Open Banking News of the Week

AccountScore has partnered with Click2Check to provide a service called Credit Assess which will help mortgage advisers pre-qualify applicants more easily using open banking. The solution gives the mortgage advisers instant access to their client’s financial data meaning they can quickly and securely evaluate their suitability and at the same time, verify their identity.

IMB Bank in Australia has launched an open banking API which will initially share data regarding deposits and transactions. Additional data will be added over time, along with the introduction of an online mortgage platform. The API can be accessed via the website’s developer portal.

The UK-based fintech Currensea has announced the launch of an open banking powered debit card for SMEs. The card enables businesses to make international transactions using their bank account without charges and with low fees. They can make transactions in 16 currencies.

The payment service provider ECOMMPAY has launched a new solution called ‘Open Banking by ECOMMPAY’ which facilitates consumers’ payments to online retailers. The new system connects to 48 UK-based banks, meaning all of their customers will be able to benefit from it. ECOMMPAY plans to expand their open banking solution outside of the UK.