open banking Archives - Page 2 of 3

Banks are challenged to evolve from the Open Banking approach towards an Open X mindset – global survey

November 1, 2019 / Nocashevents / Comments Off

Banks must collaborate with start-ups to remain relevant as the financial ecosystem evolves from ‘Open Banking[1]’ to ‘Open X[2]’ Retail banks are struggling to deliver a positive last-mile experience[3] as customers demand more comprehensive and personalized banking, according to the World Retail Banking Report (WRBR) published today by Capgemini and Efma. “In an era of rising consumer expectations, banks are challenged to offer their customers a consistent engaging experience across all channels – branch, web and […]

Let’s talk about PSD2 and open banking. The European Banking Authority is coming to Banking 4.0

October 4, 2019 / Nocashevents / Comments Off

At this moment, when a series of central banks and competent national authorities have introduced a transitional phase and new terms for PSD2 compliance, from the perspective of strong customer authentication (SCA) in the online environment, the market needs guidance and answers to a series of questions. At Banking 4.0, The European Banking Authority (EBA) will open the panel dedicated to regulatory authorities and relevant industry associations, with a keynote […]

LUXHUB launches best in class API Product for account aggregation. The company is coming to Banking 4.0

October 1, 2019 / Nocashevents / Comments Off

After developing one of the leading European Open Banking platforms allowing banks to smoothly comply with the PSD2 regulation, LUXHUB unveils LUXHUB One, „a fast and simple solution for banks and third-party providers to leverage Open Banking without experiencing the amount of work involved to implement fragmented APIs.”, according to the press release. LUXHUB One represents an integration layer that allows access to any financial institution via a unified API, […]

Salt Edge Partner Program – a door to open banking without extra investment. Salt Edge is coming to Banking 4.0

September 30, 2019 / Nocashevents / Comments Off

Via Salt Edge Partner Program, companies can start using real-time data from across all the EU, in just 15 minutes. Salt Edge handles all the technical, security, compliance matters so that companies can focus on providing services to their clients. Canada-based Salt Edge announced that it now offers a simple solution which enables companies to get instant access to open banking channels in a compliant way, without having their own PSD2 licence. Salt […]

Open banking, the payments industry and BigTech challengers: „in a market defined by innovation, many incumbents are more fearful than optimistic about the pace and direction of change”, CapGemini report

September 17, 2019 / Nocashevents / Comments Off

As global non-cash transactions boom and competition flourishes, many banks remain reluctant to embrace Open Banking via data sharing, ecosystem partnerships and open platforms, with multiple incumbents still being cautious of change. Instead, they perceive Open Banking as a potential challenge when it is a necessity for improved customer experience and retention in the long-run. That’s according to Capgemini’s World Payments Report 2019, which tracks and analyzes non-cash transaction volume, regulatory […]

Banks and TPPs provide update of their joint PSD2 task force to the European Commission

September 10, 2019 / Nocashevents / Comments Off

Following the Joint Statement between the ECSAs and TPP associations, banks and TPPs now write to provide the European Commission with an update from the Joint PSD2 Task Force. In the Joint Statement, banks and TPPs agreed on some topics, together with progress made so far: 1. The parties agree to call upon ASPSPs to provide contingency relevant documentation in their developer portals, more specifically on TPP identification and use of […]

Salt Edge integrates with 400+ open banking APIs. The global fintech company is coming to Banking 4.0

September 5, 2019 / Nocashevents / Comments Off

As more and more banks open their APIs before the September 14 deadline, Salt Edge has added another one hundred to the list of its connected open banking APIs in the EU, making it 400+ integrations. Gaining more speed along the open banking trajectory, just in the last two weeks Salt Edge has added a hundred more APIs and after the big number of 300+ in August has already integrated with 400+ […]

The European body representing the interests of payments service providers for merchants calls for 18-month extension to SCA rules under PSD2

July 15, 2019 / Nocashevents / Comments Off

The European trade association (EPSM) fears that the uncoordinated delegation of the migration plan responsibilities to national competent authorities will lead to a very heterogeneous situation within the European Union. Therefore, EPSM recommends that „all regions should agree an additional timeframe of 18 months for standard applications, as well as up to 36 months for challenging applications, such as those in the travel and hospitality sector.”, according to a press release. […]

EBA report assesses impact of FinTech on payment institutions’ and e-money institutions’ business models

July 9, 2019 / Nocashevents / Comments Off

Most institutions are adapting their business models to cope with the competitive pressure and embrace PSD2 changes, while some of them may in parallel embrace the positive impact of FinTech. In the medium to long term, a number of factors will define the transformation of institutions’ business models: (i) the progress of Open Banking and APIs, facilitated partially by PSD2, (ii) the level of implementation of innovative technologies and (iii) […]

Tink analysis: Bank APIs not ready for PSD2 deadline. The only way forward is for national authorities to create an extended transition period.

July 5, 2019 / Nocashevents / Comments Off

Could the poor quality of bank APIs put the success of PSD2 in jeopardy? A Tink analysis finds that none of the tested bank APIs released by the penultimate 14th June deadline meet the quality requirements laid out by PSD2 regulators – potentially creating a “cliff edge” scenario in September that compromises the financial services for millions of consumers. As a third party with a PSD2 license, we’re required to use all […]