Your Open Banking News Update

Romania-based CEC Bank has partnered with Finqware to launch an open banking-enabled app which allows its customers to aggregate all their account data from multiple financial institutions in one place. The app currently connects with nine banks which are active in the Romanian market: Alpha Bank, Banca Transilvania, BCR, BRD, ING Bank, Libra Bank, Raiffeisen Bank, Revolut and Unicredit Bank. 

Open Banking Initiative Canada (OBIC), which was formed to drive forward open banking in the country, has released the first Open Banking Manifesto. The Manifesto supports an open banking ecosystem that’s beneficial for all stakeholders including consumers, SMEs, fintechs and financial institutions. Its goal is that this new framework will promote product development, security and personalisation in a stable and safe way. 

Italy-based Fabrick is bolstering its partnership with Microsoft Italia to innovate further in the area of digital transformation that’s fast becoming a cornerstone of the financial services sector. Fabrick will also join more than 17,000 apps by becoming a part of the Microsoft Commercial Marketplace. The collaboration will facilitate Fabrick’s business in Italy, as well as internationally. By utilising cloud computing and other technologies, Fabrick will be able to launch new, leading edge products and services. 

TAB Bank has partnered with MuleSoft for the development of its open banking strategy. Partner companies can access KYC verification processes, new customer account creation and other features in order to improve their products and services. TAB Bank can also make financial data available in real-time and aggregate customer information from multiple sources through the Plaid Exchange.

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