For Romania, due to the low interest in this area, the best way to move forward would be to set-up an OBIE-like entity to standardise technical requirements and consumer journeys. This would ensure that all industry participants are aware of the direction of the ecosystem. „Any other approach would be too slow to deliver considerable benefits in a reasonable timeframe,” according to a Yapily report. Open Banking usage has increased […]
Smart Fintech announced today that they have officially received the authorization from NBR (National Bank of Romania), the regulatory authority, as a Payment Institution authorized to perform Payment Initiation Services (PIS). Thus, the start-up becomes the first open banking third-party provider (TPP) licensed in Romania. Smart Fintech is officially listed in the Payment Institutions Register held by the NBR and in the Register of payment and electronic money institutions under […]
Financial Technology Partners, the only investment banking firm focused exclusively on the financial technology sector, released a new report focused on open banking: Rearchitecting the Financial Landscape. The report provides an overview of trends related to Open Banking, Banking-as-a-Service, and Embedded Finance globally. It also offfered a detailed landscape of FinTech companies in the Open Banking and Embedded Finance space. The FT Partners report recognize Finqware, a European technology company based […]
Business banking platform Tide has accused the UK’s banks of dragging their feet on Open Banking, arguing for the introduction of data fees to incentivise the sector to promote wider uptake, according to Finextra. In a submission to the Competition and Markets Authority review into governance arrangement for the new entity to take over from the Open Banking Implementation Entity (OBIE), Tide proposes removing the block on charging to access data […]
CEC Bank, one of the largest retail banks in Romania, becomes one of the first banks to commercially launch features based on open banking in the CEE region. In the Romanian market, CEC Bank and Banca Transilvania, the market leader, having launched a similar feature in its NEO platform in September 2020, are the only players capitalizing on the implementation of Revised Payment Services Directive (PSD2) by connecting to data […]
Proiectul Casy dezvoltat de ING Tech Romania, permite clienţilor să îşi centralizeze într-o singură aplicaţie nu doar conturile de la toate băncile din România, cât şi posibilitatea să integreze conturi deschise la bănci şi fintech-uri din Uniunea Europeană, scrie Business Magazin. Mai mult decât atât, Casy permite odată ce clientul şi-a dat acordul să integreze conturile sale bancare în aplicaţie, sa nu mai fie nevoit să reintroducă sau să reconfirme datele […]
Pentru a se asigura ca API-urile, care permit implementarea conceptului de open banking, sunt in linie cu cerintele de reglementare, Banca Nationala a agreat cu comunitatea bancara un termen pentru conformitate: 31 martie a.c.. „Este termenul final pana la care practic piata noastra ar trebui sa fie aliniata cu cerintele legale si API-urile ar trebui sa creeze aceasta experienta unica si fara frictiuni.” Zitec, in parteneriat cu Google Cloud si Finqware, […]
In an interview with ThePaypers, Cosmin Cosma, Finqware’s CEO, shares insights on Open Banking’s presence in CEE, its struggles, benefits, and use cases, along with how banks react to this new environment. The state of affairs of Open Banking in Romania (or CEE region) Currently, Romania, like most other countries in the CEE, is facing a growing but still low level of Open Banking services adoption, as compared to more advanced countries. In […]
Finqware isi continua ofensiva in promovarea serviciilor pe zona de open banking. Dupa Banca Transilvania, cu care Finqware a implementat serviciul de agregare a conturilor in septembrie anul trecut, acum compania anunta ca o noua banca de top urmeaza sa-l lanseze in curand. „În acest moment suntem LIVE cu cea mai mare bancă din România. Sunt zeci de mii de utilizatori care își folosesc aplicația pentru a-și vedea și conturile […]
Every month, hundreds of thousands of UK consumers and businesses become new active open banking users. API call volume has increased from 66.8 million in 2018 to nearly 6 billion in 2020. 320,000 open banking payments were made in 2018, this has subsequently risen to over 4 million in 2020. The UK’s Open Banking Implementation Entity (OBIE), the body tasked with designing open banking technology in the UK, today marks the third year since open […]