GUEST RESEARCH: Envestnet | Yodlee surveyed leaders from different financial sectors and gleaned from them that consumers will benefit from open banking. However, with this opportunity, they are also aware of the risks involved.
Community legal centre Financial Rights Legal Centre has called on the Australian Government to respect the rights of joint bank account holders to control their own data.
Australian biggest customer-owned bank, Heritage Bank, has teamed up with professional services organisation Ernst & Young Australia (EY) to deploy a new Open Banking solution.
Envestnet | Yodlee Credit Accelerator gives a comprehensive and accurate view of a consumer’s financial position, allowing for Financial Institutions and FinTechs to meet Responsible Lending guidelines.
More than 50% of US consumers wanting to change banks would consider a digital-only bank, according to a new survey that also reveals the same findings reflected in a similar UK survey.
Regional Australia Bank has become the first accredited Data Recipient under the Consumer Data Right (CDR), the Australian Competition and Consumer Commission legislation designed to help bring about an era of Open Banking in Australia.
Intuit QuickBooks Australia has been approved as an accredited data recipient of CDR data at the ‘unrestricted’ level by the competition watchdog, the ACCC.
Open Banking is about institutions making customer data available in a form that allows those customers – whether individuals or organisations – to share it with other players.
Cybersecurity firm Trend Micro is claiming an Australia-first launch of its Consumer Data Right (CDR) Open Banking automated compliance check which it says is designed to simplify customers’ ability to create and launch compliant, secure Open Banking services.
The Commonwealth Bank has announced the launch of the first phase of Australia's Open Banking regime for sharing consumer data and says it will lead to delivery of better products and services.
The total number of open banking users who share data via open banking APIs to aggregate their bank accounts and access new services, is forecast to double by 2021, according to a new global research report.
Mobile banking and financial services app Moneytree has closed a Series C funding round with an issuance of new shares through third-party allotment including funds of Fidelity International, to bring total funding to $45 million since the company’s founding in 2012.
Open banking promises innovation and competition, more seamless and frictionless user experiences, according to newly published research by the Emerging Payments Association Asia (EPAA).
Mary McHale, Financial Services Director, Equinix Asia-Pacific
GUEST OPINION: SPONSORED NEWS. The emergence and increasing adoption introduction of new digital payment methods, such as ‘buy now, pay later’ platform AfterPay and Open Banking payments platfoms that allow for real time payments like SplitPay alongside better known digital wallets like Apple Pay, are propelling Australia rapidly ahead as it moves toward a cashless, cardless society.
Listed fintech company Identitii has announced it has been selected by the Australian Competition and Consumer Commission (ACCC) as one of just 10 companies to test the Consumer Data Right (CDR) ecosystem, which will enable Australia’s incoming open banking regime scheduled to go live from February 2020.
The global transaction volume of non-cash payments is growing rapidly, including in Australia, with non-cash transactions booming and competition flourishing, despite many banks remaining reluctant to embrace open banking via data sharing, ecosystem partnerships and open platforms, according to a new report.
Global payment services provider SWIFT has published a new API standard for the pre-authorisation of funds which it says paves the way for further innovation in financial services enabled by Open Banking.
The era of open banking in Australia will be eased in from Monday, and will force major banks to surrender their hold on customers' banking data to the customers themselves, the deputy chief executive of the branchless digital outfit, Volt Bank, says.
IT solutions provider Unisys has released the latest version of its Unisys Elevate omnichannel banking software platform which is designed to support the move to open banking.
Global corporate lending platform Trade Ledger says it has warned the Australian Government of substantial weaknesses in its proposed Open Banking implementation plan, when compared to the global best-practice model.
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