PYMNTS

NOVEMBER 9, 2020

In banking, collaboration — between the traditional players like banks and the tech savvy FinTechs bringing a slew of new apps to market — is key. Increasingly, open banking will underpin that collaboration. Access for the consumer though means access to that far-flung data is paramount for the banks and third parties.

Banking 114

Banking Financial Data Prioritization Economics 114

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 Securities 105

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

The Finance Weekly

JANUARY 5, 2025

These chatbots enhance security and build customer trust by alerting users in real-time. Assisting Financial Planning Finance AI chatbots are excellent tools for budgeting and financial planning. They analyze spending habits and recommend adjustments to help individuals or businesses achieve their financial goals.

Finance 52

Finance Budgeting Financial Data Forecasting 52

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

Centage

SEPTEMBER 6, 2022

The familiarity of spreadsheets and their ease of use mean many employees are happy to keep working with them, even though they may create serious security risks. Below, we’ll analyze Excel spreadsheets security problems that come with spreadsheets and how implementing software can be a more effective solution.

Securities 98

Securities Cash Flow Forecasting Budgeting Forecasting 98

PYMNTS

SEPTEMBER 12, 2018

Omni Security and Authentication. Consumers expect to do business with their bank online seamlessly, without the hassle of complicated security checks, whether through their mobile phone, smart watch, home speaker or other connected device. Around The Security And Authentication Space.

Securities 55

Securities Banking Technology Financial Data 55

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

JANUARY 22, 2021

Young B2B FinTechs secured some of their first investments in areas that include small business accounting, alternative lending and financial management. The firm connects small businesses with real-time financial data to manage accounting and cash flow. CreditEnable. With headquarters in both the U.K. TripActions.

B2B 81

B2B Securities Startups Investments 81

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.

Banking 98

Banking Accounts Payable Compliance Technology 98

PYMNTS

SEPTEMBER 18, 2017

How secure do you feel when it comes to payments? Consider a survey commissioned by payment, telecom and financial data solutions provider Transaction Network Services (TNS), which found that 85 percent of adults across the United States, the United Kingdom and Australia believe fraud attempts on debit and credit cards are on the upswing.

Securities 61

Securities Compliance Numbers Accounting 61

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

PYMNTS

NOVEMBER 17, 2016

The CFPB is taking a closer look at consumers and the relationship to their financial records — specifically the issues they face in accessing, using, and securely sharing their financial records. Technology provides opportunities to use these records to create new consumer tools that help improve financial lives.

Financial Data 74

Financial Data Budgeting Securities Accounting 74

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

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

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 Securities 95

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

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

JUNE 24, 2020

While open banking is gaining traction in Europe (by regulatory mandate) and is making inroads to the U.S. And Tuesday (June 23), Mastercard said it struck a deal to buy Finicity , which provides access to financial data in real time, for $825 million. Visa bought Plaid earlier this year. said Vosburg. Moving Toward Standards.

Financial Data 105

Financial Data Banking Leverage Securities 105

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

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

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

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

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 26, 2017

Going forward, BoA has announced it will be working with financial data aggregators to give their customers a greater ability to connect their banking information with third-party financial management applications.

Banking 63

Banking Financial Data Securities 63

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

SEPTEMBER 30, 2018

banks have seen a boost in attempted cyberattacks in recent weeks. Not only are banks prime targets because of the multitude of sensitive consumer information they hold, but also for the fact that an attack could cause market turmoil. banks have been preparing for the possibility of a massive cyberattack for quite some time.

Banking 74

Banking Securities Accounting Technology 74

PYMNTS

DECEMBER 16, 2020

Ternio , a global FinTech platform, has integrated with Plaid , a financial data company, to help Ternio BlockCard bank accounts access faster and more secure connections to financial accounts, according to a press release. customers to activate their FDIC-insured BlockCard bank accounts.

Accounting 106

Accounting Financial Data Securities Banking 106

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

PYMNTS

JANUARY 15, 2019

It’s now been a year since Open Banking officially came into the U.K. financial services market, but the regulatory initiative seems more of a natural progression for the sector rather than a sudden disruption. FinTech adoption is surging among consumers, particularly in areas like money transfers and payments, EY data show.

Banking 66

Banking Corporate Finance Securities Treasury 66

PYMNTS

FEBRUARY 26, 2019

Open banking may foster talk in Europe and the U.S. centered on collaboration between FinTechs and traditional banks. 25) that in South Korea, the financial regulator there (known as the Financial Services Commission) is encouraging the creation of an interbank payment network that will allow access to banks and FinTechs.

Banking 75

Banking Valuation Finance Leverage 75

PYMNTS

JANUARY 20, 2021

Xero , a global small business cloud accounting platform, is working with South Africa’s Nedbank to give small- to medium-size business (SMB) clients a digital, application programming interface (API)-enabled bank feed to access financial data, according to an ITWeb report.

Banking 67

Banking B2B Invoicing Accounting 67

Global Finance

JULY 31, 2024

Banks function in a digital economy where threats are constantly rising – there were twice as many unique cyber incidents in the third quarter of 2023 compared to the previous year. The average cost of a data breach in 2023 reached $9.5 million due to system complexity, security skills shortage, and noncompliance with regulations.

Banking 64

Banking Leadership Securities Budgeting 64

PYMNTS

DECEMBER 18, 2020

A month after its purchase by Mastercard was cleared by the Department of Justice (DOJ), open banking platform Finicity announced on Friday (Dec. 18) that it has signed a data access agreement with Brex , a company that provides financial services that help scale early-stage businesses.

Financial Data 97

Financial Data Leadership Leverage Banking 97

PYMNTS

AUGUST 29, 2019

The market share of credit unions is only a fraction of their larger bank counterparts, but they tend to inspire a greater sense of loyalty among customers. Data from PYMNTS’ Credit Union Innovation Index found that 60.8 percent wanting their CUs to invest more in security and 19.5 What is Open Banking? .

Banking 63

Banking Securities Accounting Forecasting 63

PYMNTS

DECEMBER 8, 2019

As a way to prevent unfair competition, the Financial Stability Board (FSB) said in a report on Sunday (Dec. 8) that there should be “vigilant monitoring” of Big Tech’s move into financial services. Firms like Google, Alibaba and Facebook could be forced to share data with banks and FinTech firms.

Financial Data 52

Financial Data Concentration Auditing Leverage 52

FISPAN

JANUARY 12, 2022

Financial institutions (FIs) are under pressure to drive innovation in financial data access for the commercial banking space. Banking customers are seeking more control over their banking data than ever before. The end result?

Reconciliations 96

Reconciliations Banking Securities Leverage 96