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Canadian credit union, FirstOntario Credit Union , has strategically collaborated with API developer Flinks and paytech Everlink to fortify its open banking services in anticipation of Canada’s open banking framework scheduled for rollout in 2025. Read more- https://lnkd.in/dmRcQJR9 #FirstOntario #Innovation #creditunion #OpenBanking #FlinksEverlink #Collaboration #FinancialEmpowerment #Digitaltransformation #canada #Fintech #ConsumerDrivenBanking #FinancialInnovation #financeTrends

🚀 Open Banking is Trending in the UK 📈 In January alone, the UK saw a staggering 14.4 million Open Banking payments— a remarkable surge from 8 million during the same period last year. As I reflect on this incredible journey, it's hard to believe it's been almost one year since I joined Tink. It's fantastic to witness this level of adoption in such a short period of time, underscoring the immense potential of Open Banking to drive innovation and propel us into the future. Curious about the full scope of Open Banking statistics for January? Dive into the details here: https://lnkd.in/e9cesJ7m #OpenBanking #Innovation #payments

Open Banking has now grown to over 10 million users. When I first joined Bud I remember attending the Open Banking Expo in London in October 2022 (just happened to be the day Liz Truss resigned so stuck in my memory) that the 8 million milestone was hit. To have grown by 2 million users in 21 months is a fantastic achievement and a testament to how Open Banking can support financial services. https://lnkd.in/eQXFp6i7 #openbanking #fintech

The cat’s officially out of the bag… and we couldn’t be more excited! We’re excited to share that BlinkPay has now secured commercial agreements with all four of the major banks in Aotearoa—this includes our latest agreement with ANZ! This is a huge milestone that means we’re about to make payments faster, easier, and more direct for merchants and their customers across the country. In just a couple of weeks, we’ll be flipping the switch on our final integrations, and when that happens, any merchant offering Blink PayNow will let customers (who bank with Bank of New Zealand, ASB Bank, Westpac New Zealand or ANZ) pay straight from their bank account to the merchant’s account. Simple, seamless, and secure—just the way payments should be. These agreements aren’t just about getting API access—they’re proof that we’ve met the high standards of New Zealand’s biggest banks and are trusted to deliver. As Open Banking continues to gain momentum, we’re pumped to be leading the charge and bringing more competition and innovation to the financial services landscape here in Aotearoa. Open Banking is here, and BlinkPay is ready to make it work for everyone! https://hubs.li/Q02L-Lzl0

𝐔𝐧𝐯𝐞𝐢𝐥𝐢𝐧𝐠 𝐊𝐞𝐲 𝐅𝐢𝐧𝐭𝐞𝐜𝐡 𝐈𝐧𝐟𝐫𝐚𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞 𝐀𝐥𝐥𝐢𝐚𝐧𝐜𝐞𝐬: 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐢𝐧𝐠 𝐂𝐨𝐫𝐞 𝐁𝐚𝐧𝐤𝐢𝐧𝐠, 𝐎𝐩𝐞𝐧 𝐁𝐚𝐧𝐤𝐢𝐧𝐠, 𝐚𝐧𝐝 𝐋𝐞𝐧𝐝𝐢𝐧𝐠 🤝 4️⃣ recent alliances are setting the stage for groundbreaking advancements in core banking, open banking, and lending. Here's a deep dive into these transformative collaborations and their implications: ➊ Thought Machine & Mastercard's alliance is set to revolutionise core banking and payment capabilities. Thought Machine's cutting-edge core banking platform, combined with Mastercard's extensive payment network, promises high-quality, resilient financial services. This partnership will enable financial institutions to enhance their digital banking offerings, ensuring seamless, efficient, and secure transactions. ➋ Tink and Adyen have joined forces to introduce Pay by Bank in France, a service that enables A2A payments with zero data entry and fewer redirects. This collaboration leverages open banking APIs to simplify payment processes, reducing friction and enhancing user experience. This is a significant leap towards more efficient and secure payment solutions. ➌ Nova Credit Credit & RBC's partnership addresses a crucial challenge for immigrants: accessing financial services without a domestic credit history. By allowing eligible clients to utilise their international credit history, Nova Credit and RBC are facilitating smoother financial integration for newcomers in Canada. This initiative not only supports financial inclusion but also strengthens the credit ecosystem by incorporating global credit data. ➍ Moldindconbank's collaboration with Salt Edge for a full-stack Open Banking Compliance solution is a testament to the growing importance of regulatory adherence. This partnership ensures that Moldindconbank meets local open banking requirements, paving the way for secure and compliant financial services. It highlights the critical role of compliance in fostering trust and innovation in the open banking landscape. _________________ 📈 There's a growing opportunity to develop solutions that leverage open banking and core banking platforms to create unique and valuable financial products and services. 🆕 Moreover, open banking is rapidly changing the way financial data is shared. This is opening up a world of possibilities for new and innovative financial products and services. For a deeper exploration of how similar partnerships are leveraging open banking to create groundbreaking financial products and services, check out our blog here 👉: https://lnkd.in/ggFnPmQx #fintech #fintechinfrastructure #openbanking #openfinance #payments #corebanking

