Article: Why open banking is finally gaining speed

Money, Open Governance

Why open banking is finally gaining speed

After a plodding start, open banking is finally gaining speed in the UK. Users grew from 1 million in January 2020 to 3 million this year. It’s still way behind target and lags countries such as South Korea, which has 20 million open banking users. But it is encouraging given open banking’s potential to revolutionise financial services.

The revised payment services directive (PSD2) that initially drove open banking is three years old. Its goal was to level the playing field for customers by giving third parties digital access to bank infrastructure.

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Article: Startup WhiteSource gets $75 million to find and fix buggy open source components

Free, Open Software, Open Source

Startup WhiteSource gets $75 million to find and fix buggy open source components

Cybersecurity startup WhiteSource announced it has raised $75 million in Series D funding, highlighting how tech and security investors are increasingly focusing on the open source software security market.

The latest investment of $75 million, drawn mostly from Pitango Growth and existing investors M12, Susquehanna Growth Equity, and 83North, is significantly more than the approximately $46 million the company raised combined through previous funding rounds. As part of the deal, Pitango Growth managing partner Isaac Hillel will join WhiteSource’s board of directors.

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Article: LendInvest Explains how it Leverages Open Banking, and Fintech Solutions from Equifax, Jumio to Support Business

Money, Open Governance

LendInvest Explains how it Leverages Open Banking, and Fintech Solutions from Equifax, Jumio to Support Business

Property finance marketplace LendInvest has published a blog post in which it’s requesting people to support the company in certain Buy-to-Let, Bridging and Development AwardsLendInvest notes that it’s a busy award season in property lending. Like most years LendInvest has been recognized for its consistent work during the past year, the company confirmed.

After a difficult year due to the COVID pandemic, LendInvest says it’s “proud to have stayed open for business throughout all three national lockdowns” in the UK.

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Article : Open banking boosts pandemic lending

Money, Open Governance

Open banking boosts pandemic lending

Open banking has played a pivotal role in the credit market since the start of the pandemic, and this trend is expected to continue post-Covid, Equifax has claimed.According to new data from Equifax UK and AccountScore, since the start of the first UK lockdown in March 2020, there has been a 140 per cent surge in the adoption of open banking across the board.

“Facing an unprecedented challenge, commercial and consumer lenders have accelerated their digital transformation, embracing open banking,” said Emma Steeley, chief executive of AccountScore, an Equifax company.

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