back Back

UK-based Tribe Payments rolls out Open Banking APIs

By Megha Bhattacharya

November 12, 2020

  • Tribe Payments
  • UK
Share

tribe paymentsUK-based payment technology providers, Tribe Payments today announced the release of Open Banking APIs in partnership with Open Banking Europe. The development will allow the FinTech’s clients to leverage Open Banking without the need for creating their own APIs.

The FinTech stated that its Open Banking APIs allow banks and FinTechs to initiate data and payment requests within their existing online or mobile payment flows. The APIs also connect TPPs (Third Party Providers) with Tribe’s clients to process that request.

“Open Banking promised to create competition in financial services and make way for a new wave of consumer-oriented products,” said Alex Reddish, Chief Commercial Officer at Tribe Payments.

“However, it has been difficult for fintechs to embrace it because of the investment and resource required in developing APIs. Tribe has now done the hard work so that others can use Open Banking for payments without needing to develop APIs themselves. The APIs will help create a new level playing field, driving competition and igniting innovation, just as Open Banking set out to do.”

In an interview with IBS Intelligence, Alex Reddish, CCO of Tribe, revealed that the FinTech intends to use its position in the payments ecosystem to embrace Open Banking and its opportunities within data aggregation.

Tribe Payments said that its Open Banking APIs are divided into two groups- Initiating request for payment and Inbound processing of TPP request. The first type of APIs offer extended permissions to initiate payment or data requests from banks or TPPs. The second variety allows TPPs to connect to Tribe’s clients and initiate requests for payment or information.

Previous Article

November 12, 2020

Global broker FXCM Pro joins oneZero’s EcoSystem

Read More
Next Article

November 12, 2020

ZebPay to launch India’s non-fungible crypto token and marketplace

Read More






IBSi Daily News Analysis

UK, Bank

July 12, 2024

Tribe Payments

Global securities lending revenue sees sharp 16% decline to $2.53bn in Q2 2024, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 12, 2024

Nuvei and Mastercard team to enable crypto to fiat conversion

Read More

July 12, 2024

Payset and ClearBank partner for local and cross-border payments

Read More

July 12, 2024

Network International launches Business Payment Solutions with Mastercard

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024