With the increasing prevalence of digital services across many industries, there has been an insurgence of new technologies reshaping the way many companies function, including those in banking. This rise in online services is opening older computer systems to the potential of startups, third-party access, and democratic data processes. These…
The revised Payment Services Directive (PSD2) is a regulation that aims to bring payment regulations into alignment with technology and the current financial services landscape. It has replaced the original Payment Services Directive (PSD1), which commenced in 2007. First proposed by the European Commission in 2013, PSD2 was adopted by the European…
There has been a rapid increase in Banking as a Service (BaaS), but what is it and why is it important? According to Business Insider, “BaaS is an end-to-end process that allows fintechs and other third parties to connect with banks' systems directly via APIs so they can build banking…
Open banking is an $8 billion-plus revenue opportunity and one of the most seismic shifts in consumer and commercial finance technology in decades. Throughout open banking, two or more parties have access to banking data through an application programming interface (API). The goal of open banking is to improve the consumer experience. Let's take…
If you have been paying attention to financial developments in the UK, you have probably heard about PSD2. Open banking in the UK has gone from an idea to reality very quickly, and PSD2 is an important reason why. If you run a bank or similar financial institution, you may…
Open banking is a way that you can give financial information to providers without risking your security. If you already use online and mobile banking, you can use open banking for easy access to payment processing, financial data, and even comparison shopping. Open banking is quickly becoming the preferred way…
API technology represents the future of the banking industry. While APIs have been used in the business world for over 20 years, it is currently becoming more prevalent in banking, as financial institutions implement more modern technology solutions. If you want to stay ahead in the market, you need to…
Open banking has already made waves in Europe but has yet to fully emerge in the U.S. Find out why & what the future of open banking in the U.S. looks like.
Today our Co-Founder and Head of Product, Matthew Kane, lead a webinar on Open Banking. In this webinar he talked about open vs closed banking, how open banking differs from banking as a service (BaaS), examples of how open banking is being used globally, and three ways Hydrogen’s global fintech…
Open banking refers to the use of open APIs that enable third-party developers to build applications and services on top of a particular financial institution or group of institutions. This is typically done via an initiative by a bank to open its APIs to third-parties and give those third-parties access…