The Top News Stories in Open Banking

Brenton Charnley joins UK-based startup TrueLayer, to launch their business in the Australian market. This will take place officially in 2021, with Charnley setting up the operations, getting accreditation from the ACCC and bringing new partners on board. Charnley was previously with the Cover Genius Insurtech platform so brings with him a wealth of experience in the fintech space. 

UK-based Gala Tent, a commercial marquee supplier, has partnered with Nuapay to make open banking powered payments possible for its clients. This cardless option will be in addition to traditional payment solutions. Gala Tent hopes this will reduce transaction fees and improve cashflow. 

Bahrain-based Tarabut Gateway has launched its open banking platform in the United Arab Emirates. Tarabut Gateway is a regulated startup with retail banking partners in Bahrain, Kuwait, Lebanon, United Kingdom and India. Their products enable fintechs to access their customers’ financial data via the partner banks.  

St. Galler Kantonalbank in Switzerland has announced the launch of an OpenWealth platform in collaboration with Synpulse. The standardised open API connects custodian banks with asset managers enabling a much more efficient customer experience. Stakeholders include WealthTechs Assetmax, Advice Online and Alphasys and asset management companies Consensus Partner and B&M Wealth Management.