Tag: open banking

With Kosma, the Swedish payment provider Klarna is launching its own brand for its open banking function, which is aimed at financial service providers.

With the new Open Banking function (linked accounts), Revolut customers can now link all their bank accounts at Comdirect, Commerzbank, Deutsche Bank, ING-DiBa and Sparkasse in the Revolut app.

Holse spent eight years at the head of SimCorp and is also chairman at SuperOffice and Zenegy.

Revolut has just announced the launch of Open Banking for its over 400.000 retail and business customers in Italy.

Monzo bank has been recently working on a simpler way to move money into the Monzo account from other major UK banks.

Challenger bank Revolut announced the addition of American Express to its Open Banking feature. This allows Revolut retail customers in the UK to connect their American Express bank account to Revolut.

Mastercard has bought the Salt Lake City-based fintech Finicity. With this move, the card issuer aims to strengthen its open banking platform and expand financial services through more real-time access to data.

Revolut has extended its open banking feature to Ireland. This feature launched in the U.K. during February. The partnership with TrueLayer enables customers to add third-party bank accounts to your Revolut account.

Traditional financial institutions have always been resistant to change; after all, managing and reducing risk is essential to running a successful bank. After decades of building processes to minimise risk, innovative digital technologies, like open banking, often face resistance from traditional operations.

Open banking allows financial institutions to share financial information with each other securely.