This is the first edition of our weekly digest with the latest news and trends in banking and fintech.
TL;DR
Open Banking API’s Bud ($20M), and Tink (€56M) fuel growth with new funding
Nordea and Deutsche Bank announce new partnerships
Open Banking Publishes Operational Guidelines and Checklist
New funding for Raisin ($114M), Lunchr ($34M) and ChartIQ ($17.4M)
Plaid’s Financial Data Empire, Netflix of fintech services, Swift vs Ripple and why Wealth is the next big fintech game changer
Open Banking API providers fuel growth with fresh funding
Bud and Tink just secured new funding to their fuel growth and hold off US-based competitors Plaid and Token. This space will continue to heat up in the upcoming months due to upcoming deadlines for the open banking regulation and increasing bank API fragmentation.
Tink, the European open banking platform headquartered in Sweden, has deposited €56 million in new funding. Leading the round is U.S.-based Insight Venture Partners.
Bud, the U.K. fintech that helps banks connect their apps and data to other fintech companies and financial service providers, has closed over $20 million in further funding.
Plaid, developers of financial services APIs, has been helping developers connect an app to a major U.S. bank account for several years, but this week they expanded that API to include all U.S.
This is believed to be the first time a tier one bank will use a public cloud-based service for a critical piece of infrastructure, such as managing margin calls with its own counterparties. Joseph Macdonald, Deutsche Bank
Drafted in consultation with the industry and our many stakeholders over the past few months, the Guidelines and Checklist complement our API Specifications, Security Profile and Customer Experience Guidelines previously published.
Today we are publishing the documentation of the Account Information and Payment Initiation APIs. In addition, we updated the look and feel of the Developer Portal and announce the Tweadle API.
French startup Lunchr is raising a $34 million funding round (€30 million) from Index Ventures, with existing investors Daphni, Idinvest and Kima Ventures also participating.
Every time I look at Robinhood getting a new investor and most recently Acorns, it strikes me that a mass consumer wealth app isn’t the ‘next big thing’.…
If you’ve used your phone to complete a purchase, apply for a loan, or make an investment, there’s a high probability it’s been facilitated by Plaid. As an infrastructure technology product, Plaid’s…
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