Open banking

UK-based fintech Nuke From Orbit raises £500k pre-seed funding to deliver smarter smartphone security

Retrieved on: 
Thursday, March 7, 2024

LONDON, March 7, 2024 /PRNewswire-PRWeb/ --Nuke From Orbit, a fintech startup based in the UK, has raised £500,000 in a pre-seed round to take its product to market. The startup, which aims to revolutionise mobile security, attracted leading investors with its innovative approach to protecting financial accounts and personal identifiable information (PII).

Key Points: 
  • The funding will propel Nuke From Orbit's innovative approach to smartphone security and fuel the expansion of their partner base as the startup prepares to launch their partner portal.
  • LONDON, March 7, 2024 /PRNewswire-PRWeb/ -- Nuke From Orbit , a fintech startup based in the UK, has raised £500,000 in a pre-seed round to take its product to market.
  • Nuke From Orbit was founded to tackle this rising problem by providing the instant invalidation of stolen data.
  • Subsequently, Nuke From Orbit plans to take the service global, prioritising countries with high smartphone adoption, higher crime rates and strong traction in modern financial services such as Open Banking.

FIS Drives Secure Open Banking for Financial Institutions and Consumers

Retrieved on: 
Thursday, February 8, 2024

Global financial technology leader FIS ® (NYSE: FIS) has today announced another milestone in its drive to make secure open banking more accessible to its clients and their customers.

Key Points: 
  • Global financial technology leader FIS ® (NYSE: FIS) has today announced another milestone in its drive to make secure open banking more accessible to its clients and their customers.
  • Agreements are in place with leading data networks including Akoya, Envestnet | Yodlee, MX and Plaid to integrate into FIS’ Open Access platform, an innovative new open banking solution, that enables consumers to securely and seamlessly share their financial information with a greater number of third-party financial apps and services of their choice.
  • The shift to Open Banking is accelerating , and last year the Consumer Financial Protection Bureau (CFPB) proposed a Personal Financial Data Rights rule establishing consistent industry standards for consumer data access and protection.
  • FIS’ Open Access platform provides consumers with the ability to access and share their financial data in a secure, stream-lined and controlled manner.

Euronet Collaborates with Banco Guayaquil to Enhance Transaction Switching Solutions and Enable Advanced Banking Technology Integrations in Ecuador

Retrieved on: 
Tuesday, January 30, 2024

These initiatives align with Ecuador's emerging real-time payment (RTP) trends, positioning Banco Guayaquil at the forefront of digital innovation.

Key Points: 
  • These initiatives align with Ecuador's emerging real-time payment (RTP) trends, positioning Banco Guayaquil at the forefront of digital innovation.
  • "Our agreement with Banco Guayaquil isn't just about technology solutions,” said Oscar Munoz, Head of Sales for Ren, Americas at Euronet.
  • By choosing Euronet, Banco Guayaquil reiterates its commitment to serving its high-end clientele with nothing but the best.
  • Together, we are poised to redefine the landscape of financial technology and banking innovation."

ISX Financial Launches Open Banking Solution PaidBy® to Wix Merchants Across the UK.

Retrieved on: 
Tuesday, December 5, 2023

Through this partnership, Wix's UK-based merchants have access to PaidBy®, open banking payments service, and their customers can pay directly from their current banking app or web portal.

Key Points: 
  • Through this partnership, Wix's UK-based merchants have access to PaidBy®, open banking payments service, and their customers can pay directly from their current banking app or web portal.
  • As cash flow is critical, Wix merchants in the UK will have access to their funds the same day.
  • Managing Director & CEO Nikogiannis Karantzis said, "ISX Financial is thrilled to be partnering with Wix, on our full open banking orchestration service that competes with online card scheme processing.
  • "We look forward to working with PaidBy to provide seamless open banking solutions to our UK merchants."

ISX Financial Launches Open Banking Solution PaidBy® to Wix Merchants Across the UK.

Retrieved on: 
Tuesday, December 5, 2023

Through this partnership, Wix's UK-based merchants have access to PaidBy®, open banking payments service, and their customers can pay directly from their current banking app or web portal.

Key Points: 
  • Through this partnership, Wix's UK-based merchants have access to PaidBy®, open banking payments service, and their customers can pay directly from their current banking app or web portal.
  • As cash flow is critical, Wix merchants in the UK will have access to their funds the same day.
  • Managing Director & CEO Nikogiannis Karantzis said, "ISX Financial is thrilled to be partnering with Wix, on our full open banking orchestration service that competes with online card scheme processing.
  • "We look forward to working with PaidBy to provide seamless open banking solutions to our UK merchants."

Nuvei and American Express join forces to facilitate seamless account-to-account payments between merchants and their customers

Retrieved on: 
Thursday, November 2, 2023

MONTREAL, Nov. 2, 2023  /PRNewswire/ -- Pay with Bank transfer, powered by American Express ("PwBt"), announces it has selected Nuvei Corporation ("Nuvei") (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, as its first acquirer authorised to promote and sell PwBt's Open Banking-enabled payment method.

