Yapily signs Volume as first VRP customer
Open banking platform Yapily has launched its variable recurring payments (VRP) product and signed one-click payments platform Volume as it first customer.
The Future of Banking – Panel discussion 30/09/2021
The financial sector is being disrupted. Traditional banks are investing in ambitious digital transformation projects and creating ‘super app’ ecosystems. New ‘challenger’ digital banks are promising consumers better services, better experiences and better value. New innovative fintechs are disrupting everything from payments to lending and KYC/AML.
With all this disruption, what does the future of banking hold? How are new technologies and new business models changing the Financial sector? To what extent is Beyond Banking a hype or reality? And most importantly, how can we ensure that, ultimately, it will be the consumer who wins?
In an attempt to answer these questions, TriFinance and Aion Bank joined forces.
The panel consisted of the following speakers:
* Emmanuel Legras, CEO Belgium at Nickel
* Inge Ampe, CCO at Argenta
* Jean-Philippe Thirion, BU Leader Financial Institutions at TriFinance
* Karel Baert, CEO at Febelfin
* Kim Van Esbroeck, Country Head at Aion Bank
Rik Coeckelbergs from The Banking Scene moderated the discussion.
NatWest initiates first live Variable Recurring Payment transaction
VRPs allow customers to connect authorised payments providers to their bank account so that they can make payments on the customer’s behalf within agreed parameters. This is a change to the current Open Banking status quo where TPPs can only initiate single immediate payments and customers have to authenticate each payment separately. Initially scheduled for roll out in January, the Competition and Markets Authority was forced to push back the deadline by six months after acknowledging that the UK’s major banks did not have a realistic chance of meeting the target date. Working with Open Banking infrastrucutre provider TrueLayer, NatWest has delivered its VRP API ahead of schedule and tested the transactions in a live environment. Daniel Globerson, head of bank of APIs at NatWest Group comments: “VRP is ground-breaking innovation that has huge potential to benefit consumers and businesses. It demonstrates the value of industry collaboration, which is crucial if Open Banking is going to evolve into Open Finance.”
What is Open Banking?
In Europe, thanks to PSD2 regulations, all banks must provide an API to give users access to their banking data. Developers can build third party apps using the bank APIs to create a seamless connection to a customer’s banking data.
Find our more about Nordigen – Europe’s first free open banking API: https://nordigen.com/
Check if your fintech startup qualifies for Nordigen’s additional free premium insights: https://nordigen.com/en/blog/nordigen-launches-programme-european-startups/
Yapily, Pleo, and the Power of Open Banking
Current market conditions mean that businesses are looking for ways to better manage costs and increase cash flow more than ever before. But a crucial puzzle-piece to help businesses solve these challenges isn’t being spoken about enough: open banking. Don’t miss this fireside chat between open banking platform Yapily and fintech unicorn Pleo.
Keynote speakers: Joe Armstrong, Senior Product Manager, Pleo & Iain McDougall, Chief Commercial Officer, Yapily
Register your interest for FINTECH LIVE LONDON 2023 here: https://bit.ly/3NPwryA