Open banking stories - Page 6

Capgemini Research predicts instant payments will hit 22% of non-cash transactions by 2028, driven by digital wallets, P2P and eCommerce growth.

Adatree launches 'Insights' product suite to boost fraud prevention and operational efficiency, leveraging Open Banking.

GoCardless and ICE InsureTech collaborate to streamline bank payment collections for insurance firms in Australia and New Zealand, enhancing efficiency and reducing costs.

The fourth edition of FinTech Australia's Open Banking Ecosystem Map shows a 165% rise in Consumer Data Right adoption, supported by Mastercard.

Bank fraud is projected to reach USD $48 billion globally by 2029, a 153% surge, driven by evolving AI tactics, says Juniper Research.

Australia's fintech sector, powered by innovation, technology, and government backing, has surged from AUD $250 million in 2015 to AUD $45 billion in 2023.

First AML has partnered with Open Banking tech platform Armalytix to boost Source of Funds and Source of Wealth capabilities for large conveyancing firms.

GoCardless has appointed Jolawn Victor as Chief Growth Officer, leveraging her vast experience in tech and growth marketing to support its global expansion.

Despite the introduction of Consumer Data Right (CDR) five years ago, 68% of Australians remain unaware of the Open Banking concept, according to a survey by payment tech company, Waave.

Waave launches Waave Wallet, a novel payment method using biometric security and real-time account transfer; a move to tackle cyber breaches and reduce Australia's AU$3 billion in annual merchant fees.

Westpac partners with NextGen to streamline home loan applications across its brands via Open Banking, marking a significant innovation in Australia's banking sector.

Frollo, Australia's Open Banking service provider, urges a collaborative strategy to enhance the data quality in the nation's Consumer Data Right framework, supporting superior financial outcomes.

Australian mortgage broking industry pivots towards Open Banking, with the number of brokers using NextGen's solution tripling, amid potential legislative changes.

PPRO has bolstered its leadership, appointing Selene Brett as Chief Legal, Risk and Compliance Officer, and Marc Kuzak and Massimiliano Conte as Legal and Compliance Director respectively to bolster governance.

Craggle launches AI tool revolutionising home loan refinancing, aims to simplify the process and save Aussies millions annually.

Efficiency and open banking lead 2024 lending trends as lenders target cost reductions, superior customer experiences, and faster approval times, utilising technological prowess and expansive data use.

Waave and Gr4vy partner to introduce the 'Pay by Bank' solution for retail outlets in Australia, providing a safe and secure payment alternative.

Bristol's Moneyhub is ranked among the top 100 'most promising' fintech start-ups globally for 2023 by CBInsights.

The Fintech and Payments Advisory Network (TFPA) has hired a new CEO, COO and Executive Chair to lead its growth journey.

Cyber threats directed towards financial services has grown rapidly, driven by digital transformation and regulation such as open banking.