Australasia News & Spotlights

Future Directions – for the Consumer Data Right – Summary Poster

A Summary of the Final Report Download Poster of Future Directions

Future Directions for the Consumer Data Right – Chapter 4 – Part 2

A Breakdown of the Inquiry into Future Directions for the Consumer Data Right –Final Report Download Document Here

Future Directions for the Consumer Data Right – Chapter 4

A Breakdown of the Inquiry into Future Directions for the Consumer Data Right –Final Report Download Document Here

Future Directions for the Consumer Data Right – Chapter 3

A Breakdown of the Inquiry into Future Directions for the Consumer Data Right –Final Report Download Document Here

Future Directions for the Consumer Data Right – Chapter 2

A Breakdown of the Inquiry into Future Directions for the Consumer Data Right –Final Report Download Document Here

Future Directions – for the Consumer Data Right

A Breakdown of the Inquiry into Future Directions for the Consumer Data Right –Final Report Download Document Here

FDATA Australasia

What is FData The Financial Data and Technology Association is a not-for-profit global association for financial sector companies that use open finance in their business models. Our members provide innovative financial applications and services to empower customers to make better decisions and take fuller control of their financial lives across all their payment accounts, credit […]

2021 Q2 Wrap

Formal SubmissionsOn behalf of our members FDATA responded to a call for formal submissions by the Treasury Department on the proposed changes to Joint Account – Opt-Out model for Open Banking. Download Here 2021 Q2 Wrap

‘OPT-OUT’ JOINT ACCOUNT DATA SHARING MODEL – SUBMISSION

Open Finance, a precursor to the Consumer Data Right, began as a grassroots movement, campaigning for the legal rights of consumers and businesses to have control of their financial data and share this data with businesses of their choice digitally. It is part of a broader suite of Open Data initiatives to empower consumers and […]

CDR Market Participants

A CHOICE NEEDS TO BE MADEIf the current definition of CDR Data remains unchanged; the ability to permit accreditation to all levels of the ecosystem is the only way that compliance with the legislation can occur. This includes accountants, advisers, brokers, bookkeepers, marketplace participants, etc. Download Document Here

Consumer Data Right

A CHOICE NEEDS TO BE MADEIf the current definition of CDR Data remains unchanged; the ability to permit accreditationto all levels of the eco system is only way that compliance with the legislation can occur. This includes accountants, advisers, brokers, bookkeepers, marketplace participants, etc. Download Document Here

CDR RULES EXPANSION AMENDMENTS – SUBMISSION

Open Finance, a precursor to the Consumer Data Right began as a grassroots movement, campaigning for the legal rights of consumers and businesses to have control of their financial data and to be able to share this data with businesses of their choice digitally. It is part of a broader suite of Open Data initiatives, […]

2021 Q1 Wrap

Formal SubmissionsThe New Zealand government has responded to our ‘Options for a CDR’ submission (September 2020) and has requested a discussion around potential involvement. Data 17th February 2020. Download 2021-Q1-Wrap.pdf

Submission into NZ CDR – FDATA

Customer-centric design is the process of building your product or service based on the wants, needs, and challenges of your customers. OPTIONS FOR ESTABLISHING A CONSUMER DATA RIGHT IN NEW ZEALANDFDATA ANZ Download Document Here

FDATA WELCOMES THE START OF OPEN BANKING

Leading fintech trade association calls launch “the first waypoint on a long journey” The Financial Data and Technology Association, the leading advocate of open banking in the UK and around the world, has welcomed the parallel implementation of PSD2 across Europe, and the launch of Open Banking amongst the large banks here in the UK. […]

Open Banking 2020-2030 Summit

FDATA is hosting a Summit in December to chart the Open Banking journey to 2030. Open banking is the midwife of innovation. It is driving innovation at a breathtaking rate. The consumer tools of the future have not yet been invented. This is the fintech revolution in action. But the journey is long, and we’ve […]

The Platformization of the Banking Industry

Understand what Banking as a Platform (BaaP) is and how consumer expectations will change under this concept This article was originally posted in portuguese in my column at Exame, the main business magazine in Brazil. It can be found at the https://bit.ly/BD_exame2 Download Document Here

FDATA Europe Resonse to HM Treaury’s Payment Landscape Review Call for Evidence

On behalf of the membership of FDATA Europe, please find our response to the questions set forth in the Payments Landscape Review Call for Evidence, 2020. Download Document Here

Future Directions – for the Consumer Data Right – Summary Poster

A Summary of the Final Report Download Poster of Future Directions

Future Directions for the Consumer Data Right – Chapter 4 – Part 2

A Breakdown of the Inquiry into Future Directions for the Consumer Data Right –Final Report Download Document Here

Future Directions for the Consumer Data Right – Chapter 4

A Breakdown of the Inquiry into Future Directions for the Consumer Data Right –Final Report Download Document Here

Future Directions for the Consumer Data Right – Chapter 3

A Breakdown of the Inquiry into Future Directions for the Consumer Data Right –Final Report Download Document Here

Future Directions for the Consumer Data Right – Chapter 2

A Breakdown of the Inquiry into Future Directions for the Consumer Data Right –Final Report Download Document Here

Future Directions – for the Consumer Data Right

A Breakdown of the Inquiry into Future Directions for the Consumer Data Right –Final Report Download Document Here

Member Spotlight: Intuit

Intuit is a global technology platform that helps customers and communities overcome their most important financial challenges. Serving approximately 100 million customers worldwide with TurboTax, QuickBooks, Credit Karma and Mint, Intuit believes that everyone should have the opportunity to prosper and works tirelessly to find new, innovative ways to deliver on this belief. Founded 38 […]

FDATA Australasia

What is FData The Financial Data and Technology Association is a not-for-profit global association for financial sector companies that use open finance in their business models. Our members provide innovative financial applications and services to empower customers to make better decisions and take fuller control of their financial lives across all their payment accounts, credit […]

FDATA North America: White House EO Will Help Individuals, Families and Small Businesses Recovering From Pandemic

Contact: Kerrie Rushton, (202) 365-6338, krushton@allonadvocacy.com July 9, 2021, Washington, DC – The Financial Data and Technology Association (FDATA) of North America today issued a statement following the release of President Joe Biden’s Executive Order on financial competition. In the order, the president directs the Consumer Financial Protection Bureau (CFPB) to issue a regulation that would […]

Open Letter to CMA re Future of OBIE – June2021 (2)

We, as leading financial technology companies and their representatives, are writing to you in advance of the CMA Board’s consideration of the future of the Open Banking Implementation Entity (OBIE). We welcome the CMA’s recent review of the Open Banking Future Entity, however we have concerns about the process of reviewing UK Finance’s (UKF) proposal, […]

Member Spotlight: Kabbage

In the wake of the Great Recession, Kathryn Petralia and Rob Frohwein launched Kabbage, a startup whose mission would be to use data-driven solutions to empower small businesses to grow with flexibility, efficiency, and prudence. Since then, Kabbage, which is now an American Express company, transformed itself from a funding startup for eBay sellers into […]

FDATA North America Submits Comments to US Financial Regulators’ Request for Information on Financial Institutions’ Use of AI and ML

June 29, 2021, Washington, DC – Today, the Financial Data and Technology Association (FDATA) of North America submitted comments to the US financial regulators as part of their Request for Information (RFI) on financial institutions’ use of artificial intelligence (AI), including machine learning (ML). The Federal Reserve, Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (NCUA), National Credit Union Administration (NCUA), and Office of the Comptroller of the Currency (OCC) sought comments on the use of AI by financial institutions and their products and services to consumers.

