Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
shutterstock_1151627729
September 26 2018

SIA launches Open Banking platform

Tim Evershed News, Open Banking Cristina Astore, open banking, SIA

SIA has launched an Open Banking platform that will allow financial services companies to develop their payment services.

The Italian technology firm said its platform will help create applications, minimise development costs and accelerate time-to-market.

Open Banking mirrors the EU’s Payment Services Directive II (PSD2), mandating high street banks to share anonymised customer data with approved third parties, which can include peer-to-peer lenders.

“PSD2 and Open Banking represent an extraordinary opportunity for digital transformation in the payments industry,” said Cristina Astore, director of SIA’s International Division.

Read more: Five ways P2P lenders can capitalise on Open Banking

“SIA’s expertise and technology enable banks and TPPs to support the innovation of business processes, improving the user experience and further raising security levels and speed of payments.”

SIA said its platform aims to create an ecosystem to facilitate collaboration between banks and new market players to encourage the creation of advanced services for both consumers and corporates.

Read more: Lenders gear up for Open Banking revolution

The platform will allow European financial services companies to take advantage of opportunities arising from Open Banking while complying with the regulation.

It allows access to information pertaining to several bank accounts, optimisation in the onboarding of new customers, cash-pooling and liquidity management.

In addition,the Open Banking platform facilitates multi-bank payment orders with secure real-time checks on ownership and availability of funds.

Read more: Fintech investment already ahead of 2017 levels

Assetz Capital co-founder departs UK P2P sector approaches £10bn lending milestone

Related Posts

nikhil-rathi-high-res

Industry News, News, Top 3

FCA boss defends appointment of new supervision and policy head

fca office

Industry News, News, Top 3

FCA pays FundingSecure investors due to delay in addressing complaints

Crypto currency background with various of shiny silver and golden physical cryptocurrencies symbol coins, Bitcoin, Ethereum, Litecoin, zcash, ripple

Cryptocurrency, Industry News, News, Top 3

Aave’s marketplace surpasses $5bn in liquidity

Popular posts:

  • The House Crowd goes into administration
  • Sunak to announce stringent CBILS successor scheme
  • RateSetter to stop investment withdrawals from 26 March
  • Octopus Choice has permanently closed
  • UK Finance calls for global fintech cooperation
  • Metro Bank plans to offer RateSetter lending through…
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by