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A tale of Open Banking to Embedded Finance

One of the EBAday sessions covered the development of Open Banking and introduced a new topic: embedded finance. Embedded finance can be seen as an evolution of how Open Banking is delivered. Where Open Banking forced banks to open Application Programming Interfaces (APIs) to access partner and customer data, embedded finance is there to provide further seamless integration of banking services.

EBAday 2022 is just around the corner: existing trends evolve, new ones emerge

Understanding future trends and strategic development of the European payments landscape: that is what EBAday, one of the leading payments conferences in Europe, is all about. This year, on 31 May and 1 June, EBAday will take place again as a physical, face-to-face event in Vienna. Worldline will be present at this seventeenth edition of EBAday as a partner, hosting and attending various knowledge sessions and welcoming the attending delegates at booth #28.

Account-to-Account payments: What are the main benefits?

The deployment of Open Banking enables account-to-account payments, based on the usage of the PSD2 banking APIs, to grow in popularity. According to our evaluation, Account-to-Account payments (A2A) are predicted to cover around 30 % of all e-commerce payment in Europe within the next five years. But what benefits does this new payment method offer to consumers and merchants compared to traditional payment methods?

Open Banking is the answer to insurers’ challenges

Currently a hot topic in the financial market, Open Banking is the culmination of significant and long-lasting trends across the digital economy. These trends are fuelled by innovations and ever-changing customer behaviours and expectations. However, through the introduction of the Revised Payment Service Directive – or PSD2 – the European Commission has really kickstarted the acceleration of Open Banking throughout the world. As the insurance industry is facing many of the same challenges as banks, Open Banking will also play a pivotal role in its successful evolution.

Open Banking and Credit Assessment

No part of the financial sector has more to gain from PSD2 opportunities than the credit & risk assessment process. Within the secure and user-consent driven framework of PSD2, credit institutions, borrowers and merchants all have the opportunity to embrace a faster, fairer, data-driven credit assessment approach which has clear benefits for all parties.