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Fostering FinTech-FI Trust With Data-Driven Security

PYMNTS

Financial Institutions (FIs) that adopt open banking allow third parties like FinTechs to integrate with their application programming interfaces (APIs) to provide personalized financial management and payment apps that draw on bank customers’ data. We need to manage risk appropriately, but open banking is a good thing,” Davies said.

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Banks Say FinTech Innovation, Not Regulation, Is Now Their Fiercest Market Pressure

PYMNTS

Regulation has undoubtedly acted as a catalyst to major financial services trends in areas like small business (SMB) lending, faster payments and, most recently, open banking and collaboration with FinTechs. In its Global Banking Outlook 2018 survey , EY assessed 221 financial institutions across 29 markets. Competitive Disruption.

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B2B FinTech Goes High-Tech For Funding

PYMNTS

is no longer the world’s largest market for FinTech investment, according to the latest report from Citigroup, released this week. Analysts found that, in the first nine months of 2016, China held the top spot for FinTech investment, with funding raised for that period doubling compared to the same period in 2015.

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Visa Supports Rollout Of Aussie AP Service Yak Pay

PYMNTS

The tool is designed to enable SMBs to pay their vendors with commercial cards, even if that vendor does not accept them. Yak Pay is owned by Payment Logic, reports explained, with Visa providing product design and go-to-market strategy expertise. Reports in IT Wire on Monday (Oct.

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Why Do Consumers Love Fintechs?

The Financial Brand

Consumers want financial institutions to help them reduce financial stress using digital tools that are intuitive and easy to use. The post Why Do Consumers Love Fintechs? appeared first on The Financial Brand.

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New Report: Opening Up Banking To Everyone But The Money Launderers

PYMNTS

Some players in the space are now suggesting that open banking could be a tool to help FIs accelerate the know your customer (KYC) processes. Many FIs are concerned about whether opening their APIs to FinTechs would result in criminals abusing open banking-powered payment apps to launder money, for example.

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Logistics, Alt Lending Lead B2B Startup Funding

PYMNTS

FinTechs that landed new funding include a firm targeting friction in B2B payments in the construction space, alternative small business lenders and a company helping accountants guide their SMB clients toward capital. Mambu links banks, lenders, FinTechs and other financial services players with a cloud-based core banking infrastructure.

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