Displaying items by tag: Open banking

Payments technology and Open Banking company Waave has announced the introduction of the Waave Wallet to house its upgraded Pay by Bank product, a real-time account-to-account payment method which now features “industry-leading” biometric security access - a first for payment methods in Australia.

Open Banking payment technology provider Waave has announced a partnership with global payments orchestrator, Gr4vy, to introduce its Pay by Bank solution to major merchants.

Australian fintech Waave has launched Wendi, which uses Open Banking to show the user all their subscription expenses.

New payments company Waave thinks its Pay by Bank service will provide the lowest cost way of making payments in Australia, while being simple and secure.

The peak body for the Australian financial services, technology and innovation FinTech industry, FinTech Australia and FData ANZ, a not-for-profit global association for financial services companies operating in Open Banking and Open Finance, are calling on the ACCC to intervene in a decision made by bank ING to change its consumer data right (CDR) consent solution.

Data aggregation and analytics platform Envestnet | Yodlee onboards Australian personal finance financial wellness and budgeting app WeMoney as its first existing customer to move from traditional data aggregation to Envestnet | Yodlee’s fully accredited and active open banking solution Fastlink 4.

GUEST OPINION: Australia is progressing steadily with an open banking rollout. The Big Four banks – CBA, Westpac, ANZ and National Australia Bank – introduced open banking in July 2021, and other banks and financial services are expected to follow in 2022. According to many fintechs, however, the introduction is going slower than expected, and they are pushing financial markets to open their banking services online by signing additional data holders.

Australian Open Banking provider Frollois partnering with customer-owned bank, Beyond Bank, using Frollo’s CDR gateway to improve multi-banking and lending and aimed at deliver ing better customer outcomes.

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.

Data aggregation and data analytics platform for digital financial services, Envestnet | Yodlee, has qualified with the ACCC as an Accredited Data Recipient under the Consumer Data Right (CDR).

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 announced completion of integration and deployment of Biza.io’s Consumer Data Right (CDR) solution in just three months, enabling participation in information sharing with the Big Four banks through the new open banking system which went live in July.

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.