How PaperTrl enhances embedded banking for businesses

Despite the legal uncertainty surrounding the Consumer Financial Protection Bureau's open banking rule—which was recently blocked by a preliminary injunction amid banking industry litigation—the practice of data sharing between banks and fintechs is expanding rapidly in the U.S. Open banking, which allows consumers to easily share their financial data to boost competition, is largely being driven by market forces, with the number of API connections between companies growing significantly as the industry moves away from the less secure method of "screen scraping."

🔓 What Is Open Banking — And Is It Risky? You’ve probably heard the term open banking, but what does it actually mean — and should you be worried about it? ✅ What is Open Banking? Open banking allows you to securely share your financial data (with permission) with trusted third-party providers, such as lenders or banks through encrypted APIs. These providers can access transaction history, spending patterns, and account details to deliver faster, smarter financial services — from personalised lending decisions to budgeting tools. 🔐 Is It Risky? Security is often the biggest concern — and rightly so. The good news is that open banking is highly regulated in the UK: 🔸 Permission-based access only 🔸 Regulated by the FCA 🔸 Bank-level encryption 🔸 You can revoke access at any time So, while no system is without risk, open banking is designed to give consumers more control, not less. In many cases, it helps speed up underwriting, reduces fraud, and improves financial outcomes. 💡 Why It Matters For brokers and customers, open banking can: ✔ Streamline affordability checks ✔ Improve lending accuracy ✔ Reduce paperwork ✔ Deliver faster decisions Open Banking = convenience, transparency & smarter decision-making. If you'd like more information on Open banking or anything else finance related, drop me a message — happy to help.

Hello MCB Bank Limited The MCB Bank application is without question one of the most disappointing and disgusting digital banking experiences ever introduced in history. It’s hard to believe such a major financial institution could release something so broken, unstable, and unreliable. From the very first login, everything feels wrong — slow loading, freezing screens, and endless error messages. The app looks unfinished, like it was rushed without any testing or quality control. Transactions take forever to process, and sometimes they don’t even go through. Money gets deducted but never shows up until a day later, even for transfers within the same MCB accounts. That kind of delay is simply unforgivable in modern banking. The system feels outdated, poorly managed, and totally neglected. Customer support is almost nonexistent; no one responds to emails, calls, or complaints. The bank’s officials show zero interest in solving user issues. Every attempt to reach help ends in frustration. The OTP system constantly fails, leaving users locked out of their own accounts. Notifications come late or never arrive at all. The user interface is clunky, confusing, and unpleasant to navigate. There’s no sign of security or stability anywhere. Every update makes the app slower, heavier, and more useless than before. You can’t rely on it for any serious transaction. Even checking your balance takes forever, and sometimes it shows wrong amounts. Bill payments fail at the final step, wasting your time and energy. The “system error” messages pop up almost daily, with no explanation. It’s clear that MCB doesn’t test or maintain its app properly. The experience is not just disappointing — it’s humiliating for customers who trust this bank. Nothing works as it should, and no one takes responsibility. Internal transfers take 24 hours or more, which is absolutely ridiculous. The developers seem completely disconnected from real customer needs. The service feels dead, abandoned, and disgraceful for a big-name bank. Every user deserves an apology for this disaster of an application. In short, MCB’s app is the most poorly managed, disgusting, and shameful introduction in modern banking history.

Small Business Banking Targeted In Open Banking Initiatives | PYMNTS.com: ... challenger banks and national banks — and have access to the same technology that can be deployed in weeks, not years,” said Agora Services ...

Open Banking on Hold: What the CFPB's Pause Reveals About the Future of Financial Data: For fintech companies, however, the decision is a setback. The open banking rule represented a long-awaited federal standard for accessing customer ...

Open banking lurches onward Banks and fintechs are connecting digitally to share data, amid litigation over a rule to spur competition for financial services. https://buff.ly/3jq9KMV #FinTech #FinServ #Banking #Payments #PayTech

Open banking is moving fast, but legacy systems are holding many #banks back. A great idea can’t thrive on outdated infrastructure💡 From poor #developer experiences to fragmented real-time #payments, we see the same blockers again and again. 👉 Find out which 6 mistakes are slowing down progress and how to avoid them: https://lnkd.in/dWcHmGsh

“Open banking isn’t just about access to data, it’s about making financial data usable to deliver real control, visibility, and automation for customers,” said our Co-Founder, COO & CMO, Guillaume Bouvard. He spoke with IBS Intelligence about how collaboration, trust, and transparency are key to making open banking work. Read the full interview and drop your thoughts in the comments! ⬇️ https://lnkd.in/dFhE_Ng2 #OpenBanking #Fintech #BankingInnovation #SpendManagement #ExpenseManagement

ANALYSIS - Code, compliance and confidence: banks shifting to test automation As banks modernise, automation testing is now essential for software reliability, security, and compliance https://lnkd.in/dRzPz-_d #BankTech #Finserv #Banking #Compliance #Regulation #TestAutomation #QE #QA

The Open Banking Implementation Entity (OBIE) i.e. typically the Central Bank, plays a key role in facilitating the Open Banking infrastructure, (as per the PSD2). By setting up standards and guidelines to ensure secure and standardized data sharing among financial institutions, OBIE ensures that the ecosystem operates smoothly by managing the regulatory and technical frameworks for Open Banking services. OBIE's Role in Facilitating Open Banking Infrastructure 1. Standardized APIs: OBIE develops and maintains the API standards that banks and third-party providers (TPPs) must use. These APIs allow secure data sharing and payment initiation. 2. Regulatory Compliance: OBIE helps banks and TPPs meet regulatory requirements such as PSD2 (Payment Services Directive 2) in the EU and UK. This includes rules on customer authentication and consent management. 3. Security Frameworks: OBIE defines security standards, such as strong customer authentication (SCA) and encryption protocols, to ensure that customer data is shared securely between banks and TPPs. 4. Third-Party Transaction Service Providers (Finetchs & Other ASPs) Certification: OBIE oversees the certification of TPPs, ensuring that only authorized entities can access customer data or initiate payments. 5. Customer Control: Customers retain control over their financial data and give explicit consent for it to be shared or used by third parties through OBIE-compliant mechanisms. 6. Operational Infrastructure: OBIE manages the operational guidelines for onboarding banks and TPPs, including the handling of disputes, service availability, and system reliability.