Key Points: 
  • Nuvei will be promoting PwBt to both existing and prospective UK merchants, supporting them with the integration of the Open Banking payment method into their ecommerce platforms.
  • Nuvei customers will be able to integrate PwBt directly into their online checkout through their existing connection to Nuvei technology.
  • "Our mission is to enable our customers to get closer to their customers through payments, wherever they are and however they want to pay.
  • The technology is powered by American Express but open to everyone with a UK bank account, meaning that customers can benefit from the frictionless payment method and enjoy American Express' bank-level security.

SchoolsFirst Federal Credit Union Becomes Anchor Investor in Next Generation Banking Platform by Black Dragon Capital℠

Retrieved on: 
Tuesday, October 31, 2023

BOCA RATON, Fla., Oct. 31, 2023 /PRNewswire/ -- SchoolsFirst Federal Credit Union has become the anchor investor for Open Banking Solutions, a cloud-based, digital banking suite recently launched by Louis Hernandez, Jr.'s Black Dragon Capital℠ and supported by Advisor Rashid Desai, the former CTO of Open Solutions and its DNA core processing suite.

Key Points: 
  • SchoolsFirst Federal Credit Union is the largest credit union in California, and the fifth largest in the nation with more than one million Members and more than $25 billion in assets.
  • SchoolsFirst CEO, Bill Cheney and the team at SchoolsFirst, have a long-standing relationship with the Chair and CEO of Black Dragon and their advisors.
  • I am very excited to bring my experience and connect with the teams of Black Dragon Capital℠, Open Banking Solutions, and SchoolsFirst Federal Credit Union to create advanced technology solutions that work.
  • In 2022, the Credit Union reported nearly $28 billion in assets and remains the largest credit union in California.

Dwolla Connect Drives Value for Enterprises with New Open Finance Integrations

Retrieved on: 
Monday, October 30, 2023

DES MOINES, Iowa, Oct. 30, 2023 /PRNewswire-PRWeb/ -- Dwolla, a leading account-to-account payment services provider, announced the expansion of its latest solution, Dwolla Connect, by integrating it with the open finance ecosystem. This integration helps Dwolla Connect clients securely transfer open finance data to the Dwolla platform, unlocking new capabilities like bank verification through trusted third-party providers (including MX, Plaid, Finicity – Mastercard's U.S. open banking arm – and Flinks). It also marks a significant step forward in secure payment experiences, bringing together the best of data protection and payments automation for finance and technology teams at mid- to enterprise-sized companies.

Key Points: 
  • This integration helps Dwolla Connect clients securely transfer open finance data to the Dwolla platform, unlocking new capabilities like bank verification through trusted third-party providers (including MX , Plaid , Finicity – Mastercard's U.S. open banking arm – and Flinks ).
  • At the heart of this new feature lives the Dwolla Secure Exchange Solution , a tokenized solution Dwolla released in July 2022.
  • The Secure Exchange Solution prioritizes flexibility, provides a deeper connection into the open finance ecosystem and unlocks expanded functionality within the Dwolla platform in the future.
  • Key Features of Dwolla Connect + Secure Exchange Solution:
    Enhanced Security: By exchanging tokens with trusted partners, Dwolla Connect clients can share information securely, protecting it from malicious actors and ensuring data integrity.

FinGrid.io's Pay-by-bank payments solution is helping US merchants cut down on payment processing fees by more than 70%

Retrieved on: 
Tuesday, October 24, 2023

With FinGrid.io's Pay-by-bank solution, merchants in the US are saving up to 70%-80% on payment transaction fees while effectively reducing more than 98% of fraudulent transactions.

Key Points: 
  • With FinGrid.io's Pay-by-bank solution, merchants in the US are saving up to 70%-80% on payment transaction fees while effectively reducing more than 98% of fraudulent transactions.
  • FinGrid.io's Pay-by-bank solution enables merchants to integrate bank-to-bank payments directly into their existing checkout processes with APIs and prebuilt SDKs for Web, iOS, and Android apps.
  • Merchants within the retail, transport, hospitality, and finance industries are leveraging FinGrid.io's Pay-by-bank payment solution built on Open Banking.
  • "Our technology helps merchants drive more business while reducing payment processing fees and fraud.

Global Online Payment Fraud Prevention Market Report 2023: Banking, Remote Digital and Physical Goods, and Airlines Emerge as Areas of Focus - Forecasts to 2028

Retrieved on: 
Monday, October 23, 2023

DUBLIN, Oct. 23, 2023 /PRNewswire/ -- The "Online Payment Fraud: Market Forecasts, Emerging Threats & Segment Analysis 2023-2028" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • DUBLIN, Oct. 23, 2023 /PRNewswire/ -- The "Online Payment Fraud: Market Forecasts, Emerging Threats & Segment Analysis 2023-2028" report has been added to ResearchAndMarkets.com's offering.
  • Merchant losses from online payment fraud will exceed $362 billion globally between 2023 to 2028, with losses of $91 billion alone in 2028.
  • Bolstered by a robust scoring methodology, the newly introduced Competitor Leaderboard ranks the top 21 fraud detection and prevention providers.
  • This includes fraud values for remote digital and physical goods acquisitions and online transactions, the rate of money transfer fraud, and digital banking fraud.