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BIANNUAL SERIES, VOLUME 1 Case Studies ebook MARCH 2021 Open Future World Case studies FEATURING Banco Original - Belvo - BNP Paribas - Brankas - CarFinance 247 - Cielo - Credit Kudos - Creditfix - DirectID - eCebuana - equensWorldline - Experian - Freetrade - Greater Than X - Hi Mum! Said Dad - Knab - Konsentus - Mercer - Mobills - Moneyhub - Nutmeg - Ordo - PFP Energy - Regional Australia Bank - Revolut - Schroders - Sensedia - Serve & Protect Credit Union - Snoop - Sugi - Target - Token - tred - TrueLayer SENIOR PARTNERS
FOREWORD OPEN FUTURE WORLD MARCH 2021
With thanks to our partners…
SPONSORS
SENIOR PARTNERS WELCOME
Welcome to the first Open Future World Case
Studies ebook – a collaborative effort to share
Moneyhub is the leading Open Finance platform that enhances the lifetime
financial wellness of people, their communities and their businesses.
some of today’s most interesting examples of
Moneyhub’s APIs and white label solutions power businesses - both from
within and from outside of financial services - with data connections and
intelligence, leveraging Open Banking payments to enable hyper-personalised
experiences that drive customer engagement.
open banking (and open finance).
We’d like to thank all the contributors and supporters who made this possible. It’s an
exciting time to be involved with the open finance community, and these case studies
illustrate just how quickly things are progressing:
• Open banking has a growing role in delivering new, better tools for credit /
Sensedia has extensive experience in helping financial services providers
affordability assessments. The pandemic has shown the community’s remarkable
develop and implement online solutions that enable them to thrive in an Open
ability to deliver new solutions, at speed.
Finance/Open Banking environment. With offices in the UK, Brazil and Peru,
• Consumer-facing apps can have real impact – whether that’s in improving
Sensedia is recognised by Gartner in its Magic Quadrant as ‘visionary’ and by
financial wellbeing or helping us save the planet. It feels as if we’re only in the NICK CABRERA
Forrester Wave as a ‘strong performer'.
early stages of exploiting this potential. CO FOUNDER,
OPEN FUTURE WORLD
• It’s a global movement, and Brazil is clearly one to watch – so brush up your
Portuguese!
• Open banking payments are taking off.
As well as highlighting the benefits that open finance is starting to deliver, this ebook
Token is an open banking payments platform driving the shift from traditional
aims to offer a deeper understanding of what’s involved – how banks, fintechs and other
payment methods to bank payments with best-in-class, Pan-European bank
partners are overcoming challenges to turn opportunities into reality.
connectivity, data and compliance capabilities. With Token’s complete toolkit,
merchants, PSPs, and banks create new capabilities and revenue streams
through our broad connectivity to banks. Token is both bank and developer. This ebook marks the launch of a new series, with the next issue planned for September.
Please get in touch with any feedback and suggestions for how we can improve, or if MARIE WALKER
Token Pay offers the simplest way to bypass traditional methods and accept
you’d like to be involved. CO FOUNDER,
faster, lower cost bank payments. Token Pay provides secure, unified access to OPEN FUTURE WORLD
banks in Europe to initiate real-time account-to-account payments straight
from apps and websites. All from a single interface.
About Open Future World
TrueLayer provides global financial connectivity through open APIs. Our open
banking platform empowers engineers, innovators and enterprises in every Open Future World brings together the best people and ideas from the world of open banking and open finance.
industry to create smarter financial services. Founded in 2016, TrueLayer is We’re supporting innovation and progress in this collaborative community, sharing useful insights and helping to
connected to major banks globally, backed by leading venture capital including
build relationships.
Tencent, Temasek, Northzone, Anthemis, Mouro Capital and Connect Ventures,
and trusted by some of the biggest names in fintech including Revolut,
• Our directory – offers a growing global Who’s Who for the community, helping members raise their profile
Trading 212, and Zopa.
and discoverability.
• The Daily News Edit provides a quick update on the latest news and views, building into a searchable archive
alongside interesting reports and videos.
