Article: Corporates begin to embrace open banking

Money, Open Governance

Corporates begin to embrace open banking

When regulators developed the principles of open banking and the revised Payment Services Directive (PSD2), their primary intention was to encourage innovation and drive greater competition, so that consumers and small businesses could access a wider range of financial services.

However, open-banking application developers have not ignored the corporate sector. Various companies have introduced solutions in areas such as treasury management, managed IT services, and digital receipts and invoicing.

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Article: Today In Digital-First Banking: TrueLayer Lands $70 Million In Series D; Envestnet Acquires Harvest Savings

Money, Open Governance

Today In Digital-First Banking: TrueLayer Lands $70 Million In Series D; Envestnet Acquires Harvest Savings

In today’s top news in digital-first banking, TrueLayer landed $70 million in a funding round headed up by Addition, while Envestnet had acquired Harvest Savings & Wealth Technologies. Plus, Avant has purchased Zero Financial along with its neobank, Level.

TrueLayer notched $70 million in an Addition-led Series D funding round. The investment will assist the company in furthering the global growth of its open banking-based network and debut new products. TrueLayer is aiming to build out an open banking network that streamlines identity, financial data and payments.

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