Moneyhub has been authorised as a Payment Initiation Services Provider (PISP) by the FCA, having already secured Account Information Services Provider (AISP) status.
The platform gives users oversight of all data relating to their accounts, credit cards, loans and pensions. It caters to individuals, advisors and businesses.
With PISP status secured, Moneyhub will evolve beyond simply offering overviews. Its users may now enact seamless payments from various providers using the platform. Samantha Seaton, the CEO of Moneyhub, has declared: ‘Frictionless Finance has arrived’.
London is, arguably, the most important global hub for financial services. As a result, the consequences of the Brexit vote, the ensuing uncertainty and the eventual transitional and regulatory framework applying to UK financial services and how it will continue to access overseas markets has been subject to huge speculation. Much of the debate has focused on banks retaining access to EU markets through passporting. This has prompted questions about whether and to what extent institutions will relocate, with various other centres – from Dublin to Paris to Frankfurt – keen to show their credentials. Less consideration has been given to the impact of Brexit on the fintech sector.
HEL Tech HEL Tech, a monthly tech meeting hosted in Helsinki by enthusiastic students, was once again held at Clarion Hotel on Monday 6 August 2018. The topic of the meet-up was open banking, and HEL Tech fittingly hosted many start-ups and tech companies, as well as established operators. With the theme being open banking, the new Payment Services Directive (“PSD2”) was one of the main discussion points of the meeting.
August 12, 2018: Peter Thomas posted an article on LinkedIn…
Banking and insurance retailer Suncorp has vowed to turn its recently launched $100 million digital marketplace platform into a spearhead to seize market advantage under Australia’s new open banking regime. The bold play will also look to rapidly on-board new third party services – think fintechs and loyalty apps – as a competitive differentiator from the beleaguered big four.
Brazil is on track to jump on the open banking bandwagon, after the central bank confirmed it is looking to have the relevant legislative reforms approved by the end of 2019. Brazilian financial firms have generally struggled to wean consumers off cash, which still accounts for the vast majority of transactions made by the country’s vast population, despite the introduction of payment services legislation in 2013. However, that landscape could start to shift, according to André Calvino, director of the department of regulation at the Banco Central do Brasil.
Young people arguably have the most to gain from Open Banking, a specialist bank has claimed…