Onramper today announces that it has raised $6m in seed funding, led by EQT Ventures, with participation from Backed VC and TRGC.
Under the pilot project in partnership with Lending Loop the Ontario government will be providing $3 million in loans to...
The Ontario Securities Commission (OSC) has published their annual report sharing that they are monitoring P2P lending, digital crowdfunding and online advisors; to date the OSC has supported 38 fintech companies with the OSC LaunchPad; the LaunchPad was created for businesses that don’t fit neatly under existing regulation. Source
The Ontario Securities Commission has issued a request for high-level experts to join its newly-formed Fintech Advisory Committee; to begin with, the panel is expected to assist with the launch of an innovation sandbox called "Launch Pad;" other expertise at play includes crypto-currencies, fintech platforms, venture capital for fintech, AI and data analytics for finance. Source
The UK's Payment Services Directive 2 (PSD2) has the potential to significantly change banking for consumers with access to open APIs; the article notes that banks that have only done the minimum to comply with PSD2 may run into issues if we ever see a PSD3; fully embracing PSD2 may save headaches for banks down the road; the trend of open APIs and data sharing is likely to make its way to the US; Japan is also leading the way in this area having explored domestic ACH on blockchain. Source
A new study released by Accenture says bankers now have high expectations for Open Banking as half of those surveyed...
According to a new study by Accenture 7 out of 10 consumers would be reluctant to share their Information with third party providers; Citi recently published a study pointing to three main reasons that wide scale adoption will take longer; reasons include slow consumer adoption, fragmented market for new open banking services and the ability for payment providers to adapt to new rules; thus far open banking has been slow but big banks like Lloyds Banking Group and RBS have made big tech investments anticipating the change will happen over time. Source.
While the promise of a flood of new products that would create the biggest shake-up in retail banking in decades hasn’t...
A recent report commissioned by Pepper, a 100% mobile bank created by Israel’s leading bank Bank Leumi, claims retail banks are seriously...
Revolut’s announcement in early February to partner with TrueLayer on open banking aggregation could prove to be one of their...