With eyes on Europe, Open Banking API provider TrueLayer raises $7.5M

TrueLayer, the London startup that’s built a developer platform to make it easy for fintech and other adjacent companies, such as retailers, to access bank APIs — and ride the Open Banking and PSD2 gravy train — has picked up further $7.5 million in funding.
Leading the round is venture capital fund Northzone. It follows a $3 million Series A in June last year, and will be used for European expansion, starting with Germany and France.

FreeAgent one of the first UK companies to secure Open Banking registration from FCA

FreeAgent is among the first tranche of companies to achieve AISP status in the UK and will now be able to officially embark on its Open Banking strategy.

Open Banking APIs in Asia need a set of common standards, Banking & Finance – THE BUSINESS TIMES

THE rise of open banking and open application program interfaces (APIs) have profound implications for banks and financial institutions. 

PSD2: ‘Wind already taken out of sails’ of open banking

Just seven months after the launch of the revised Payment Services Directive (PSD2), efforts made by many mainstream banks are stopping short of bringing about the ground-breaking changes many had expected.

Australia Unveils Legislation Underpinning Open Banking

The Australian government has published a bill to implement the consumer data right (CDR), 

bizEDGE NZ – Why open banking is a good thing for New Zealand SMBs

Open banking is closer to reaching the New Zealand public, with a pilot project currently underway and due to wrap up by the end of the year.

Brazil Passes Data Protection Bill, Paves Way For Open Banking | PaymentsCompliance

In an attempt to rise out of austerity, secure its position on the world stage and clinch membership with the OECD, Brazil has passed its first piece of major data protection law. The new General Data Protection Act (GDPA) borrows heavily from the EU’s General Data Protection Regulation, giving Brazilian citizens more control over their personal data than ever before. The Senate approved the act on July 10, with the bill sent to President Michel Temer for execution.

FreeAgent first UK company to secure Open Banking registration from FCA

FreeAgent is among the first tranche of companies to achieve AISP status in the UK and will now be able to officially embark on its Open Banking strategy.

Africa’s Talking joins Open Banking Nigeria to develop open APIs for banking

Open Banking Nigeria has announced a partnership with Africa’s Talking to develop open APIs for banking.”Africa’s Talking has joined [other] companies…

Blog: Open banking offers a new insurance distribution channel

Some might have already labelled it a failure but open banking will continue to evolve and insurers should sit up and take notice.