Planky writes
22 August 2023
Auto finance is one of the sectors that have been prominently benefiting from open banking by revolutionizing how auto finance lenders operate, leading to enhanced customer experiences, streamlined processes, and heightened transparency.
1 December 2022
The good news is that the 90-day rule is changing! The FCA, the UK’s finance regulator, has announced a change in the rule with effect from November 2022.
19 April 2021
Integrating third-party open banking software into an existing platform can be a lengthy and complex procedure that interferes with daily business. FriendlyScore’s web-based solution avoids this process altogether so your business can begin using open banking technology immediately.
29 May 2020
Open banking represents a significant step forward in the way we perform our daily financial tasks. The regulation, which enables you to share your bank data with authorised FinTech third-party providers, led to a stream of digital-age innovation aimed at making customer’s lives easier hit the financial services mainstream. Whether you’re an individual or a business, open banking has got something for you.
25 May 2020
Open banking is a simple idea: individuals can share their financial data with whichever authorised third party provider they choose. This seemingly straightforward change in banking regulations paved the way for a host of revolutionary innovations which aims to redefine the way we do finance.
9 May 2020
Much has been written about the revolutionary potential of open banking: it’s ability to aggregate data and enable users to view all of their accounts in one place; the deep insights provided by bank transaction data which results in better analytics; and the empowerment of customers as a result of giving them complete control over who can access their data. These are all game-changers for sure, but one of it’s more overlooked assets, and one which could be of key importance at this time, is its ability to deliver financial data in real-time.
13 March 2020
Open Banking recently celebrated its second birthday in the UK. Whilst it has received criticism from some quarters for being slow out of the blocks, it has now gathered more than one million active users, and an increasing number of innovative use cases coming from the FinTech sector could make 2020 the year that Open Banking finally cracks the mainstream.
6 March 2020
Affordability assessments for mortgages and small business loans are notoriously lengthy, taking up an unnecessary amount of time for both borrower and lender. FriendlyScore, a London-based FinTech, is employing open banking technology to help lenders dramatically streamline this process.
26 February 2020
Small and Medium Enterprises (SMEs) account for the vast majority of businesses worldwide and are a crucial driving force behind job creation and economic development. However many SMEs report being underserved, especially when it comes to accessing finance. We investigate how the FinTech sector is working to address such problems.