Open Banking Payments – what is hindering the road to adoption?
By now, most of us are familiar with the concept of Open Banking, we have given it a go and used an app to gain a single view of our finances by linking it to our accounts across different Banks. The number of active UK Open Banking users has now surpassed five million – just […]
Woodhurst launch Open Finance Community – SHIFT
London, 22 September 2021: Woodhurst, a digital transformation consultancy, is excited to announce the launch of their new Open Finance Community, SHIFT. The community includes founders and leadership teams from some of the UK’s most exciting Fintech’s leading the Open Finance space. The Open Finance Community will exist to foster collaboration between founders of […]
Fintech Feature – Akoni
Akoni helps individuals and businesses easily manage their cash through a savings dashboard, providing easy and fast access to rates across all their highly rated banks. The range of choices on offer means customers could be earning more interest on their cash across multiple FSCS protected bank deposits. We spoke to Panos Savvas, CTO and […]
Fintech Feature – ApTap
ApTap leverages open banking to algorithmically identify and categorise bills leaving a customer’s bank account, allowing users to track and monitor regular payments. ApTap then offers suitable alternatives with the goal of saving the customer money; the average energy bill savings across ApTap users was £187 in 2020. We spoke to ApTap CCO, Will Billingsley, […]
Fintech Feature – OpenMoney
1 in 3 people in the UK have little or no confidence when managing their money, with many finding it increasingly difficult to make the most of the financial opportunities available to them. OpenMoney are a fintech founded on the vision of solving the way customers are neglecting their personal finances. Having already provided advice […]
Fintech feature – Nutmeg
The first and largest digital wealth manager in the UK, Nutmeg has more than 140,000 clients and £3.5bn in assets under management. Last week JPMorgan acquired Nutmeg for an undisclosed sum, having valued the fintech at £700m according to the Financial Times. Finanser’s CEO Chris Skinner says it will give JPMorgan a quick leg up […]
Fintech feature – Tred
Tred is a profit for purpose fintech using Open Banking to help consumers to track, reduce and offset their carbon footprint. By dynamically calculating an individual’s carbon footprint using transaction data, Tred is able to provide actionable guidance that will help to make more sustainable choices. Coupled with their green debit card, Tred is actively […]
Fintech Feature – Evershare
Evershare enables cashless donations for Charities using a unique QR code. Through a combination of QR codes and regulated Open Banking payments, people can make socially distanced cashless donations from their mobile banking app directly to the charity’s bank account and Charities can save up to 75% in card payment processing fees. We spoke to […]
From Open Banking to Open Finance and Open Data
Open Banking, to many, has so far failed to live up to expectations. The use of Open Banking services is growing, absolutely, but it has been far from a resounding success. Delays, corporate inertia and incomplete use cases mean that there are still gaps in both the provision of account information and the ability to […]
What can the industry do to lay the foundations for Open Finance?
Open Finance is being embraced wholeheartedly by many areas of the industry, and the noise surrounding the concept will only increase as time goes on. But we’ve seen from Open Banking that change is not immediate, even where driven by regulatory deadlines. “I think it’s going to be a slow burn. First, you’ve got to […]