OPEN, the world’s fastest-growing digital banking enterprise on Tuesday received a go-ahead from the Reserve Bank of India (RBI) for its new cross-border payments product. This comes after OPEN completed the test phase of the second cohort under the RBI’s regulatory sandbox structure themed ‘Cross Border Payments’.

GVC Gaesco is reaffirming its commitment to strengthening the digitalisation process of investment services. As such, the Spanish financial group has signed a key partnership with FNZ, a leading global wealth management platform, under its unique platform-as-a-service model, to develop a new digital solution for Investment Services.

New consumer research from Europe’s leading open banking platform, Tink, reveals that over a quarter (28%) of the UK’s self-employed struggle to access the financial services they require, leading many to believe the current system works against them due to their employment status.

Marijke Koninckx, Chief Product Officer at BankiFi, explores how SMEs have been left behind for too long and how technology is helping to put this right for the banks and their customers.

Moneyhub, the market-leading Open Data and payments platform, is partnering with Pennyworth, a financial planning and banking app,   to redesign digital banking for the aspiring-affluent consumer.
 
Pennyworth, which has applied for a UK banking licence, has developed a unique planning tool powered by Moneyhub’s award-winning APIs. The tool uses a combination of Open Banking, Open Finance and machine learning to turn goals into a customised financial plan and track progress against those targets.

Starling Bank today reports its first full year of profitability. The digital bank swung to a pre-tax profit of £32.1 million for the financial year ending 31 March 2022 from a pre-tax loss of £31.5 million for the period to 31 March 2021. Revenue for the same period to 31 March 2022 was £188 million.

Starling’s previous financial year, to 31 March 2021, covered a 16-month period to reflect a change in the timing of the bank’s financial reporting.

Insurtech Gateway announces the first close of Seed Fund II. This fund will enable them to support another 20 teams over the next 4 years from pre-seed to Series A. The Gateway is on a mission to close the funding gap in early-stage insurtech, and to attract a new kind of founder tackling complex climate and social challenges. The Gateway incubates early-stage founders to de-risk their regulatory and insurance metrics.

OneMarketData, LLC, a leader in tick data management and analytics, today announced the appointment of Peter Simpson as OneTick Product Owner. An experienced technologist with a history of working with the largest banks, brokers, fund managers and exchanges in London and New York, Simpson will be responsible for ensuring OneTick products expand and evolve to keep up with ever-changing customer needs.  

Investment and product development executives Josh Hile and Marshall Dunford announced today the formation of Citizen Mint, a new impact investing platform designed to help investors generate both financial returns and positive societal and environmental impacts.