Remove Payment Initiation Remove Service Provider Remove Third-Party Service Provider
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FIs Embrace FinTech Options To Bolster Business Banking

PYMNTS

This week's look at the latest in open banking and bank-FinTech collaboration finds financial institutions (FIs) exploring both partnerships and acquisitions to strengthen their offerings for corporates, while third-party service providers have also boosted their data-sharing capabilities to empower those financial service provider tie-ups.

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Open Banking Rolls Out Payments Initiation API

PYMNTS

bank-funded entity that was mandated by the Competition and Markets Authority to provide new ways for customers to share their financial data with non-bank providers, has released an API specification for accounts and transaction information and payments initiation. Open Banking, the U.K.

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Multi-Bank Connectivity Puts The Pressure On Treasury Tech

PYMNTS

But with expectations that more corporates will outsource functions like multi-bank connectivity, Lutz said it’s up to these third-party service providers — especially banks — to be up for the task of managing growing complexity resulting from regulations, faster global payment initiatives, and intensifying data integration needs.

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KPMG: 2018 Was The Year of Democratization

PYMNTS

While traditionally, banks have controlled the infrastructure, hardware and operating systems for financial services, new entrants may have the agile infrastructure and innovative propositions to personalize to meet individual consumer needs.