The Latest Open Banking News

Sentential, a cloud-native payments company, has been acquired by EML Payments Ltd. The deal includes its open banking subsidiary Nuapay. The agreement is worth around €110 million and it’s thought it will close later in the year. EML currently operates in United Kingdom and France and has plans to expand into both the US and Australian markets. 

Nordic API Gateway has announced a partnership with BEC, a fintech provider that works with Nordic banks. The partnership will give twenty-seven banks in Denmark access to open banking services, thereby enabling 20-30% of consumers in the country to view multiple accounts from different financial institutions in one place. 

France-based La Banque Postale is working with Ebury to improve its products and services with open banking. This is a part of its plan to further enhance its digital offering in the corporate and SME market. The collaboration will see the introduction of spot foreign exchange transactions, international transfers and different currency accounts. 

There’s talk that the San Francisco-based fintech Plaid may soon close financing at a $13 billion valuation. It’s been reported that Altimeter Capital are leading the investment round. Plaid works with more than four thousand clients including huge tech firms and has recently announced plans to expand its European operations. 

LendInvest and Credit Kudos are collaborating to create a more streamlined process for brokers and consumers. LendInvest, a property finance platform, will be able to offer faster and better informed decisions on lending via the open banking-enabled services provided by Credit Kudos. Open banking means a more comprehensive, real-time picture of a consumer’s financial profile is available.

Pay iO’s articles do not constitute financial advice and are for information only.