Open Banking RSS

All but one of 100 payments executives at large banks said their bank plans to make major investments in Open Banking initiatives by 2020, according to the results of a global study by Accenture. Open Banking is an emerging service model that allows customers to share access to their financial data with non-bank third parties, [...]

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Nets, the Nordic digital payments specialist, and OpenWay Group, the leading digital payment software developer and vendor, have published a white paper for stakeholders seeking to monetize from PSD2 and open banking. The paper is entitled “PSD2 Consumer Solution: for payment players adopting PSD2 as a step towards Open Banking services & revenue streams”. It explores [...]

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Although banks and financial institutions around the world are faring relatively better than their recent past, competitive pressure from traditional rivals and emerging competitors are tightening margins, and impacting profit across both retail and business banking units. The banking and finance industry is increasingly being driven by expectations set by the “GAFAs”, (Google, Amazon, Facebook [...]

The post 2018 business banking trends and outlook appeared first on Payments Cards & Mobile.

Fundamental shifts in consumer behavior, the emergence of new technologies and an evolving regulatory landscape means the payment trends in the payments ecosystem are poised for unprecedented transformation in 2018. The demand for safer data, faster payments and better experiences presents great opportunity, but also significant challenges – writes André Stoorvogel, Director, Product Marketing in the [...]

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Under assault from regulators since 2008 and distrusted by sceptical consumers, the Financial Services (FS) industry is still trying to fix past misdeeds.  But in the interim, technological advances have changed the landscape forever. While FS firms were focused on IT, regulations and upgrading core banking systems, technology firms were busy changing the relationships between [...]

The post The future of Financial Services – what will it take to live long and prosper appeared first on Payments Cards & Mobile.