Banking

Kingdom of Bahrain Eyes Global Leadership in Open Banking

Signalling the pace at which the Kingdom of Bahrain is embracing the new era of open banking, in just one week the Kingdom’s regulator, the Central Bank of Bahrain, has mandated open banking adoption for Bahraini retail banks that provide online banking services to their customers and provided an in-principle confirmation to the first domestic open banking infrastructure provider, Almoayed Technologies. Read more »

Nordic Finance chooses Tieto’s leasing platform to start offering leases and disrupt the leasing market

Tieto has signed an agreement with Swedish leasing broker Nordic Finance to provide a leasing system that disrupts conventional processes and gives customers a smoother experience through digitalisation and automation. Read more »

Ecobank, the Pan African Bank, appoints MFS Africa Ltd as Digital payment partner

Ecobank (www.Ecobank.com) The Pan-African bank announced today the appointment of MFS Africa (www.MFSAfrica.com) as Digital payment partner enabling cross-platform payment services for Ecobank account holders. The partnership allows Ecobank customers to send and receive money to and from over 170 million mobile money users through an integration with MFS Africa that covers all Telcos in the MFS Africa Hub. Read more »

Nordea announces organisational changes

Nordea Bank Abp (Nordea) has decided to further increase focus and strengthen execution within risk and compliance by consolidating resources in these areas. Two roles in Group Executive Management will be changed.  Read more »

iwoca adds Barclays and HSBC to Open Banking connections

 iwoca, the UK’s fastest growing small business lender, today announces it has connected to Barclays and HSBC banks under Open Banking. This expands the number of Open Banking connections offered by iwoca to three, including Lloyds Bank, and will enable more than 60 percent of the lender’s customers to take advantage of the Open Banking service. Read more »

Equifax comments: Momentum building for Open Banking in 2019

Jake Ranson, Banking & Financial Institutions Expert and CMO at Equifax UK, believes consumers will begin experiencing the full benefits of Open Banking in the year ahead: January 2019 marks the first anniversary of Open Banking, and we can expect it to play a central role in the banking sector for the year ahead. As more companies evolve the new technology into live customer journeys, consumers will really begin to experience the full... more Read more »

Data breaches threaten customer trust in Open Banking

TLT’s Opportunity Knocks report on Open Banking, which draws on research involving 130 senior decision makers across UK financial services, highlights a growing tension between data sharing – the basic tenet of Open Banking – and high profile data breaches, as customers grow increasingly aware of and sensitive to data security issues.  Read more »

Sberbank taps POS lending market

Sberbank announces its entrance on the POS lending market with a new product, Purchase on Credit.  Sberbank is launching the Purchase with Sberbank lending marketplace to develop a POS product line. Read more »

AAOIFI and Path Solutions sign agreement to pursue and maintain certification

The Accounting and Auditing Organization for Islamic Financial Institutions (“AAOIFI”) and Path Solutions signed an agreement for the renewal of certification for Path Solutions’ iMAL Islamic core banking platform to comply with AAOIFI’s relevant standards.  Read more »

IDC urges Middle East's Banking & Finance industry to enhance provision of digital customer experiences

As the open banking movement gathers momentum and the use of artificial intelligence (AI) continues to proliferate across the industry, 25% of financial institutions worldwide will be capable of processing transactions initiated by third-party digital personal assistants by 2022. Read more »

thinkmoney Chooses Token for PSD2 Compliance

Turnkey open banking platform provider, Token.io Limited, has been chosen by UK financial institution thinkmoney to deliver PSD2 compliance and open banking capabilities before the first Regulatory Technical Standards (RTS) deadline in March. Read more »

Token and Almoayed Technologies Partner to Deliver Open Banking Across MENA Region

Turnkey open banking platform provider, Token.io Limited, today announces a partnership with Almoayed Technologies, the MENA region’s leading technology infrastructure development company, to accelerate open banking across the Arabian Peninsula. Ahead of the introduction of open banking regulations in Bahrain, announced yesterday*, Almoayed Technologies and Token have been working together to enable fast and simple compliance for the Kingdom’s... more Read more »

New research by MagnaCarta and Klarna identifies four key issues to dominate fintech

“Removing Roadblocks: The New Road of Fintech”published today by MagnaCarta in partnership with Klarna identifies four key elements critical to the future development of fintech - Relevance, Openness, Automation and Data. Read more »

Danske Bank rolls out support for Google Pay

Danske Bank has announced that from today, its customers will be able to use Google Pay to pay in shops, online, in apps and more. This makes Danske the first of the big four Northern Ireland banks to support the main contactless payment services currently available. Read more »

Yes Bank reveals APIs for corporate debit mandates

YES BANK, India’s 4th largest private sector bank announced successful launch of end-to-end process for corporates to accept NACH Debit mandates from its customers through Net banking. With the Indian payment industry entering the next level of transformation with the National Payments Corporation of India’s (NPCI’s) National Automated Clearing House (NACH), YES BANK aims to fully support the new clearing service aiding corporates with APIs to... more Read more »

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