Our Scans · (FS.8.03) Open Banking · Weekly Summary

• [New] The global payments industry is in transformation, with five key trends driving significant changes from infrastructure investment and the rise of new payment rails to the exploration of central bank digital currencies, the potential of Open Banking, and increased regulatory scrutiny. hollandfintech
• [New] Ministers will crack down on illegal workers already in Britain, with more raids and moves to make it harder to open bank accounts. The Sun
• [New] Brazil's central bank chief Roberto Campos Neto on Friday said he believes credit cards will cease to exist soon due to the growth of the open finance system, through which clients authorize financial data sharing with different institutions. Cyprus Mail
• [New] Verizon and other retailers are creating neobanks that will allow customers to open a bank account, while smaller companies are partnering with payment processors to give their customers mobile payment options. Forbes
• [New] Kenyan open finance infrastructure startup Credrails partnered with Access Bank to develop open finance rails that will dramatically improve the experience of banking customers across Africa. Transport Times
• [New] In 2021, Singapore continued to pursue its ambition to become a world leader in fintech innovation, multiplying initiatives to foster green fintech, explore opportunities related on central bank digital currency (CBDC), and lay the foundation for open finance. Fintech Singapore
• [New] Integrating open banking technology into the American Express application and risk analysis process will allow prospective card members to seamlessly connect to their bank accounts and instantly verify their identity, income and account information with American Express. Finextra Research
• 2018 will be a big year for doing digital properly and becoming an Open Bank. 11:FS
• As the first central bank-regulated open finance platform in the MENA region, we can now create opportunities for process improvement and new value creation for businesses. / Bahrain The Fintech Times
• A unit of South Africa's third-largest bank by assets plans to open a representative office in Dubai in 2026 to benefit from growing trade and investment between the Middle East and Africa. TechDailyPost.co.za | Tech News | Trends | Tech Events
• Malaysia currently has three digital banks that's open to the public and it appears that Boost Bank could be the first to enable contactless mobile payments via Google Pay. SoyaCincau
• With near-final approval in 2024, the SAFE Banking Act could be fully implemented by late 2025, enabling licensed cannabis businesses to open bank accounts, secure loans, and accept digital payments. MyCannabis.com
• The partnership between Nationwide and Jumio will provide much needed flexibility to open and manage accounts online without the use of a physical bank branch, creating a faster online application process for customers. Information Age
• The government of Poland has allowed Ukrainians to open bank accounts, which InterManager has suggested could be a way forward for solving the payment situation of Ukrainian seafarers. Splash247
• With a direct connection to the North American banking, lending and wealth management ecosystem, Mastercard will extend Finicity's reach to be a one-stop partner for any consumer, bank, merchant, fintech or government's data, payment and open banking needs. Mastercard Context Exchange
• The Saudi Central Bank (SAMA) is working on strengthening the Saudi Arabian fintech ecosystem, and in doing so, has recognised the potential of open banking. The Fintech Times
• Apple, which allows customers to connect their bank accounts to their iPhone's Wallet app, will account for the majority of activity in open banking - a system paid for by major banks - by the end of 2024. The Telegraph
• Upcoming U.S. regulation around open banking likely will make bank-FinTech partnerships a necessity. PYMNTS.com
• Open banking solution provider Brankas has announced a new integration that will allow MPT DriveHub app users in the Philippines to reload using their local bank accounts. Fintech News Philippines
• API-driven Open Banking helps greatly improve cash visibility, reducing the risk of human error, allowing corporates to orchestrate their multiple accounts held at various banks in one place, and providing better oversight of globally scattered corporate bank data in real time. FinExtra
• Fintech firms in Saudi Arabia are set to get a boost in new business opportunities as the Saudi Central Bank (SAMA) announced the launch of a new open banking services lab to allow businesses to test out their products against an established framework. Islamic Finance News
• The Saudi Central Bank (SAMA) announced on Tuesday granting of permits to a new batch of companies: Lean Technologies and Mod5r will provide Open Banking Solutions, bringing the total number of permitted Fintech companies operating under its Regulatory Sandbox to 38. Zawya

Last updated: 11 September 2025