• We host the global Open Banking World Congress and other virtual / live events.
If you would like to submit a case study, or work with us on future ebooks, please get in touch! www.openfuture.world
Editorial: marie@openfuture.world Partnering: nick@openfuture.world
2 Please follow or connect with us through LinkedIn and Twitter 3
INDEX OPEN FUTURE WORLD MARCH 2021
8 HOW OPEN BANKING POWERED QR CODE 14 PARTNERING TO TRANSFORM DIGITAL 22 AGILE COLLABORATION FOR PSD2 28 EMPOWERING RETAIL INVESTORS WITH
PAYMENTS WITH AUTOMATED GIFT AID FINANCE COMPLIANCE INSTANT BANK PAYMENTS
HELPED RAISE £12,000 AT A VIRTUAL Revolut / TrueLayer Knab / Konsentus Freetrade / TrueLayer
AWARDS DINNER TO TACKLE HOMELESSNESS How the partnership delivered a single app with Online bank Knab’s decision to adopt a Minimum Building and communicating a scalable payment
Moneyhub / Schroders simple account aggregation and funds transfer – Viable Product (MVP) approach before a planned solution amid surging demand. Seamless account
key to the challenger bank’s success refresh to provide a more open architecture, and funding offers better customer experience,
Direct instant payments – convenient for donors, Konsentus’ role in fraud protection improved deposit reconciliation and low costs
cost-effective for charities – offer a model for
micro-donations of the future. Convenience is the
biggest driver to positive behaviours, and finance
16 INSTANT ACCOUNT-TO-ACCOUNT (A2A)
is no different
PAYMENTS FOR FRENCH RETAILERS 24 HELPING EVERYDAY AUSTRALIANS 30 IN
Ordo worked with PFP to enable PFP call centre staff to
THE NEWS...PARTNERSHIP
either the Ordo App and Web solution, or the Ordo bulk
BNP Paribas / Token
UNDERSTANDhave
THEaccess
VALUE to aOF
fullyTHE CONSUMER
secure payment platform, News
uploadhighlights relating
capability when to partnership
sending from for
out mulitiple requests
DATA RIGHT: A BETTER APPROACH TO
myordo.com, allowing them to easily take instant payment recent months…
payment.
10 A MOBILE FINTECH APP FOR THE NEWLY How Token and BNP Paribas collaborated to
DISCLOSURE FOR FINANCIAL SERVICES
from their customers giving both parties confidence the PFP also utilised the Ordo Bridge tool for automatic upload
overcome the challenges of introducing a new
BANKED right amount has been paid and received into the right
Regional Australia Bank / Banking to be able to transfer
of requests for payment to be distributed, saving even more
Profit for Purpose energy
payment method company, PFPAEnergy,
Financial
- in a pandemic. big step and account. Ordo uses Open
X directly and instantly from a customer’s bank 32
time and money and taking the pressure off their business,
eCebuana / Brankas forward for instant A2A payments?
wellbeing Open Banking FinTech, Ordo, make communities better Greater Than
money THE OPEN BANKING CONSUMER CHAMPION
staff and ultimately customers.
account to the businesses bank account, by the business
A hybrid online-offline approach helping toEnergy is proud to be a not-for-profit energy company, A cross-functional collaboration to design
Snoop / Hi
As the Ordo Mum!
service Said
is entirely real Dad
time, the call centre staff
PFP sending a pre-populated digital and
request for payment to
deliver financial inclusion during the pandemic. A to call it ‘Profit for Purpose’. And Ordo is on a deliver the firsttheir
consumer-friendly, interactive CDR receives a secure can talk their customers through payment whilst they’re on
or as they like customer. The customer immediately
Using open banking for hyper-personalised
marketplace of cost-efficient services encourages 18 IN THE NEWS...A2A PAYMENTS
mission to make paying and getting paid easy, meaning policy – empowering consumers and building trust
link or text message which, within a few taps from their
the phone,
insights.
