Payments News

On The Web

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Deals

Visa backs open banking and compliance platform Railsbank

“Railsbank , the open banking and compliance platform, has picked up further investment, following the company’s $10 million Series A in September 2019. This time backing comes from Visa — a strategic investment, if you will — along with Global Brain, a venture capital firm based in Tokyo, Japan. The exact amount isn’t being disclosed, […]
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Deals

Banked picks up £2.35M seed to use open banking for account-to-account payments

“Founded in January 2018 and exiting beta last month, Banked has built account-to-account payment software that lets consumers, businesses and banks process payments significantly cheaper than older payment methods, such as card payments. By using open banking/PSD2 to initiate payments taken directly from a payee’s bank account, the fintech is able to charge just 0.1% […]
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Deals

Open banking fintech Yapily raises $13M Series A

“Yapily , one of a number of fintech startups that offer an opening banking API to let enterprises, such as financial service providers and merchants, connect to banks, has raised $13 million in Series A funding. Leading the round is Lakestar, which is also a backer of fintech unicorn Revolut. Existing investors HV Holtzbrinck Ventures, […]
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Deals

Nigeria’s Okra raises $1M from TLcom connecting bank accounts to apps

“With 54 countries, 1.2 billion people and thousands of relatively young startups, there are a lot of moving parts in Africa’s fintech space. Similar to U.S. company Plaid, Okra is shaping a platform that connects accounts and financial data to banking apps into a revenue generating product. With Africa’s largest population of 200 million people, […]

On The Wires

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Providers

Inlet Joins Financial Data Exchange (FDX) to Strengthen Customer Control of Financial Data

“Inlet, a secure eBill presentment and delivery platform that provides millions of bills each year to bank bill payment destinations servicing both consumers and businesses, announced it will participate in the Financial Data Exchange (FDX), a non-profit organization committed to developing and promoting a single industry standard for financial data sharing. As an FDX member, […]
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Providers

Introducing Plaid Exchange

“Today, Plaid is launching Plaid Exchange to accelerate consumer-permissioned data access strategies for financial institutions. As fintech adoption has grown, so have the needs of financial institutions that must now manage unprecedented customer connections across thousands of fintech apps. Plaid Exchange gives financial institutions, from banks to wealth management firms, an open finance platform that […]
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Providers

SIX Launches b.Link – the Central Platform for the Standardized Sharing of Data Between Financial Institutions and Third-party Providers

“With the b.Link platform, SIX is creating the basis for innovative partnerships between financial institutions and third-party providers. In a first step, providers of accounting solutions in Switzerland can connect to financial institutions under controlled conditions via the standardized b.Link interfaces. Corporate customers can thereby process account information and payment orders directly in their accounting […]
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Providers

FDATA North America Welcomes Four New Members

“The Financial Data and Technology Association (FDATA) of North America today announced it has added four new members, boosting the organization’s roster of member companies and organizations united behind the notion that consumers and small businesses should have full utility over their own financial data.”
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Providers

Financial Data Exchange Surpasses 100-Member Milestone – Computer Services, Inc., PAi Retirement Services, PayPal, and Sovos Among 22 New Members Joining

“The Financial Data Exchange (FDX) welcomed 22 new members between January 1 and March 31, 2020, bringing the total membership to 103 organizations that have committed to collectively transitioning to a modern, transparent and secure data sharing approach.  Since its launch in October 2018 with 21 founding members, FDX has seen a nearly fivefold increase […]