Tink’s key findings and insights from their European survey of nearly 270 financial executives. Learn what they see as the threats, opportunities and challenges this open banking movement presents – and what it means for the industry in 2019 and beyond. In May 2019, Tink surveyed financial executives in the following 17 European countries: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Italy, Latvia, Lithuania, Netherlands, Norway, Poland, Portugal, Spain, Sweden, […]
This is the second piece in an ongoing series called Tink Thinks: Inside the EBA, where Tink’s experts explain and comment on the business of the European Banking Authority’s (EBA) PSD2 API working group, which is helping to ease the implementation process ahead of the September deadline. The series Tink Thinks: Inside the EBA is part of a broader public policy effort at Tink to advocate for third-party providers (TPPs), so that […]
New research published by Open Banking platform Tink has revealed that European financial institutions still have significant concerns about Open Banking impact, according to thepaypers.com.Two fifths (39%) see Open Banking regulation as the biggest current threat to their business model and 56% fear that consumer loyalty towards banks will be reduced as a result of Open Banking. Nevertheless, the report – based on a survey of 269 senior decision makers in […]
Over the last decade, the banking landscape has been irrevocably changed. Digital disruptors, new technologies, new regulations and increasing customer demands mean banks have had to adjust their business models to deal with these new market challenges. Between January and March 2019, 405 global retail banking executives were surveyed by The Economist Intelligence Unit on behalf of Temenos. They were asked about the changes taking place in their industry to […]
PRETA launched today the onboarding process for the Open Banking Europe (OBE) directory, a pan-European, centralised and machine-readable repository for active regulated entities that can perform access-to-account (XS2A) services across Europe, according to finextra.com. The directory is open to Account Servicing Payment Service Providers (AS-PSPs) and their service providers. It provides these providers with a key element for establishing compliance with the Access-to-Account requirements of the revised Payment Services Directive (PSD2). […]
Klarna, one of Europe’s leading payment providers, announces the launch of its own Open Banking Platform. This platform will enable access to more than 4,300 European banks through a single Access to Account (XS2A) API in line with Payment Services Directive (PSD2). Klarna’s „XS2A API is the most established and proven solution that has been developed at scale across markets for almost 15 years through the Klarna Group company Sofort. This platform […]
Last weekend marks a year since the launch of open banking, a government-backed initiative that introduced a secure way for consumers to give financial providers the ability to access their financial information, according to Financial Times. The rules require (UK) banks to share their current account holder data through an integration technology called application programming interfaces (API). These APIs can then be used — with the customers’ permission — by third parties, […]
Libra Internet Bank assessed Allevo’s FinTP-Connect solution, given the requirements of the revised Payment Services Directive – PSD2. The solution achieves centralized management of requests initiated by financial services providers on behalf of the final customer, for banks (s)he collaborates with. „From a functional point of view, FinTP-Connect retrieves these requests, transfers them to the Core Banking system, processes them and returns the legitimately requested responses back to the PISP/AISP […]
Diebold Nixdorf is the latest technology partner at the international fintech conference – Banking 4.0, event dedicated to emerging technologies and their impact on the future developing of financial services (November 27 – Novotel – Bucharest): artificial intelligence, blockchain, biometrics, cloud computing, cybersecurity, conversational economy, instant payments and machine learning. The company’ s representative will talk about “Tokenization, its uses, potential, and security”. “The presentation should introduce tokenization for the […]
Within 12 years time, 80% of financial firms will either go out of business or be rendered irrelevant by new competition, changing customer behaviour and advancements in technology, according to forecasts by Gartner. By 2030, 80 percent of heritage financial services firms will go out of business, become commoditized or exist only formally but not competing effectively, according to Gartner, Inc. These firms will struggle for relevance as global digital […]