Uber is tapping the power of Open Banking to provide unbanked drivers with access to a digital account from BBVA within its mobile app in Mexico.
Techies, venture capitalists and forward thinking bankers gathered in the Big Apple to talk about everything from future unicorns to the future of money at CB Insights’ annual Future of Fintech conference. The Open Platform team shares highlights from the event!
In the constantly evolving world of finance, success is about more than dollars and cents, and relationships are more complex than lines of code that financial consumers will never see. In early May, Susan French, head of product for BBVA Open Platform, a New Digital Businesses portfolio company, took part in a panel discussion at FinovateSpring’s Customer Experience Summit in San Francisco.
As the number of individuals earning their livelihood from gig employment increases, the financial needs of these individuals and the companies that employ them are changing too. This is where Banking-as-a-Service solutions, that enable businesses to embed payments and banking services directly into their applications, become invaluable.
CB Insights has published a new report on the fintech market, 2019 Fintech Trends To Watch, which provides fascinating insight into how fintech companies are evolving around the world. The report investigates the most important trends for banking and payments fintechs here in the US, just the kind of companies that use Open Platform’s APIs, so we thought we’d round up the top trends that are most relevant to our customers in 2019.
Last July, the Office of the Comptroller of the Currency (OCC) announced it would begin accepting applications for special purpose national bank charters by US fintech companies that don’t take customer deposits. We explore the pro and cons of the special purpose charter for fintech companies and discuss potential alternatives.
We’re proud to announce that savings company Digit is now using Open Platform’s APIs to offer Digit Pay, a brand new service to all of its customers. Digit operates the entire flow of funds for Digit Pay using Open Platform’s APIs. Learn more about how Digit works with Open Platform and explore what you can build!
It’s been a monumental year for us at Open Platform, but we know we’re not the only ones. Below is a recap of some of the biggest fintech, banking and payments trends and events of 2018, along with insight from our experts on what to look forward to in 2019.
In the first half of 2018, global investment in fintech companies hit $57.9 billion across 875 deals (venture capital, private equity and mergers and acquisitions), surpassing global investment in fintech for all of 2017 ($37.9 billion). What else is new in fintech investment in 2018? Key statistics from KPMG's The Pulse of Fintech H1 2018 report and what these numbers mean for open banking.