“In three short years, Open Banking is set to ‘completely or significantly change how traditional financial services are delivered,’ even though, according to that same study, an astounding 98% of financial institutions are unprepared for Open Banking regulations. Open Banking is much needed by consumers who split meals with Venmo, invest savings via Robinhood, and…
Tag: open banking
Core banking on the cloud, the catalyst for innovation, agility and efficiency
“As new technologies open up data streams to and from third parties and emerging startups, banks will be able to offer their customers a range of new products, services and insights that will not only optimise customer experiences, both online and offline, but will create highly personalised, customised relationships. In financial services, Banking-as-a-Service (BaaS) platforms…
5 Financial Technology (Fintech) Trends to Watch Out for in 2021 and Beyond
“According to technological growth statistics, there are approximately 4.88 billion mobile phone users across the globe as of January 2021. 62% of the world’s population owns mobile devices. Over 69 million people use mobile payment services. Not only this, but also in the United States, in-store mobile payments are reaching $128 billion in 2021. The…
Axway: 48% of Americans have never heard of ‘open banking’
“48% of Americans have never heard of the term “open banking,” and only about half of those actually know what open banking is, according to a new report by Axway. People do still trust and need their banks, as 81% said they feel their banks offer all the financial services they need in their daily…
With open banking on the horizon, the fintech-SME love story is just beginning
“The fintech sector has been hugely successful (and hugely profitable) for much of the last decade, and even more so during the pandemic. But it might come as a surprise to learn that many in the industry believe that the story is just beginning and the sector is poised to achieve much more, with fintech’s…