

MAY 1, 2019

digital ID system is now available at five Canadian banks in a mobile app, according to a report by Bloomberg. The move will help the banks take a big step forward in identity verification, using blockchain technology to give customers the ability to prove their identity digitally so they can confidently access their accounts.

Banking 69

Banking Securities Financial Data Accounting 69

PYMNTS

NOVEMBER 3, 2020

Late last week, the Consumer Financial Protection Bureau (CFPB) said it will look to issue advance notice of proposed rulemaking on “open banking” by the end of this year. The path ahead for open banking, at least here in the U.S., In other words, there may be a range of potential new rules coming into play in the U.S.

Banking 79

Banking Financial Data Accounting Securities 79