British bank Barclays is calling for more stringent regulation of all buy-now-pay-later (BNPL) products following the release of new research which suggests the lack of consistent affordability assessments among short-term interest-free credit providers has led shoppers to take on more debt than they can afford to repay.
Open Banking infrastructure provider Yapily has launched its first listing on AWS Marketplace and plans to implement a “roadmap” of additional features onto the digital catalogue in the coming months.
London-based start-up Banked has announced the completion of a $20 million Series A funding round led by Bank of America (BofA) and Edenred Capital Partners.
Open Banking is a regulation designed to put you in control of your own transaction data. It requires banks to let you share your data with other banks and third parties so they can help you manage your accounts.
The challenges lenders face are numerous. And achieving sustainable profitability is difficult since customers are less loyal than in the past, regulation more stringent and the economic outlook still uncertain.
Leading online betting company Novibet has teamed up with fintech company Citizen to make gaming transactions safer, faster and effortless.
The funding will enable GoCardless to accelerate its growing footprint in the open banking space through both product and geographical expansion as it targets becoming the world’s leading network for direct bank payments.
Payments platform Modulr has formed a strategic partnership with Ripple, a real-time settlement system providing blockchain solutions, to facilitate seamless payments into the UK and Europe.
All of the UK’s top 10 banks improved their average Open Banking API response times between 2020 and 2021, with Barclays the most improved, according to the latest API insights data released by Yapily.
Banks that go down the route of a large-scale “tech transformation programme”, as opposed to adopting an “incremental approach” to tech change, are taking on far more risk and could fall into a “legacy trap”, according to panellists speaking as part of an Open Banking Expo live debate.