2021 Q2 Wrap

Formal SubmissionsOn behalf of our members FDATA responded to a call for formal submissions by the Treasury Department on the proposed changes to Joint Account – Opt-Out model for Open Banking. Download Here 2021 Q2 Wrap

‘OPT-OUT’ JOINT ACCOUNT DATA SHARING MODEL – SUBMISSION

Open Finance, a precursor to the Consumer Data Right, began as a grassroots movement, campaigning for the legal rights of consumers and businesses to have control of their financial data and share this data with businesses of their choice digitally. It is part of a broader suite of Open Data initiatives to empower consumers and […]

Member Spotlight: SaltEdge

Founded in 2013 , Salt Edge Inc., a leader in creating and providing open banking solutions, takes intercommunications and interoperability between banks, third-party service providers, and their end-users to a whole new level. The company achieves this goal by creating stable, secure connectivity channels between financial institutions and their consumers. For consumers, Salt Edge’s solutions […]

Member Spotlight: BillGO

Founded in 2015, BillGO is driven by the core belief that everyone deserves access to a healthy financial future. BillGO helps facilitate this access by providing consumers, billers, fintechs and financial institutions with a faster, smarter, more secure way to pay and manage bills and subscriptions. So how can bill payment technology improve financial wellbeing? […]

FDATA Response to FCA Consultation Paper 21/03 Changes to the SCA-RTS

Below is FDATA Europe’s response to the consultation on the SCA-RTS. We are grateful for the opportunity to respond, and would like to highlight a few points before presenting our formal response and recommendations: • Article 10a exemption for TPPs needs to explicitly carve out the requirement to perform SCA every 90 days, and make […]

The future oversight of the CMA’s open banking remedies, consultation

Below is FDATA Europe’s response to the consultation put forward by the CMA on UK Finance’s report on the proposed Open Banking Future Entity; we are grateful for the additional time provided in order to properly respond to the questions raised. We would like to highlight few points before presenting out formal response and recommendations: […]

Member Spotlight: Codat

Codat works with small businesses across the globe to help them harness their data in a way that allows firms to grow. Founded in the United Kingdom in 2017, Codat recently expanded its operations into North America. How will businesses in the United States and Canada benefit from this move? During the COVID-19 crisis, Codat’s […]

Member Spotlight: Experian

While Experian is primarily recognized as one of the three nationwide credit bureaus, the company has a diverse business that provides an array of data and analytical tools. At its core, Experian is committed to helping people and businesses take control of their financial well-being and to seize new opportunities. In many parts of the […]

PSR Consultation on Consumer Protections for Interbank Payments

FDATA Response to Payment Systems Regulator Consumer Protection in Interbank Payments: Call for Views (CP21/4) FDATA appreciates the opportunity to respond to the PSR’s Call for Views on Consumer Protection in Interbank Payments. We address the questions contained in the CfV, and have also provided an overview of our analysis of PSR CP21/4. Below the […]

FDATA North America Welcomes Three New Members

April 6, Washington, DC – The Financial Data and Technology Association (FDATA) of North America today announced it has added three new members—BillGO, Codat, and ValidiFI— boosting the organization’s roster of member companies and organizations to 28.

Member Spotlight: ValidiFI

Can open finance positively impact the traditional financial services sector? ValidiFI has proven it can. ValidiFI is a technology company that delivers data solutions to business and financial service providers. Simply: through a combination of technology and strategic partnerships, ValidiFI creates better ways to validate and analyze customer information. ValidiFI’s data—which is sourced from banks, […]

Leveling up the UK Market

Leveling up the UK Market: Why the FCA has determined the MCI has got to go [but also why API performance matters] It may seem like a minor change in regulatory policy; it, however, is not. I’ve said that repeatedly about various points in the FCA’s recent consultation on changes to the Regulatory Technical Standards […]

FDATA North America Sends Letter to Canada’s Department of Finance on Next Steps in Delivery of CDF

March 15, 2021, Washington, DC – Today, the Financial Data and Technology Association (FDATA) of North America submitted comments to Canada’s Department of Finance outlining its key recommendations for next steps in the deliver of Customer-Directed Finance (CDF). 

Consumer Data Right

A CHOICE NEEDS TO BE MADEIf the current definition of CDR Data remains unchanged; the ability to permit accreditationto all levels of the eco system is only way that compliance with the legislation can occur. This includes accountants, advisers, brokers, bookkeepers, marketplace participants, etc. Download Document Here

CDR Market Participants

A CHOICE NEEDS TO BE MADEIf the current definition of CDR Data remains unchanged; the ability to permit accreditation to all levels of the ecosystem is the only way that compliance with the legislation can occur. This includes accountants, advisers, brokers, bookkeepers, marketplace participants, etc. Download Document Here

Legal Conflicts in the RTS-SCA Text: The root cause of all 90-Day evil

Anyone who’s paid attention to the issue of 90-Day Reauthentication in the last three years since PSD2 went live in the European market is bound to have noticed the unexplainable and seemingly irrational conflicts that sit within the legal text that frames out the Regulatory Technical Standards (RTS) on Strong Customer Authentication (SCA). Download Document […]

Member Spotlight: Fiserv

Established in 1984, Fiserv is a leading global provider of payments and financial services technology, including data aggregation. Today, the firm, which has been named among Fortune “World’s Most Admired Companies” for eight years running, helps thousands of financial institutions, millions of businesses, and tens of millions of consumers in more than 100 countries move […]

CDR RULES EXPANSION AMENDMENTS – SUBMISSION

Open Finance, a precursor to the Consumer Data Right began as a grassroots movement, campaigning for the legal rights of consumers and businesses to have control of their financial data and to be able to share this data with businesses of their choice digitally. It is part of a broader suite of Open Data initiatives, […]

How SCA and 90-day Reauth Harm Competition & Security

If you’ve read the previous tomes in this series, you’ll know that the FCA’s proposed change to the 90-day reauthentication requirement will have significant positive impact on the industry – and why this course correction is good for the competitive landscape and fintech innovation. You’ll also already know the context for how the rules combining […]

The Detrimental Impact of 90D Reauth & SCA on Fintech, the Market, & End Customers

