open banking Archives - Hydrogen

Popular Challenger Banks in the United Kingdom

Challenger banks are using digital technology to disrupt traditional banking business models and streamline retail banking. Open banking has played an important role in the rise of challenger banks, which has resulted in the United Kingdom becoming a hot-bed for challenger banks disrupting the banking industry.  According to Accenture, about…

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Fintech in Brazil Has a Bright Future

Financial technology, or fintech, is on the verge of a breakthrough in Brazil in 2020. In late November 2019, Brazil’s Central Bank set out draft rules for open banking, intending to phase in the rules during the second half of 2020. These new regulations make substantial changes to the way existing…

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Understanding WSO2 & Open Banking

In a world where open banking is the future of fintech, banks and other financial institutions need to understand both WSO2 and PSD2. With regards to implementation, WSO2, an open-source technology with a platform for integrating application programming interfaces (APIs), applications, and web services, is often regarded as a better alternative…

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How Recent Fintech M&A Activity Impacts the Market

It’s only February, yet the fintech market is already triggering immense change within the financial industry in 2020. Visa is acquiring Plaid for $5.3 billion, Morgan Stanley is acquiring E*Trade for $13 billion, and Lending Club is acquiring Radius Bank for $185 million. Plus, Visa is granting Coinbase the ability…

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APIs in Fintech

The banking and finance industry has grown and changed in recent years. Two of the factors driving that growth and change have been the rise of financial technology (fintech) companies or programs and the use of application programming interfaces (APIs). Because of APIs and fintech, people can now do incredible…

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What You Should Know About Banking as a Service

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…

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What Is PSD2?

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…

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BaaS to the Future: Upcoming Happy Hour & Report

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…

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Open Banking – APIs, Use Cases & Benefits

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…

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