Bankathon #5 – Next stop: Berlin!

From 21 to 23 November 2017, the FinTech hackathon lights up the capital

The Bankathon is now an established institution taking Europe by storm and with company builder FinLeap as host, figo has the perfect partner on board. This time, the Bankathon will take place in FinLeap’s new ‘Fintech Hub Berlin’, focusing on the Payment Services Directive 2! As it approaches becoming national law, the topic is now driving a whole industry – across Europe. (more…)

PSD2 facts and regrettably still-open questions

That the Payment Service Directive 2 is coming in 2018 and is in fact partially already here is clear to everyone in the market.

So far the public is mainly talking about the consequences for banks and their deployment of modern APIs. But what does PSD2 mean for the providers, the so-called third party providers, who already use or wish to use bank data/bank access in their services? The words licensing, registration and supervision are all being discussed.

Here we present together the essential facts, and at the same time discuss still-open questions.

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DOCYET wins verimi Hackathon and takes home €25,000

verimi Hackathon © HRMLLR

verimi Hackathon © HRMLLR

By integrating the verimi API, the company separates the authentication from the identification of a patient

With the verimi Hackathon, the verimi initiative has got off to an eye-catching start. Within a short window of time, the initiative organized the event with the support of figo. Fifteen teams from home and abroad were on hand to develop ideas in six hours, and with the help of the verimi API, these ideas will complement digital applications with user-friendliness and convenience. Nuzzera took second place, and Supplets came in third with an IoT solution. (more…)

figo partners up for verimi Hackathon on 20 September 2017 in Berlin

€50,000 in cash prizes for creative use cases connected to verimi

verimi works toward a world where digital solutions from many industries can be seamlessly integrated. A digitized everyday life should be experienced without so many of the hurdles faced by users today. It’s a philosophy shared by figo: access to financial sources via our banking API allows third parties to create applications that bring banking out of the bank and into our everyday digital lives. In order to expand the range of products available on the verimi platform, verimi and figo are calling for startups to develop creative use cases for verimi. In addition to €50,000 in prizes, the five top teams will be given access to the pre-launch pipeline and will part of the exclusive go-to-market group. (more…)

figo talks PSD2 Podcast #8 – Bank the ecosystem!

Title pic of figo talks PSD2 Podcast episode 8: bank the ecosystemLet’s talk about the ecosystem model in banking!

We are back from a tiny summer breeze break! Happy to provide you with our first podcast after the little holidays break.

Today we are talking with Jamie Campbell from Bud, Lars Markull and Nadja Schlössel from figo.

In our bubble, it feels like everyone is talking about ecosystem models in banking. So we ask ourselves, is that just us, or are there more people outside thinking about how to successfully transfer the approach into the banking world. Short answer: We know we are not the only ones. Numerous talks to banks, strategy consultants and other players alike have proven the relevance of the topic. Also, the first banks are testing it out. So we invited Jamie Campbell from Bud to discuss the topic in more detail. (more…)

Consorsbank offers customers figo based MultiBanking

More than 10,000 account holders already have the chance to end account chaos

Based on figo technology, Consorsbank has introduced MultiBanking for its customers. They now can also add accounts and deposits they have with other banks after logging into their online banking, giving Consorsbank customers the opportunity to manage all their finances in one place and to keep an eye on their overall financial situation when they want. The technical foundation for this is figo. With its business model, the Hamburg-based FinTech company has opened the banks’ existing data and represents this new, open banking world like no other company. Banks such as Consorsbank have recognized the resulting opportunities and are using figo to offer their customers innovative banking solutions: in this case, MultiBanking. (more…)

figo’s PSD2 | RTS Progress-O-Meter (Infographic)

figo's PSD2|RTS Progress-O-Meter

figo’s PSD2|RTS Progress-O-Meter (Infographic)

 

Here is where you find more PSD2 RTS related Info

  • figo’s RTS Change Log shows you the recent developments regarding changes of the RTS
  • Listen to our figo’s PSD2 Podcast and stay on top of the game with your PSD2 related knowledge

Excursus – Open Letter to EU decision makers on PSD2 RTS

figo's open letter to EU decision makers on PSD2 RTS

Dear Commission Members,

dear MEPs and

dear Members of the European Council,

Dealing with all pros and cons of the debate on the EBA’s Regulatory Technical Standards (RTS) under PSD2 and especially with the “Screen Scraping” fronts must indeed be a challenge. As it comes with far more than the usual number of hurdles. That is, most importantly: regulating fast-evolving technology.  None of us involved can provide solid experience in that regard.   

This open letter is not about the usual pros and cons of this debate. Others have summarised them well. It rather intends to provide you with actual solutions, i.e. smart trade-off ideas that could mean an end to the everlasting “Screen Scraping Debate” and eventually the RTS process. From our point of view, every decision you make on this topic over the next weeks should be challenged by means of the following questions, in addition to PSD2’s general goals or first level regulation limits. (more…)

#figoInside: take four 🎬 – with the cloud-based ERP software weclapp

The series #figoInside entered the next round. This time we present the cloud-based ERP-software weclapp. CEO Ertan Özdil answered our questions and told us, how he got the idea of creating weclapp: “The working world is changing as a result of new technologies and is becoming faster, more mobile and isn’t bound to departmental, local or national borders. This is where weclapp starts. Our ERP software enables us to work in the cloud, beyond any boundaries.”

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View the update on the figo RTS Change Log #2

Click on the pic to get the brand new, second update of ‘RTS Change Log’!

“We did it again! Now that we created our RTS change log in the first place – why not keep it up to date? The EBA just published its Opinion in response to the European Commission intention to amend the EBA Technical Standards. At the same time, it additionally published a version of the RTS that included its proposals for amendments.

In order to enable you to keep track of all these confusing changes from different parties we proudly present the RTS change log #2. Simply click on the image!

figo RTS Change Log #2

What’s the figo RTS Change Log?

figo shares the change log version of the RTS with you! Have you ever wondered about what was actually changed in the Regulatory Technical Standards defining the “technical how to” of the Payment Services Directive 2 (PSD2)? It’s a tough job to keep track of the ever changing “final drafts” of the RTS, right?

We love to make your life easier. With our technology and the related topics. So sharing our progress in keeping track of the changing requirements of relevant banking regulation feels like the right thing to do for us. Enjoy the convenience!

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