Secure Customer Authentication (SCA), combined with the requirement for end-users to reauthenticate every 90 days, is meant to provide a secure and reliable way for consumer to connect their bank accounts to regulated fintech services. Or at least that was the intention when it was enshrined in law as part of PSD2’s Regulatory Technical Standards […]

Opposing Forces: The PSD2 Secure Customer Authentication & Regulatory Technical Standards Quagmire

If you use any fintech product that relies on data from your primary bank account, you will have navigated Secure Customer Authentication (SCA) processes. You will also have run into the 90 Day Reauthentication requirement that demands you confirm you want the fintech to have access to your bank account data, while at the same […]

Why the FCA’s Reconsideration of the 90-Day Reauthentication Rule Is a Big, Big Deal for Financial Services

9 February 2021 Download Document here

2021 Q1 Wrap

Formal SubmissionsThe New Zealand government has responded to our ‘Options for a CDR’ submission (September 2020) and has requested a discussion around potential involvement. Data 17th February 2020. Download 2021-Q1-Wrap.pdf

FDATA North America Responds to US CFPB ANPR on Consumer Access to Financial Records

February 3, 2021, Washington, DC – Today, FDATA North America submitted comments to the US Consumer Financial Protection Bureau (CFPB) in response to its Advanced Notice of Proposed Rulemaking (ANPR) regarding consumer access to financial records, or Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

UK BEIS Cross Sector Options Feedback.

Thank you for the opportunity to respond to the BEIS Smart Data Cross Sector Options. The Financial Data and Technology Association (FDATA) has a vested interest how the HMG’s Smart Data initiative is delivered to market, as our members provide valuable digital financial services under Open Banking, and they will continue to serve UK residents […]

FDATA – OBIE VRP & Sweeping Phase 2 Consultation Response

Please provide feedback on the following points: The need for VRP/Sweeping – why it is so much better than any other option for the customer – control, transparency, flexibility, speed, etc. Why this cannot be limited to 2 way sweeping, as this rules out many use cases which offer the most value to customers (eg. […]

Member Spotlight: Envestnet | Yodlee

A founding member of FDATA North America, Envestnet® | Yodlee® is one of the world’s leading data aggregation and analytics platforms for financial service providers. Our platform has proudly fueled innovation for financial institutions (FIs) and FinTech for more than 20 years, and has refined the art of normalizing, categorizing, and enriching data, making the […]

FDATA Response to HM Treasury’s Financial Services Future Regulatory Framework Review

On behalf of the membership of FDATA Europe, please find our response to the questions set forth in the Financial Services Future Regulatory Framework Review, Phase II Consultation. Download Document Here

Member Spotlight: DirectID

  Most consumers are aware that their financial institution holds all kind of information about them that is used to determine everything from interest rates to credit-worthiness. But how could this data be used by small enterprises, and consumers themselves, for consumers’ own benefit? That was the question DirectID CEO James Varga asked about a […]

Prospects for the Brazilian fintech scene in 2021

In 2020, fintechs in Brazil showed their resilience and attracted US$ 1,7 billion in investments. Check some of the trends and opportunities in the sector this year. Download Document Here

FDATA Europe Response: OBIE VRP Proposition Consultation

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Member Spotlight: AIR

The Alliance for Innovative Regulation, or AIR, is a nonprofit organization dedicated to bringing financial regulation into the 21st century. What would consumers and small businesses have to gain from this move? According to AIR, improved financial inclusion, better consumer protection, lower rates of financial crime, and continuous innovation that helps them save and earn more and that drives economic expansion.

The Open Banking journey in Latin America

Bruno Diniz, Managing Partner at Spiralem and Director at FDATA South America, discusses the state of play in Open Banking in Latin America, the opportunities there, and further steps to unleash the potential of Open Banking Download Document Here

FDATA North America Outlines the Negative Consequences of Mandating a 90-Day Reauthentication Requirement

November 17, 2020, Washington, DC – In response to ongoing discussions by large U.S. financial institutions and some policymakers to impose a mandatory 90-day reauthentication requirement for customers wishing to utilize third-party financial tools, the Financial Data and Technology Association (FDATA) of North America today released a paper that outlines the detrimental impact this requirement would have based on the real-world experience of consumers in the European Union and United Kingdom whose access to financial technology tools is hindered by a similar requirement.

Member Spotlight: APImetrics

Headquartered in Seattle, FDATA North America member APImetrics offers the fintech industry’s only intelligent, analytics-driven API performance solution built specifically for the enterprise. By interfacing with all current and legacy API protocols, APImetrics helps companies to know if their APIs are performing as designed. Clients include Microsoft, Philips Signify, leading global banks, and mobile telephone carriers.

FDATA North America Statement on the CFPB ANPR on Dodd-Frank 1033

October 22, Washington, DC – Steve Boms, Executive Director of the Financial Data and Technology Association (FDATA) of North America released the following statement regarding the Consumer Financial Protection Bureau’s advanced notice of proposed rulemaking (ANPR) on Section 1033 of the Dodd-Frank Act.

Submission into NZ CDR – FDATA

Customer-centric design is the process of building your product or service based on the wants, needs, and challenges of your customers. OPTIONS FOR ESTABLISHING A CONSUMER DATA RIGHT IN NEW ZEALANDFDATA ANZ Download Document Here

FDATA Europe Response to FCA’s Quarterly Consultation 29 CP20-18 Chapter 3: Proposal to amend the open banking identification requirements (eIDAS certificates)

On behalf of the membership of FDATA Europe, please find our response to the Quarterly Consultation 29 CP20-18, specifically Chapter 3: Proposal to amend the open banking identification requirements (eIDAS certificates) below. Download Document Here

FDATA North America Options for Governance of Customer-Directed Finance in Canada

As the Department of Finance enters the second phase of its consultative process, FDATA North America provided several suggestions that should act as a guide for the deployment of a successful open finance regime, gleaned from experience in other markets.

FDATA North America Submits Comments to US FDIC on Standard Setting and Voluntary Certification Models for Third-Party Providers

September 21, 2020, Washington, DC – Today, FDATA North America submitted comments to the US Federal Deposit and Insurance Corporation (FDIC) in response to its Request for Information (RFI) on standard setting and voluntary certification for models and third-party providers of technology and other services. 

Member Spotlight: Trustly

Trustly joined FDATA North America to bring more opportunities like these to more consumers in the United States and Canada. “We look forward to helping U.S.and Canadian consumers pay their favorite merchants and billers with our Online Banking Payments service, a modern, simple and safe alternative to cards,” said Alex Gonthier, CEO of Trustly Inc.

