Open banking stories - Page 2

OpenPayd doubles growth for the second year, hitting over GBP £40 million ARR, as embedded finance adoption surges. CEO Dimitrova eyes new milestones.

Trustly’s 2023 annual report reveals a 79% surge in transactions, totaling US$58 billion, and a 51% rise in operating profit, driven by its expanded presence and strategic acquisitions in Europe.

Australia’s fintech sector, powered by innovation, technology, and government backing, has surged from AUD $250 million in 2015 to AUD $45 billion in 2023.

First AML has partnered with Open Banking tech platform Armalytix to boost Source of Funds and Source of Wealth capabilities for large conveyancing firms.

Trustly's Azura checkout technology has transformed consumer payment habits across Europe, boosting spending, frequency, transaction speed, and conversion rates.

GoCardless has appointed Jolawn Victor as Chief Growth Officer, leveraging her vast experience in tech and growth marketing to support its global expansion.

Despite the introduction of Consumer Data Right (CDR) five years ago, 68% of Australians remain unaware of the Open Banking concept, according to a survey by payment tech company, Waave.

Waave launches Waave Wallet, a novel payment method using biometric security and real-time account transfer; a move to tackle cyber breaches and reduce Australia's AU$3 billion in annual merchant fees.

Global open banking leader, Ozone API, has formed a strategic partnership with Thistle Initiatives to help financial institutions achieve compliance with the forthcoming Third Payment Services Directive (PSD3).

Westpac partners with NextGen to streamline home loan applications across its brands via Open Banking, marking a significant innovation in Australia's banking sector.

Frollo, Australia's Open Banking service provider, urges a collaborative strategy to enhance the data quality in the nation's Consumer Data Right framework, supporting superior financial outcomes.

Luke Trayfoot, former PayPal and MangoPay executive, takes on role as Chief Commercial Officer at Brite Payments, heading the effort to expand their real-time bank-to-bank payment solutions across Europe.

Australian mortgage broking industry pivots towards Open Banking, with the number of brokers using NextGen's solution tripling, amid potential legislative changes.

PPRO has bolstered its leadership, appointing Selene Brett as Chief Legal, Risk and Compliance Officer, and Marc Kuzak and Massimiliano Conte as Legal and Compliance Director respectively to bolster governance.

Craggle launches AI tool revolutionising home loan refinancing, aims to simplify the process and save Aussies millions annually.

Banking without borders is pivotal for 40% of UK adults considering relocation abroad amid concerns about financial difficulties.

Liz Oakes, former Mastercard executive and payments industry veteran, joins the board of Mangopay, the payment infrastructure provider, as Non-Executive Director, as the firm embarks on a growth phase across Europe.

Efficiency and open banking lead 2024 lending trends as lenders target cost reductions, superior customer experiences, and faster approval times, utilising technological prowess and expansive data use.

Volopa partners with Open Banking API provider, Yapily, aiming to simplify the payment process for finance teams through seamless connectivity using innovative open banking technology.

Waave and Gr4vy partner to introduce the 'Pay by Bank' solution for retail outlets in Australia, providing a safe and secure payment alternative.