What’s in the Open Banking News this Week?

Credit Suisse is expanding its digitalisation strategy further by offering open banking to its clients. Using Credit Suisse’s own APIs, investment banking customers will be able to get real-time data on securities and foreign exchange, further enhancing their experience and improving their margins.

Quotevine, the provider of cloud solutions has partnered with AccountScore to create a product which will enable lenders to make better decisions. Brokers will have access to open banking data, reducing the amount of administration normally required and helping lenders to get the information they need for a fast and beneficial decision. 

The retail app Picksell has announced its entry into the German market. Customers can visit a shop, scan QR codes of the purchases they want to make and complete the payment in the app. This contactless and streamlined shopping experience is COVID friendly since it there’s no need to queue. Picksell also uses open banking, vastly reducing the amount online and offline merchants pay in fees.

The Italy-based challenger bank Aidexa has raised €45 million in seed financing with plans to get a full bank license in 2021. Its goal is to roll out artificial intelligence and open banking technology. Aidexa’s target market is the seven million companies in Italy which have a turnover of less than €10 million. It hopes to hire one hundred staff in the next few months.