Member Spotlight: EQ Bank

EQ Bank is the digital banking platform offered by Equitable Bank, Canada’s Challenger Bank™. Equitable employs more than 900 Canadians and is now the country’s ninth largest independent Schedule I bank. Launched in 2016, EQ Bank provides state-of-the-art digital banking services, including the Savings Plus Account which reimagines banking by offering an everyday high interest rate, plus the flexibility of a checking account, with free transactions, no everyday banking fees, no minimum balances, fast, cheap, and fully transparent international money transfers, and more—all from one account.

Pensions Dashboard Call for Input July 2020.docx (1)

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FDATA North America Submits Comments to US OCC in Response to its ANPR on Digital Activities

July 29, 2020, Washington, DC – Today, FDATA North America submitted comments to the US Office of the Comptroller of the Currency (OCC) in response to its Advanced Notice of Proposed Rulemaking (ANPR) regarding national bank and federal savings associations digital activities. 

FDATA North America Welcomes Two New Members

July 28, 2020, Washington, DC – The Financial Data and Technology Association (FDATA) of North America today announced it has added two new members, boosting the organization’s roster of member companies and organizations united behind the notion that consumers and small businesses should have full utility over their own financial data.

FDATA North America Outlines Competition Issues Surrounding Open Banking

July 17, 2020, Washington, DC – Today, the Financial Data and Technology Association (FDATA) of North America released a paper on competition issues surrounding customer-directed finance and the financial data access competitive landscape in Canada. The paper’s release comes ahead of a virtual presentation by FDATA North America Executive Director Steve Boms, Senator Colin Deacon, and Michael Binetti, partner at Affleck Greene McMurtry LLP.

Member Spotlight: Flinks

Founded in 2016, Flinks is a Montreal-based company that empowers businesses to provide better financial services to consumers and small businesses. Data security and privacy are among the company’s very top priorities.

FDATA Europe Response to European Commission’s Consultation on Retail Payment Strategy for Europe June 2020

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FDATA Europe Response to European Commission’s Consultation on Digital Finance Strategy for Europe / Fintech Action Plan June 2020

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FDATA Europe Response to EBA’s Consultation on Revised Guidelines on Money Laundering and Terrorist Financing Risk Factors: JC 2019 87 CP

Please find below FDATA’s formal submission of response to the EBA’s Consultation on Revised Guidelines on Money Laundering and Terrorist Financing Risk Factors. Due to the limitations of the response form provided online and the lack of option to attach supporting evidence, we take this opportunity to send our analysis and position via email.We ask […]

FDATA Europe Response to EBA’s Consultation on Revised Guidelines on Money Laundering and Terrorist Financing Risk Factors: JC 2019 87 CP

Please find below FDATA’s formal submission of response to the EBA’s Consultation on Revised Guidelines on Money Laundering and Terrorist Financing Risk Factors. Due to the limitations of the response form provided online and the lack of option to attach supporting evidence, we take this opportunity to send our analysis and position via email. Download […]

FDATA successful in collaborative bid for £23m GOFCoE funding

Following recent notification by the UK Government, we are delighted to announce that the Global Open Finance Centre of Excellence (GOFCoE) has been successful in acquiring a seed fund of £23m by way of grant, to cornerstone its investment strategy. This major award is part of a much larger funding strategy to build a world-class [...]

FDATA Successful in Collaborative Bid for £23m GOFCoE Funding

June 26, 2020, Edinburgh, Scotland: Today, FDATA Global Executive Chairman Gavin Littlejohn announced in a letter to FDATA membership the association’s success in acquiring £23m in funding for the Global Open Finance Centre of Excellence (GOFCoE) to advance Open Finance across the United Kingdom, Europe, and around the world. 

Member Spotlight: Fintech Growth Syndicate

Since its founding in 2016, Canada’s Fintech Growth Syndicate (FGS) has won multiple awards and helped companies transform through corporate innovation. FGS is a trusted innovation firm for large international and Canadian corporations, visionary startups, multi-stakeholder organizations, academic institutions, and governments.

FDATA North America Statement on Mastercard Acquisition of Finicity

June 23, 2020, Washington, DC: Steve Boms, executive director of the Financial Data and Technology Association (FDATA) North America released the following statement regarding Mastercard’s acquisition of Finicity.

FDATA North America Outlines Competition Issues Surrounding Open Banking

June 2, 2020, Washington, DC – Today, the Financial Data and Technology Association (FDATA) of North America released a paper on competition issues surrounding open finance and the financial data access competitive landscape in the United States. The paper’s release comes ahead of a virtual presentation by FDATA North America Executive Director Steve Boms and Duane Pozza, partner at Wiley LLP.

Regulatory Sandbox joins other regulatory initiatives and brings optimism to fintechs in Brazil

Despite the turbulent year, a major movement of regulatory and infrastructure updates planned for 2020 is following its course The portuguese version of this article can be found at FEBRABAN’s Noomis platform in the link: https://bit.ly/bdnoomis6 Download Document Here

FDATA North America Submits Comments to US CFPB on Consumer Financial Protection Law

May 27, 2020, Washington, DC – Today, FDATA North America submitted comments to the US Consumer Financial Protection Bureau’s (CFPB) Task Force on Federal Financial Law following its Request for Information on options to harmonize, modernize, and update Federal consumer financial protection laws. 

FDATA North America Welcomes Four New Members

May 26, 2020, Washington, DC – The Financial Data and Technology Association (FDATA) of North America today announced it has added four new members, boosting the organization’s roster of member companies and organizations united behind the notion that consumers and small businesses should have full utility over their own financial data.

FDATA North America Submits Letter to House Financial Services Committee on Consumer Financial Data Privacy

May 21, 2020, Washington, DC – Today, FDATA North America submitted a letter to the U.S. House Committee on Financial Services on consumer financial data privacy.

Member Spotlight: Questrade

Questrade, an FDATA North America founding member, offers Canadians simpler and more affordable ways to become financially successful and secure. Founded in 1999, the firm is now the country’s fastest growing online brokerage firm, and has been named as one of Canada’s Best Managed Companies for nine consecutive years.

Member Spotlight: Wealthica

In 2015, Martin Leclair and Simon Boulet launched Montreal-based Wealthica to “challenge the status quo of financial institutions and portfolio advisers.” The company continues that mission today by helping tens of thousands of investors see all their investments on a single dashboard.

FDATA North America and Canadian Lenders Association Call for Fintech Participation in Canada’s COVID-19 Response

April 24, 2020, Washington, DC and Toronto -The Financial Data and Technology Association (FDATA) North America today announced its endorsement of the Canadian Lenders Association (CLA) proposal to include financial technology (fintech) participation in Canada’s COVID-19-related financial relief programs for small and medium-sized enterprises (SMEs).

The Detrimental Impacts of SCA Reauthentication to Open Banking

The Financial Data and Technology Association (FDATA), on behalf of its members, is asking the European Commission and the European Banking Authority to urgently revisit the requirements on Secure Customer Authentication and 90-day Reauthentication, due to its extremely detrimental impact to Third Party Providers (TPPs). Companies who have operated as TPPs pre-PSD2, as well as […]

Member Spotlight: Mogo

Founded in 2003, Mogo is Vancouver-based financial technology company that offers a finance app that empowers consumers with simple solutions to help them get in control of their financial wellness.

