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UK insurance and pensions house Aviva is moving in to the cash savings market through a tie up with deposit platform Raisin. 
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Atom Bank has signed a deal with Plaid to introduce Open Banking and payment initiation services to small business customers.
Vineet Anand's insight:
Partnership to engage Plaid in driving secured small business lending process of underwriting for PPP equivalent and other loans. Atom is leverage the payment initiation capabilities of Plaid too.
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Fidelity Investments is to spin off its API-based data sharing startup Akoya as an independent entity that will be jointly owned by Fidelity, The Clearing House Payments Co. and eleven of its member banks.
Vineet Anand's insight:
Akoya to be spun off from Fidelity for API data sharing with ownership of Akoya by 13 members. PSD2 version in the US ... is coming soon! As bank account holders you have the right to determine who can access the information and permit transactions!
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The European Commission is pondering a "regulatory push" to encourage adoption of the new TIPS instant payments service and make it a genuine rival to the card schemes and tech giant-built digital wallets.
Vineet Anand's insight:
TIPS push by EC and PSD2 September release to create an open playing field for incumbents and new operators within EU!
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Santander Spain has opened its API marketplace to its first fintech firm, pan-European savings platform Raisin, enabling customers to register their details with the startup with a simple button press.
Vineet Anand's insight:
Raisin gains access to Santander marketplace for access to information via 'Santander Connect'!
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TrueLayer has launched an Open Banking and PSD2-based payments API, giving businesses and consumers an alternative to card payments and bank transfers.
Vineet Anand's insight:
PSD2 payment initiation API launched by TrueLayer!
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Macquarie Bank has stolen a march on Australia's Big Four by releasing an open banking platform for customers to transfer data to approved third part
Vineet Anand's insight:
Macquarie Bank launches DevXchange allowing customers to securely connect their personal data with 3rd party providers. PSD2 coming to life in Oz! The platform providers an open developer platform and sandbox.
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With PSD2 looming, German regulator Bundeskartellamt has ruled that the country's banking industry is violating competition law by putting up barrier
Vineet Anand's insight:
German banks are placing restrictions on non-bank payment services that are in stark contrast to PSD2 directive - German regulator has indicated violation of competitive law. Banks state "special condition for online banking" that mean customers cannot use their PINs and TANs in non-bank payment systems.
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A new payment network is aiming to help banks turn compliance with the latest payment services directive into a money-spinning exercise.
Vineet Anand's insight:
Token helps banks PSD2 API sharing through digital tokens with banks in control of transaction.
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Finextra: The European Parliament has formally adopted the revised Directive on Payment Services (PSD2), a set of sweeping new rules proposed by the European Commission to boost competition and innovation while improving consumer protections.
Vineet Anand's insight:
PSD2 gets formal approval from EU parliament. New rules will open doors for PSIP's and AISP's to service customers using secure API's with banks. These changes are significant bringing more competition to banks and will drive greater innovation that benefits customers!
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Curated by Vineet Anand
Payment Industry leader passionate about Fintech, Innovation in Banking, Product Management & Strategy, driving revenue growth through client management, business development and P&L focus.
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The Payments ecosystem is evolving at an unprecedented pace driven by mobile, cloud computing, start-up's challenging the behemoths, and new technologies. My personal collection of curated stories and blogs.
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Aviva Save to offer its 15MM client base savings across a portfolio of providers and ability to navigate from one bank to another. Disintermediation of the savings banking customer - further eroding the desire on part of customer to stick with one bank brand name!