Know your budget

A sound financial plan starts with knowing what comes in and what goes out of your bank account each month. It sounds simple, but without this foundation it’s difficult to set realistic financial goals. Thankfully there a number of online tools and open banking mobile apps that let you connect your accounts in one place and keep track of your spending. Your savings might have been bolstered in lockdown or you might be spending more than you think.

Develop a personal and financial timeline

Today, Ohpen, the digital banking company, announces it has partnered with global technology services firm, Aspire Systems, to allow its clients to benefit from Aspire’s implementation services. This move gives Ohpen the freedom to innovate with clients, whilst continuing to provide high-quality implementation services. This partnership begins with a focus on the UK market, followed by a gradual global expansion. 

ACI Worldwide, a leading global provider of real-time digital payment software and solutions, today announced that it has expanded its partnership with KNET, Kuwait’s national electronic banking company, to launch a number of new and innovative digital payment services to support its customers during the COVID-19 pandemic.

Tink and American Express have entered a European open banking partnership to improve the onboarding process for new card members.

Temenos (SIX: TEMN), the banking software company, today announced that Curo Fund Services, South Africa’s largest third-party administrator, has gone live with Temenos Multifonds Global Accounting platform, completing the first phase migration of funds from its five legacy systems to a single instance of Temenos’ award-winning funds administration platform. 

PayNearby, India’s leading branchless banking and digital payments network today announced that it has recorded Gross Transaction Value (GTV) worth Rs. 54,000 Crores in FY 20-21, with an exit month GTV 32% higher than the average monthly GTV booked in FY 19-20. The company generated ~Rs. 290 Crores of revenue for its retail partners and about ~Rs. 40 Crores of fee for its banking partners in the same financial year.

Tonik, the first neobank in the Philippines, announced today that it raised US$17M in Pre-Series B funding.  The round comes on the heels of Tonik’s highly successful public launch in March 2021, which saw it secure over 1 billion pesos (US$20M) in retail deposits in under 1 month - a historical record for any new bank launching in the Philippines.

Economists at Commerzbank have raised their 2021 growth forecast for Germany from 3.5% to 4.0%. They expect a strong economic recovery more than ever. “The peak of the pandemic seems to be behind us. More and more counties are loosening restrictions. The rapid pace of vaccinations indicates this as well”, said Chief Economist Dr Jörg Krämer. That means public life in Germany will gradually return to normal.

Leading mortgage technology provider Twenty7Tec today announces that it has completed an APPLY integration with Accord, enabling users of CloudTwenty7 to seamlessly submit applications to Accord without the need for re-keying.

IDnow, the Munich-based ID verification platform, will provide Greentube-owned StarGames.de with customer identification and verification solutions for the brand’s entry into the German market. The integration also ensures Stargames.de is compliant with the Interstate Treaty on Gambling 2021 and Anti-Money Laundering laws and regulations.