Member Spotlight: VoPay

VoPay, whose mission is to digitize online bank account payments with speed, transparency and traceability, joined FDATA North America because it believes creating connections between financial institutions and global digital enterprises will “democratize financial services for everyone.”

FDATA Europe Response to FCA’s Call for Input: Open Finance

What action can we take to help ensure the potential of open banking is maximised, for instance to support the development of new open banking services? Download Document Here

FDATA North America to Highlight the Need for a Legal Consumer Data Right at CFPB Data Access Symposium

February 25, 2020, Washington, DC – FDATA North America has submitted remarks to the Consumer Protection Financial Bureau (CFPB) in advance of tomorrow’s symposium on Consumer Access to Financial Records.

Risks to open banking due to scope of AML legislation

The Financial Data and Technology Association (FDATA), on behalf of its members, is asking the European Commission to amend the 5th Anti-Money Laundering Directive to remove account information services providers (AISPs) and payment initiation services providers (PISP) from its scope, as soon as the opportunity arises. The inclusion of these services under European AML legislation […]

FDATA North America Statement on Clearing House Purchase of Akoya

February 20, 2020, Washington, DC: Steve Boms, executive director of the Financial Data and Technology Association (FDATA) North America released the following statement regarding The Clearing House’s acquisition of Akoya.

FDATA anuncia Bruno Diniz como líder na América do Sul

São Paulo, 3 de fevereiro de 2020 – Bruno Diniz, um dos especialistas mais proeminentes em fintech do Brasil e cofundador da Spiralem, foi nomeado Líder da América do Sul pela (FDATA) Financial Data and Technology Association. Autor do recém-lançado livro “O Fenômeno Fintech”, da Alta Books, Bruno começa a exercer imediatamente a função, alocado […]

FDATA anuncia Bruno Diniz como líder na América do Sul

São Paulo, 3 de fevereiro de 2020 – Bruno Diniz, um dos especialistas mais proeminentes em fintech do Brasil e cofundador da Spiralem, foi nomeado Líder da América do Sul pela (FDATA) Financial Data and Technology Association. Autor do recém-lançado livro “O Fenômeno Fintech”, da Alta Books, Bruno começa a exercer imediatamente a função, alocado […]

LEADING INDUSTRY EXPERT TO HEAD UP FINTECH TRADE ASSOCIATION’S SOUTH AMERICA CHAPTER

Bruno Diniz, one of the most prominent experts in fintech in Brazil and co-founder of Spiralem, has been appointed as South America Chapter Leader with the Financial Data and Technology Association (FDATA). Bruno will begin the role with immediate effect, from the newly launched chapter’s headquarters in Sao Paulo, Brazil. FDATA is now operating in […]

FDATA North America Statement on Department of Finance Canada Open Banking Report

January 31, 2020, Washington, D.C. – The Department of Finance Canada today released “Consumer-Directed Finance: The Future of Financial Services,” which is the result of more than nine months of consultation with stakeholders in the financial services and financial technology sectors. Financial Data and Technology Association (FDATA) of North America Executive Director Steve Boms issued the following statement upon release of the report:

FDATA South America – Respostas à Consulta Pública 73_2019 (Open Banking)

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Comments to the Public Consultation Document nº 73/2019 – Open Financial System Implementation Proposal (Open Banking)

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FDATA North America Highlights the Importance of Credential-Based Authentication in the Absence of a Viable Alternative

January 30, 2020, Washington, DC – Today, FDATA North America released a paper that summarizes the critical need for credential-based authentication to continue in order for consumers to maintain access to the tools on which they depend to manage their financial wellness.

FINTECH TRADE ASSOCIATION APPOINTS RENOWNED INDUSTRY EXPERT AS ITS EUROPEAN LEADER

Ghela Boskovich, the economist, fintech expert and diversity champion has been appointed as the European Chapter Leader at the Financial Data and Technology Association (FDATA). She goes into post with immediate effect and joins fellow chapter leaders at FDATA North America, FDATA Australia/New Zealand and FDATA Asia.  The Financial Data and Technology Association is a […]

FDATA North America’s Response to Visa’s Acquisition of Plaid

Steve Boms, executive director of the Financial Data and Technology Association (FDATA) North America released the following statement regarding Visa’s acquisition of Plaid

FDATA North America Submits Comments to US House Financial Technology Task Force on Big Data in Financial Services

November 20, 2019, Washington, DC – Today, FDATA North America submitted comments to the US House Financial Services Committee Task Force on Financial Technology in advance of its November 21st hearing, “Banking on Your Data: the Role of Big Data in Financial Services.”

FDATA North America Outlines “Essential Ingredients” for Industry-Led Open Banking Work Groups

November 19, 2019, Washington, DC – FDATA North America today announced the release of a white paper that provides guidance to United States and Canadian standards-creation bodies and policymakers as they seek to establish industry-led working groups that would begin to design voluntary standards around open banking regimes in their respective countries.

FDATA North America Submits Whitepaper to Finance Canada on Digital Identity

October 4, 2019, Washington, DC – Today, FDATA North America submitted a whitepaper to Canada’s Department of Finance on digital identity and the notion that it is not a necessary component of open banking.

FDATA North America Submits Comments to US House Financial Technology Task Force on Alternative Data in Underwriting

July 24, 2019 – Today, FDATA North America submitted comments to the US House Financial Services Committee Task Force on Financial Technology in advance of its July 25th hearing, “Examining the Use of Alternative Data on Underwriting and Credit Scoring to Expand Access to Credit.”

FDATA North America Welcomes Five New Members

July 9, Washington, DC – The Financial Data and Technology Association (FDATA) of North America today announced it added five new members in June, bringing the association’s total membership to 22.

FDATA North America Highlights Importance of Consumer Data Ownership Before U.S. Congress

In advance of the first hearing of the United States House of Representatives’ Task Force on Financial Technology, titled “Overseeing the Fintech Revolution: Domestic and International Perspectives on Fintech Regulation,” the Financial Data and Technology Association (FDATA) of North America submitted a Letter for the Record on the importance of adopting a modernized financial regime, similar to other countries around the world, that provides consumers with the legal right to their financial data in a well-managed, safe and secure ecosystem.

NEXT STAGE OF EU DIRECTIVE “WILL CREATE WIDESPREAD CUSTOMER DISRUPTION AFFECTING MANY MILLIONS OF CONSUMERS AND BUSINESSES THROUGHOUT EUROPE”, SAY FINTECH BODIES

Fintech bodies call for National Regulators to work with industry to prioritise customer needs ahead of other regulatory factors The Financial Data and Technology Association (FDATA Europe), in association with the European Third Party Providers Association (ETTPA), has highlighted a material risk to individual and business consumers in the next phase of the implementation of […]

The Unintended Consequences of PSD2 RTS

Document co-authored by FDATA Europe and ETTPA. Download here.

