Month: October 2016

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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 in the UK, and provides loans, credit cards, insurance products, savings accounts, and travel money.

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.

Commenting, Andy Maciver, FDATA’s Executive Director, said:

“This is a great development for FDATA, as we welcome our first challenger bank into the membership. This shows the breadth of FDATA’s membership, which as well as Sainsbury’s Bank now includes personal finance management platforms, credit reference agencies, accountancy providers and lenders, amongst other industries.

“We are entering a crucial time for the creation of an open banking regime and the implementation of an API. Sainsbury’s Bank is a forward-thinking bank that puts its customers at the heart of everything it does and making the right decisions for its customers is a key part of this. We are delighted to have their influence and expertise as part of our membership.”

Sainsbury’s Bank Chief Customer Officer David Jones said:

“We are looking forward to engaging with the FDATA members and their stakeholders and ensuring we stay well-informed and well-positioned to look after the needs of Sainsbury’s customers in the ever-changing world of digital and data management.”

Link to Sainsbury’s Bank

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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 it is currently fully engaged in the process of creating an API as mandated by the CMA.

FreeAgent, in common with all of FDATA’s members, will be able to use an API to improve the way it services its customers, and with its added weight behind FDATA the trade assocation will continue to push for a fuller, faster open banking regime to be in place.

Commenting, FDATA’s Executive Director Andy Maciver said:

“FreeAgent is one of the most respected operators in the online accounting space, and it is a huge coup for FDATA to have them on board as a member. We are entering a hugely important phase, and with more members joining FDATA on a regular basis we can increasingly speak for the widest spectrum of the fintech industry as we push towards the API era.”

Ed Molyneux, CEO and co-founder of FreeAgent, said:
“We are delighted to join FDATA, as we firmly believe that opening up Britain’s financial sector to financial data and technology will be hugely beneficial for millions of freelancers and small business owners across the country.


“With the government aiming to implement its Making Tax Digital strategy over the coming years, small business owners require better access than ever to their financial data – and need to be able to seamlessly feed it into the multitude of apps and online software that they use to manage their daily business admin.”

Link to FreeAgent

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