Brite Payments has joined the The Payments Association EU which underlines Brite’s commitment to collaboration within the industry! 🤝 💶 🇸🇪 🚀 One of Sweden’s fastest-growing fintechs, Brite will be expanding its presence in markets across Europe in this year 💪 💸 By collaborating with The Payments Association, Brite aims to support the Association’s mission strengthen the broader payments sector. 👨💻 “Instant payments are shaking up the status quo in European payments and emerging as one of the most promising use cases for the open banking framework,” said Thibault de Barsy, Vice-Chairman & General Manager, The Payments Association EU. “Brite Payments are championing this emerging category of payments and we are thrilled to welcome them to The Payments Association EU.” Find out more on the link below! 👇 Lena Hackelöer 🌥Max Wolke Bo Liljefors Alexander Kassai Paul Myatt Harald Walden Fredrik Strömqvist Lisa Calderwood Daniel Apler Nikita Balanov Christopher Taine Stefania Casciari Janine Kaiser #payments #britepayments #paymentsecosystem #instantpayments #europe #paymentsassociation #openbanking #fintech #fintechnews #paymentstechnology #openbankinginfrastructure

🥳 An Open Banking Milestone! Over 10 million UK consumers and small businesses are now reaping the benefits of open banking technology. In just six and a half years, open banking has created a £4 billion ecosystem and around 5,000 skilled digital jobs, according to Open Banking. ⏲️ And coming soon: the UK’s new Digital Information and Smart Data bill. Read more here ➡️ https://ow.ly/AF8p50SPvAt. #OpenBanking #FinTech #FinancialInnovation #Payments

Advancing #DigitalBanking: Openbank's path to success! #Openbank, the pioneering digital banking arm of Santander, has been shaping the European fintech landscape since 1995 with a legacy of innovation and customer-centricity. Today, boasting a customer base of over 2 million and deposits exceeding $18 billion, Openbank stands as a testament to trust and excellence in digital finance. Distinguished by its commitment to innovation, Openbank offers a comprehensive suite of financial products tailored to modern needs, including current accounts, advanced investment services like robo-advisory, and open platform brokerage. Santander’s Digital Consumer Bank success is also attributed to strategic alliances and innovative leasing and subscription services, which have collectively spurred a 5% increase in new lending. This success underscores the robust financial standing of Santander, with significant earnings from key markets including the Nordic countries (€137 million), the UK (€96 million), France (€94 million), and Germany (€84 million). These contributions have played a pivotal role in the bank's ability to navigate the competitive landscape of digital banking. Despite industry challenges, Openbank remains resilient, having navigated a 7% profit decrease in 2023 by sharpening focus on pricing strategies, strengthening customer #deposits, and maintaining a commendable 0.54% cost of risk. Openbank is expanding into the U.S. and Mexico, introducing its advanced digital banking solutions to new markets and paving the way for global fintech innovation. Join us in celebrating Openbank's journey of growth and innovation in digital banking: https://lnkd.in/dcurrf3f Let's redefine the future of finance together!

New report is out. IMO, Open banking is going to be the key differentiator how businesses provide personalised services and drive outcomes. - Enhanced customer experiences - Increased efficiency and reduced costs - New revenue streams and business models - Competitive advantage in the market

🚀 Exciting Milestone for Tyfone & Star One Credit Union! 🚀 We're thrilled to share our journey with Star One Credit Union as they pioneer the FedNow instant payments service. As one of the early adopters, Star One has successfully completed over 8,200 transactions, showcasing the incredible impact and efficiency of instant payments. Our collaboration began in 2011, and together, we've introduced cutting-edge solutions like the Instant Pay service, transforming how members interact with their finances. Instant Pay, integrated with Tyfone's nFinia digital banking platform, represents a leap forward in banking technology, offering real-time payment capabilities that are reshaping the financial landscape. 🌐 Connection and Innovation By facilitating a direct connection to the FedLine Solutions network, Tyfone has enabled Star One not only to send but also receive instant payments, setting a high standard in the industry. Our platform's flexibility and robust security measures, including innovative fraud mitigation tools, ensure that these transactions are safe and reliable. 🏦 Empowering Community Banking This initiative is more than just a technological advancement; it's about empowering community banks to offer comprehensive, modern services that meet today's consumer demands. Tyfone's commitment to enhancing digital banking experiences is evident as we continue to support financial institutions in their transition to more efficient and secure payment methods. 🔗 Stay tuned for more updates on how Tyfone is driving innovation in digital banking and helping institutions like Star One Credit Union deliver superior service to their members. #Tyfone #DigitalBanking #InstantPayments #FedNow #Innovation #FinancialTechnology #CreditUnion Read on: https://bit.ly/4aFo57z