NEXT STAGE OF EU DIRECTIVE “WILL CREATE WIDESPREAD CUSTOMER DISRUPTION AFFECTING MANY MILLIONS OF CONSUMERS AND BUSINESSES THROUGHOUT EUROPE”, SAY FINTECH BODIES

Fintech bodies call for National Regulators to work with industry to prioritise customer needs ahead of other regulatory factors The Financial Data and Technology Association (FDATA Europe), in association with the European Third Party Providers Association (ETTPA), has highlighted a material risk to individual and business consumers in the next phase of the implementation of […]

Financial Data and Technology Association and OpenID Foundation in Global Agreement

May 7, 2019 – The OpenID Foundation (OIDF), the international standardization organization which maintains a standard known as the Financial-grade API (FAPI), and the Financial Data and Technology Association (FDATA Global), the global trade association for companies working to promote ‘open finance’ and best practice financial data sharing, have signed a liaison agreement to enable them to work jointly across the world.

FINANCIAL DATA AND TECHNOLOGY ASSOCIATION AND OPEN ID FOUNDATION IN GLOBAL AGREEMENT

Not-for-profits to campaign jointly on open finance initiatives The OpenID Foundation (OIDF), the international standardisation organisation which maintains a standard known as the Financial-grade API (FAPI), and the Financial Data and Technology Association (FDATA Global), the global trade association for companies working to promote ‘open finance’ and best practise financial data sharing, have signed a […]

FDATA North America Highlights Benefits of Open Banking for U.S. Consumers

April 2, 2019, Washington, DC – The Financial Data and Technology Association of North America today released a new paper, “Opportunities in Open Banking,” that outlines the benefits of open banking for U.S. consumers, businesses, financial institutions and the economy.

FDATA North America Highlights Benefits of Open Banking for Canadian Consumers

March 20, 2019, Washington, DC – In advance of a Canada Standing Senate Committee on Banking, Trade and Commerce hearing on March 21, the Financial Data and Technology Association today released a new paper, “Opportunities in Open Banking,” that outlines the benefits of open banking for Canadian consumers, businesses, financial institutions and the economy.

FDATA North America Submits Comments to US Senate Banking Committee on Data Privacy

FDATA North America has published a submission to Finance Canada’s Open Banking Review.

UK Open Banking – Setting the Record Straight

Across the world, governments, regulators, banks and fintechs are talking about open banking, and also trying to follow the progress and success of UK Open Banking. They sense excitement, threat and opportunity, and there is much talk about innovation, security, standards and risk. But are we all talking about the same thing? What is ‘open […]

Open Banking in the UK: Setting the Record Straight 

FDATA North America has published a submission to Finance Canada’s Open Banking Review.

UK Open Banking – Setting the Record Straight

Across the world, governments, regulators, banks and fintechs are talking about open banking, and also trying to follow the progress and success of UK Open Banking. They sense excitement, threat and opportunity, and there is much talk about innovation, security, standards and risk. But are we all talking about the same thing? What is ‘open banking’?

FDATA’s submission to Finance Canada’s Open Banking Review

FDATA North America has published a submission to Finance Canada’s Open Banking Review.

Open Banking: The Bipartisan Issue of 2019

While the U.S. government hobbles from one crisis to the next — the partial shutdown is just the latest example — policymakers in several other countries are staking out long-term positions that embrace financial technology innovation for the benefit of their citizens.

The consumer case for open banking

Collectively, the fintech members of the Financial Data and Technology Association of North America provide approximately 3.5 million Canadians – about 15 per cent of the country’s adult population – with access to new, technology-powered financial tools that help them manage their finances. Despite an ambiguous regulatory environment that can sometimes lead to blockages and restrictions from their banks, these consumers and small businesses have voted with their smartphones in favour of financial technology.

FDATA Europe’s response to FCA CP 18/25

Click below to see FDATA Europe’s response to the Financial Conduct Authority’s Consultation paper 18/25 – Approach to final Regulatory Technical Standards and EBA guidelines under the revised Payment Services Directive (PSD2). FDATA response to FCA CP 18-25

FDATA Europe response to FCA CP 18/25

Click below to see FDATA Europe’s response to the Financial Conduct Authority’s Consultation paper 18/25 – Approach to final Regulatory Technical Standards and EBA guidelines under the revised Payment Services Directive (PSD2). FDATA response to FCA CP 18-25

FDATA submission to GFIN consultation

FDATA North America has published a submission to the Global Financial Innovation Network’s (GFIN) consultation, via the Bureau of Consumer Financial Protection.

FDATA North America’s submission to the Global Financial Innovation Network

FDATA North America has published a submission to the Global Financial Innovation Network’s (GFIN) consultation, via the Bureau of Consumer Financial Protection. FDATA North America GFIN submission

FDATA North America submission to GFIN consultation

FDATA North America has published a submission to the Global Financial Innovation Network’s (GFIN) consultation, via the Bureau of Consumer Financial Protection.

Steve Boms article on National Newswatch

For Canadian Consumers and Small Businesses, Open Banking is the Way Forward

Coverage of FDATA North America’s launch

American Banker and Finextra cover launch of FDATA North America Sept. 21, 2018, Washington, DC— The launch of the Financial Data and Technology Association’s (FDATA) North America chapter was covered in two major financial publications today. You can read American Banker’s story here, and Finextra’s here.

Coverage of FDATA North America’s launch

American Banker and Finextra cover launch of FDATA North America

Leading Fintech Trade Association Launches North American Arm

FDATA-North America to Advocate for Open Banking Rules in Canada, Mexico & the United States Sept. 20, 2018, Washington, DC— The Financial Data and Technology Association (FDATA), which played a pivotal role over the last five years in crafting the design and implementation of open banking standards in the United Kingdom and in Europe, announced today […]

Leading Fintech Trade Association Launches North American Arm

FDATA-North America to Advocate for Open Banking Rules in Canada, Mexico & the United States

FDATA Europe response to EBA consultation paper

Click below to see FDATA Europe’s members’ feedback on the EBA Draft Guidelines on the conditions to be met to benefit from an exemption from contingency measures under Article 33(6) of Regulation (EU) 2018/389 (RTS on SCA & CSC).  Click to read submission  

FDATA partners with Robo-Advice 2018

FDATA has been named as a media partner for the 2nd UK Robo Advice and Digital Wealth Summit.

FDATA Europe Analysis of PSD2 Implementation Challenges V2

FDATA Europe – Assessment of the Challenges in PSD2 Implementation V2 This report catalogues some of the technical challenges encountered by Third Party Providers (TPPs) during their initial connections with the Open Banking Directory and in particular thereafter with the API connections identified in a technical workshop organised by FDATA . 

