At least for the foreseeable future, the big players in banking aren’t going anywhere and they remain some of the most trusted institutions in our society, despite what people might say (very much a case of put your money where your mouth is). Despite a massive rise in purely online banks, mobile banks, and the multitude of fintechs appearing on the market, when it comes to savings, mortgages, car loans, and debit cards, the incumbents are still sitting pretty.

89% of airline, supermarket and subscription economy merchants are primed for Open Banking and have assessed the impact it will have on their business a new piece of research commissioned by Nuapay, a Sentenial company, has revealed.

While the financial services market has been slow to swing behind Open Banking since the launch of PSD2 a year and a half ago only 11% of merchant respondents admitted that they have not yet assessed the impact Open Banking will have on their business, with just 2% of them believing that Open Banking would have no impact.

With retailers expected to lose $130 billion to online fraud over the next five years, there is increasingly urgent demand for tighter solutions and greater protection for both consumers and digital commerce merchants.

But in the scramble to combat fraudulent activity, the industry has created an arguably greater challenge – false declines.

What is a false decline?

Yolt, the smart money platform has today announced it will continue its mission to change the financial landscape across Europe by supporting open banking capabilities for three new clients. The Yolt for Business API, which launched in February this year, offers businesses a single API that enables account information services (AIS) and payment initiation services (PIS), along with an ambitious list of future features - enabling businesses to achieve their goals quickly, easily and affordably.

 Envestnet | Yodlee (NYSE: ENV), a market leader in data aggregation and a leading data analytics platform for digital financial services, today announced a new developer experience break-through will be available in the UK by the end of June.  This experience delivers an industry-leading combination of enhanced performance, best-in-class developer tools, and high-quality financial data available on a massive scale across banking and wealth management.

 Nuxeo, the leading cloud-native Content Services Platform (CSP), today announced the immediate availability of Nuxeo Insight Cloud, a powerful artificial intelligence (AI) offering that enables enterprises to employ machine

 Adyen (AMS: ADYEN), the payments platform of choice for many of the world’s leading companies, today announced the expansion of its payment network to a number of major African markets, further increasing its capability to offer key payment methods around the world through a partnership with Cellulant – Pan-Africa’s leading financial technology company.

A new online, automated management service for businesses that use contractors and freelancers launches in the UK today (28 May) to help make the processes between businesses and freelancers flawless and reduce paperwork levels. Flime.com offers a new cloud-based service that enables businesses to organise and manage their freelance suppliers seamlessly, as though they were in-house staff. It ensures all finance processes are fully compliant with tax legislation and business regulations and any of the administration associated with freelance work is minimised.

​Open banking platform Tink today announced a strategic investment from PayPal (NASDAQ: PYPL) to continue its expansion across Europe. With this investment, PayPal has agreed to partner with Tink to leverage its Account Aggregation technology to improve product experiences for PayPal customers. 

Lexmark, a global imaging solutions leader, today announced the availability of Lexmark Cloud Print Infrastructure (CPI), a complete as-a-service solution that utilizes IoT and cloud technologies to take its industry-leading managed print services (MPS) offering to a new level.