Dear Subscriber,

In this issue of the PaymentEye e-newsletter, TSB & OpenWrks discuss collaboration and trust post-Open Banking and PSD2.

Elsewhere, Moneyhub talk winning Lloyds Banking Group’s ‘Build an Open Bank Challenge’, and a new infographic from TNS analyses the most frequent kinds of data breaches, and in which countries they occur.

I spoke to Olly Betts, CEO of Open Banking platform OpenWrks, and Richard Davies, Commercial Banking Director, TSB, to find out why collaboration post-PSD2 and Open Banking is so essential, and how the two sides can come out stronger.

The team demonstrated their smart “My Financial Assistant”, a machine-learning algorithm that analyses a user’s financial accounts and transactions to discover intelligent actionable insights that help make customers feel more empowered and make better financial decisions.

Samsung Electronics today announced that its digital wallet, Samsung Pay, is now available to Danske Bank card holders in Northern Ireland.

If any of these aspirations, either knowingly or unknowingly – as is often the case – lead you into what’s considered a high-risk industry, you will need to take certain precautions. Whether you dive in or you drift into these often treacherous but potentially rewarding waters without the proper knowledge and tools, you stand to incur exorbitant fees, imperil your customers, damage your reputation and, quite possibly, sink your business. By Jared Ronski, Co-Founder of MerchACT.

How to Separate the Contenders from the Pretenders in Online Identity Verification Vendors.