FDATA, EMA, techUK, UK Finance publish voluntary guidelines

FDATA, together with the Electronic Money Association, techUK and UK Finance, have published a set of voluntary guidelines and encouraged market behaviours under PSD2 in the ‘transitional period’. You can download them below. Voluntary-Guidelines-and-Encouraged-Market-Behaviours-Under-PSD2-FINAL

Open Banking: FAO CMA Proposed amendments to the Agreed Arrangements

This paper sets out a number of amendments to the Proposed Amendments to the Agreed Arrangements to fulfil the objectives of the Retail Banking Market Investigation Order 2017. Open Banking: Proposed amendments to the Agreed Arrangements

UK’s Open Banking Project Expanded

Open Banking Standards to Expand Functionality and Cover all PSD2 Products The Open Banking Implementation Entity (OBIE), the body set up by the Competition & Markets Authority (CMA) to enable a new, secure way for customers to take control of their financial data and share it with organisations other than their banks, today announces a […]

FDATA paper – right of EU passport under PSD2

This note aims to address some of the market confusion in relation to the rights of firms to move between EU jurisdictions when performing operations related to the second EU Payment Services Directive (PSD2). FDATA – EU Passport under PSD2 – April 2018

RTS deadline

The Regulatory and Technical Standards (RTS) of PSD2 have been published in the Journal of the EU. This starts the clock on an 18 month compliance timescale, meaning that RTS will be in force on 14th September 2019. The publication can be viewed here.

FDATA WELCOMES THE START OF OPEN BANKING

Leading fintech trade association calls launch “the first waypoint on a long journey” The Financial Data and Technology Association, the leading advocate of open banking in the UK and around the world, has welcomed the parallel implementation of PSD2 across Europe, and the launch of Open Banking amongst the large banks here in the UK. […]

Open Banking 2020-2030 Summit

FDATA is hosting a Summit in December to chart the Open Banking journey to 2030. Open banking is the midwife of innovation. It is driving innovation at a breathtaking rate. The consumer tools of the future have not yet been invented. This is the fintech revolution in action. But the journey is long, and we’ve […]

Fintech Connect Live 2017

Fintech Connect Live 2017: 6-7 December FDATA is delighted to be a media partner of Fintech Connect Live 2017 taking place on the 6 and 7 December at Excel London. Combining the hustle and bustle of an exhibition featuring over 3000 visitors, and 200 exhibitors and partners from over 50 countries, FinTech Connect Live is […]

FDATA’s RESPONSE TO HMT’s PSD2 CONSULTATION

Please click the link below to read FDATA’s response to HMT’s consultation on the implementation of PSD2. FDATA submission to HMT – Implementation of the revised EU Payment Services Directive II

FDATA responds to EBA consultation

The Financial Data and Technology Association has responded to the European Banking Authority’s consultation on authorisation and registration under PSD2. The responses (submitted online) are: Q1: Do you consider the objectives of the Guidelines as identified by the EBA to be plausible and complete? If not, please provide your reasoning. FDATA considers the objectives to […]

FDATA responds to CMA order on open banking

The Financial Data and Technology Association (FDATA) has responded to the CMA’s draft order following its publication of the retail banking investigation, which led to the creation of the Implementation Entity. Commenting on the submission, which can be read here, FDATA’s Executive Director Andy Maciver said: “FDATA’s interpretation of the purpose of this order is […]

FDATA response to the CMA’s draft order

Please click the link below to see FDATA’s response to the draft order by the CMA on open banking. FDATA-response-to-CMAs-Order-23.12.16

FDATA Chairman named Fintech convener

Gavin Littlejohn, Chairman of the Financial Data and Technology Association, has been named by the Implementation Entity as the Convener of its Advisory Group on Fintech, and a result will take a seat on the body’s Steering Committee. The Implementation Entity is the group tasked by the Competition and Markets Authority with delivering an open […]

FDATA responds to EBA insurance consultation

The Financial Data and Technology Association has submitted a response to the EBA consultation “Guidelines on the criteria on how to stipulate the minimum montary amount of the professional indemnity insurance under PSD2”. There were seven questions, which can be seen below along with FDATA’s answers: Question 1: Do you agree with the requirement that […]

FDATA ANNOUNCES ADDITION OF CALLCREDIT AS IMPLEMENTATION ENTITY GETS UNDERWAY

The Financial Data and Technology Association (FDATA) has announced another new member, with the addition of the UK’s second largest credit reference agency and consumer data manager Callcredit Information Group. FDATA’s members provide innovative financial applications and services to empower customers to make better decisions and take fuller control of their financial lives across all […]

Another four start-ups join FDATA

The Financial Data and Technology Association has announced another four new start-ups have joined its growing membership ahead of the formal commencement of the Implementation Entity’s work on delivering an API. The companies – Castlight Financial, PayLink, RentData and Truelayer – provide innovative financial applications and services to empower customers to make better decisions FDATA’s […]

FDATA welcomes first bank to its membership

The Financial Data and Technology Association (FDATA) has announced that Sainsbury’s Bank has joined as a member. Sainsbury’s Bank is the first bank to join FDATA, and takes its total number of members to 14 at a critical time for the implementation of open banking. Sainsbury’s Bank was the first supermarket bank to be established […]

FreeAgent becomes 13th member of FDATA

FreeAgent, one of the leading online accountancy software providers, has become the 13th company to join the Financial Data and Technology Association (FDATA). FDATA’s members provide innovative financial applications and services to empower customers to make better decisions and take fuller control of their financial lives across all their accounts, credit cards, loans and investments, and […]

Equifax joins FDATA

The Financial Data and Technology Association (FDATA) has today announced that Equifax has become its latest member. With one of the largest sources of detailed consumer and business data in the UK, Equifax can provide insight into the behaviours and drivers behind the economy helping its clients drive their businesses forward and consumers access the products and services […]

FDATA welcomes another new member

The Financial Data and Technology Association (FDATA) has welcomed another new member as we continue to represent the fintech community in the move towards an open API. FDATA’s members provide innovative financial applications and services to empower customers to make better decisions and take fuller control of their financial lives across all their accounts, credit cards, […]

FDATA COMMENDS CMA FOR FURTHER PROGRESS TOWARDS OPEN BANKING

Fintech’s trade body welcomes end of redaction and committment to direct representation   The Financial Data and Technology Association (FDATA) has today welcomed the Competition and Markets Authority’s Final Report of its Retail Banking Market Investigation.   FDATA’s members provide innovative financial applications and services to empower customers to make better decisions and take fuller control of […]

FDATA response to CMA provisional remedies

Download: FDATA submission response to CMAs Retail banking market investigation – Provisional decision on remedies – 7.6.2016

