Open Banking Excellence (OBE)’s Post

📰 The latest edition is live! In a sector that moves at a phenomenal pace, we've unpacked the fastest month in fintech for you. OBE launches first-of-its-kind programme ✅ Free pensions calculator Guiide shares pension advice ✅ Consumer Duty, APP fraud ✅ Money 20/20 ✅ London Tech Week ✅ OBE launches The Transatlantic Index USA survey ✅ Flying the flag for the UK ✅ & much more. #Newsletter #OpenBanking #Fintech #APPFraud #ConsumerDuty

With global open banking payments projected to skyrocket to $330bn in 2027, it’s clear that real-time payment technology is transforming the financial landscape providing astronomical opportunities for merchants worldwide 🚀 As fashion meets fintech following the exciting partnership announcement between the global real-time payments platform Volt.io and luxury marketplace FARFETCH, shoppers will now see a Pay by Bank option at checkout. This partnership signifies how real-time payments reshape the customer experience, reduce costs and add security. Read more on the exciting announcement: https://bit.ly/3XOOoEc Kat Marangos Stuart Barclay Mark H. Congratulations 🎉 #OpenBanking #Fintech #RealTimePayments #Farfetch #Volt #PaymentsInnovation

📣 Cast your votes, we want to hear from you! Vote now and share your thoughts in the comments If you want your question to feature in front of a global audience, please message us directly.

After The Central Bank of Brazil (CBC) recently celebrated over 43 million active consents for open finance, we rewind to admire this remarkable journey. Luigi Iervolino, BIP Brasil shared the CBC's milestone in August 2022 which at the time was 5 million open finance consents. Taking only 11 months for Brazil to achieve these phenomenal results, it was clear the pace of adoption would be impressive and todays statistics do not disappoint. Luigi's blog in our Knowledge Hub archive reviews the 4 phases of implementation and the impact on investment for the 5 categories of Brazilian Banks. https://bit.ly/3TeOB0U Otávio Damaso Luigi Iervolino BIP Brasil Banco Central do Brasil #OpenFinance #Payments

From our Knowledge Hub archives, we revisit 'The Evolution of Payment Rails' with Anu Widyalankara, EY at a time of accelerated innovation and disruption. Anu dived into innovation, interoperability and the opportunities in payments. "A strong understanding of the evolving landscape of payment rails and a willingness to embrace new technologies and infrastructure will be crucial for banks to thrive in the fast-moving payments sector of today and tomorrow." Open banking adoption is one of the most notable trends in payment rails, read Anu's blog to discover a global perspective of payment rails: https://bit.ly/4cY47Fp Anu Widyalankara EY #OpenBanking #payments #CBDC

From our Knowledge Hub archives: "How can the industry build upon the recommendations of JROC to take the next logical step forward for Open Banking?" – Andrew Boyajian, Head of Variable Recurring Payments at Tink. Last year, the Joint Regulatory Oversight Committee (JROC) unveiled its highly anticipated report, setting a clear roadmap for expanding VRPs beyond sweeping use cases. "It is critical that the industry collaboration and forward momentum established in the pre-JROC era continues as we work through its roadmap together." said Boyajian. In 2024, there's still work to be done. Industry collaboration is not only crucial in setting standards but also in educating consumers about the benefits of VRPs. Read the blog in full: https://bit.ly/3TjOXTR Andrew Boyajian Tink #OpenBanking #VRP #Fintech #PaymentsInnovation #Tink

From the Knowldege Hub archive: The world's best open banking use case! We spoke with Greta Akintoye to revisit personal memories of working on the team which created the open banking payment option for HMRC. At the time of speaking with Greta, HMRC had announced at the beginning 2023, Pay By Bank Account had processed 4.5 million tax payments to the value of approximately £12 billion. The implementation process to place in record time and has continued to hold the title as the worlds best use case for open banking. In 2024, HMRC saw an increase of 16% in the volume of transactions and value increasing of 38.9%. The find out more about the journey, please read Greta's blog in full:https://bit.ly/3XvIYhk Nick Down Ecospend, a Trustly Company James Hickman #OpenBanking #Payments #HMRC

📣 Cast your votes, we want to hear from you! Vote now and share your thoughts in the comments

From our Knowledge Hub archives, we're looking back on the Digital Operational Resilience Act (DORA) from Duncan McDonald and Wayne Scott, NCC Group. DORA is one of the biggest regulatory changes the financial services sector has ever seen, so now is the time to start your countdown to compliance and adopt a new approach to resilience. At the time of publishing, organisations had just two years to become compliant, are you ready? Read the blog in full: https://lnkd.in/d-bGnjGh #DORA #DigitalOperationalResilienceAct #CyberSecurity #Compliance

Investigating An Open X Use Case In Chile. From our Knowledge Hub archives we revisit the project of Dr. Anthony Evans as he shared the potential global impact of open banking techniques and technology to improve the lives of rural farmers. "Open X can happen in two ways. The less disruptive path involves taking existing Open Finance capabilities and creatively fashioning them into new use cases which address a wide range of industries. The other, more disruptive way involves using API frameworks to introduce interconnectivity into other industries." Read the blog in full: https://lnkd.in/dKFn2uPP Asociación de Bancos (ABIF) - The Association of Banks and Financial Institution Central Bank of Chile Inter-American Development Bank CAF -banco de desarrollo de América Latina y el Caribe- The International Development Bank for Latin America. #FinancialInclusion #OpenBanking #OpenX #Chile #Blog