FDATA responds to CMA’s retail banking market investigation

The Financial Data and Technology Association (FDATA) has today responded to the CMA’s provisional decision on remedies, the penultimate stage of its retail banking market investigation. FDATA’s full response can be read here. Commenting, FDATA’s Executive Director Andy Maciver said: “FDATA has given a broad and strong endorsement to the CMA for its provisional remedies. […]

ANOTHER NEW MEMBER FOR FDATA

The Financial Data and Technology Association has welcomed another new member. people.io – a fintech which puts consumers in control and allows them to earn credits by sharing their data – is led by Nic Oliver and joined FDATA earlier this month. Commenting, FDATA’s Executive Director Andy Maciver said: “It’s great to welcome another new start-up to […]

FDATA WELCOMES CREDIT KUDOS AS NEWEST MEMBER

Credit Kudos, a credit scoring platform that puts the consumer at the helm of the credit profile, has joined the Financial Data and Technology Association (FDATA). The fintech startup, headed by Freddy Kelly and Matt Schofield, uses consumer transaction data to build highly accurate and transparent credit score-cards and affordability metrics. Freddy Kelly presented his company’s model […]

FDATA welcomes new open banking push

The Financial Data and Technology Association (FDATA) has welcomed the decision by the Open Data Institute (ODI) to convene a new group to continue the work of the 2015 Open Banking Working Group. The new group, which includes FDATA, will meet on 14th April for its first discussion. Commenting, FDATA’s Executive Director Andy Maciver said: “A […]

Agenda announced for API discussion

FDATA and techUK has announced the outline agenda for the discussion on APIs to be held in London on 23rd March. It is as follows: Event Host: Keith Saxton, Chairman of techUK Event Chair: Gavin Littlejohn, Chairman of FDATA 09.00 Registration and coffee 09.30 Opening remarks from Keith Saxton 09.45 Opening remarks from Gavin Littlejohn […]

A roundtable discussion on APIs

FDATA and techUK are holding a roundtable discussion:   MOVING FORWARD WITH THE API   Date: Wednesday 23rd March Time: 09.00 to 13.00 Place: tech UK, 10 St Bride Street, London EC4A 4AD   Earlier this month, HM Treasury published the report of the Open Banking Working Group. It puts in place a framework and timetable for the implementation of […]

The Open Banking Standard

OBWG – The Open Banking Standard

OBWG REPORT “A SOLID FOUNDATION” SAYS FDATA

But industry body says rollout of data into API can be wider and much faster HM Treasury has today published the report of the Open Banking Working Group (OBWG), which it commissioned last August to develop a detailed framework for the design of an open API. FDATA Executive Director Andy Maciver was a member of […]

FDATA to sponsor FIMA conference

FDATA can announce that it will be a sponsor of FIMA 2015, to be held in London on 10th and 11th November. If you’re interested and you want to know more, please read on … more information from FIMA below, including details of a discount if you quote FDATA15: ————— Data teams are under increasing […]

FDATA at Conservative Party Conference

The Financial Data and Technology Association (FDATA) organised a debate at the Conservative Party Conference in Manchester yesterday, Monday 5th October. The debate, entitled APIs: The Future of finance and what fintech means for consumers and small businesses and hosted at TechCentral, brought together: Harriet Baldwin MP, Economic Secretary to the Treasury John Midgley, Head of […]

FDATA Director to sit on HMT’s Open Banking Working Group

Andy Maciver, FDATA’s Director, has been invited to be a member of the Steering Committee of the Open Banking Working Group (OBWG). The OBWG has been formed to build upon the UK Government’s call for evidence on data sharing and open data in banking, and has a remit to deliver a framework for an open API […]

FDATA confirmed as media partner for the region’s leading online lending event

LendIt, the largest conference series dedicated to connecting the global online lending community, is returning to London on October 20-21, 2015. The Financial Data and Technology Association (FDATA), the industry body for financial technology (fintech) companies which give consumers more control over their financial data, has today confirmed their participation at LendIt Europe 2015 as a media partner. […]

TWO NEW MEMBERS JOIN FDATA

FDATA is delighted to welcome two new companies as members – Intelliflo and miiCard. Intelliflo offers a web-based business management system to the financial services community, and its Executive Chairman is Nick Eatock. miiCard, whose CEO is James Varga, offers consumers a trusted online identity to help them transact securely online. Both companies would benefit […]

BUDGET ANNOUNCEMENT A “GIANT LEAP” FORWARD SAYS FDATA

Trade body welcomes Treasury’s commitment to open financial data aggregation by the end of 2015 The Financial Data and Technology Association (FDATA), the industry body for financial technology (fintech) companies which give consumers more control over their financial data, has welcomed the announcement in today’s budget that HM Treasury aims to deliver an open API standard by […]

DATA SHARING WILL ALLOW “REVOLUTION” IN CONSUMER MONEY MANAGEMENT SAYS TRADE BODY

Financial Data and Technology Association’s submission to the HMT outlines options for data aggregation industry The Financial Data and Technology Association (FDATA), the industry body for financial technology (fintech) companies which give consumers more control over their financial data, has submitted evidence to HM Treasury on its call for evidence on data sharing and open data in […]

FDATA response to HM Treasury’s call for evidence on data sharing and open data in banking

FDATA submission response to HMTs call for evidence on data sharing and open data in banking – 25.2.2015

FDATA CALLS FOR NEW ERA OF EASIER MONEY MANAGEMENT

Financial Data and Technology Association’s submission to the FCA provides pathway to open access to aggregation services The Financial Data and Technology Association (FDATA), the industry body for financial technology (fintech) companies which give consumers more control over their financial data, has submitted evidence to the FCA on its cash savings market study. FDATA’s members – […]

FDATA response to FCA cash savings market study report

FDATA submission response to FCA cash savings market study – 18.2.2015

FDATA welcomes Treasury call for evidence on open data

The Financial Data and Technology Association (FDATA), the industry body for financial technology (fintech) companies which give consumers more control over their financial data, has welcomed the Treasury’s call for evidence on open data and open banking, and committed to responding to it. The call for evidence was pledged in the Autumn report, which announced […]

FCA published report into savings; includes positive comments on fintech

The Financial Conduct Authority (FCA) has today published its Cash savings market study, which covers both problems in the sector and proposed remedies. One set of remedies, the Convenience Remedies, relate directly to the work of FDATA members in the area of financial data aggregation. FDATA has been in private discussions with the FCA and […]

GROUP LAUNCHES TO GIVE BANK CUSTOMERS CONTROL OF THEIR FINANCES

Today sees the launch of a new trade association to represent financial technology (‘fintech’) companies who aggregate account data to enable consumers to make better decisions and take control of their finances.

FDATA welcomes support for fintech aggregators

The new Financial Data and Technology Association (FDATA), which will formally launch later this month, has welcomed the commitment made to the financial data aggregation industry by the Government in its Autumn Statement. In paragraph 1.171, the statement announced “support for fintech firms who want to use bank data to help consumers and small businesses […]

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