giving both parties
Collaboration
lowering abandonment of on
trust and confidence,
a process
payment of user
to nearly testing
0, unlike other
more transactions in-app, ultimately helping
everyonetocan control their finances…it’s a partnership with – now being openly shared through Australia’s
smart phone, they can authorise payment, directly from
News highlights relating to A2A payments from and continuous
remote improvement
and delayed payment methods.to develop the
push more merchants and products onto thatthe
warm fuzzy feeling. CDR Support Portal
their own bank account.
recent months…. customer experience and build trust
platform We’re pleased to have been able to provide PFP with a
As the country went into Lockdown on 23 March 2020, Ordo With Ordo’s secure bank transfer solution, both payer and
solution that has helped them, their customers and their
launched the UK’s first Open Banking enabled end to end business know they’ve been paid in real time, and the
community. PFP’s Head Of Service Delivery, Natalie
encrypted and wholly digitised request-for-payment service. business receives its money in instantly cleared funds in the
Brundish, says that “Ordo has meant we have been able to
20 THE ROLE OF AISPS IN BRAZIL’S OPEN
At a time when businesses had to find ways to survive
26 RESPONSIBLEaccount
LENDING IN UNCERTAIN TIMES 34 PROFIT
of their choice automatically correctly referenced.
FOR PURPOSE ENERGYthem
COMPANY
12 USING CREDIT BUREAU AND OPEN BANKING
themselves, adjusting to their entire staff working from Both parties know where they are, there is no security like
foster customer relations, supporting when they need
home, furloughed employees andBANKING RISING AND
USING ENRICHED OPEN us by FINANCIAL WELLBEING FINTECH MAKE
cardBANKING
compliance INSIGHTS
giving them a solution that’s easy and allows them to
TO IMPROVE AFFORDABILITY DECISIONS AND colleagues who had PCI DSS needed as no account details are
Mobills
become teachers overnight, they were / aBelvo
offering lifeline of ever shared and no card is ever used.
Serve & Protect Credit Union / COMMUNITIES BETTER
stay on top of their finances. We have been able to reduce
OPTIMISE CUSTOMER EXPERIENCE WHEN
payment holidays while their customers financially strug-
the burden on our staff working from home, often for the
Credit Kudos
By PFP using Ordo in their call centres, it meant PFP staff PFP Energy
and save/costs
Ordo
APPLYING FOR CAR FINANCE gled. How leading LatAm aggregator Belvo helped
had a solution they could readily deploy for use in real time
first time, so we can pass these savings on to
our customers through our tariffs and services.”
personal financial management app Mobills
Experian With cash tight, in 2021 businesses need efficient and
overcome the technical and data challenges in this
Developing a risk
withinsight dashboard,
a customer highgiving
on the phone, level support to both the Collecting payments in a crisis with an ‘efficient
At a time when people and businesses are under stress from
effective, but polite, payment solutions. metrics and ‘traffic light’employee
call centre flaggingand
system forcustomer at this already
the PFP but polite’ request-for-payment service. Giving call
Using different data to serve different types of emerging open banking market all directions, ease, security and certainty are what people
We all appreciate our key workers on the front line, and underwriters – stressful
and then evolving
time. new
PFP saves toolsasto
money Ordo is only 20p max per centre staff access to a secure real-time payments
crave, and that is exactly what Ordo delivers.
customer depending on the risk they present.
there are also essential services like energy, the staff for highlight individuals’ up-to-date financial position
request for payment sent, enabling it to continue pursuing platform
Check Ordo out, book a short demo or try for free
Levels of instant / automated decisions which
and overall
are, for the foreseeable future, now scattered into during the pandemic
it’s purpose of ploughing funding back into the community.
acceptances are up, with 80% of customers who
their individual (hopefully warm!) homes. All this was with zero integration. All PFP needed to do was
share via open banking offered finance register at myordo.com, (which takes 3 minutes, we’ve
How do you support a nation’s energy supply and collecting
payment from people in a crisis, with staff that are also in timed it!), connect the account they want to be paid into,
the same boat, working at home amidst unprecedented and use
change? Keeping a wide-ranging collaboration simple materials to ensure a positive experience, encouraging
Learnings from the Project team Outcome
The answer is, to look at what your customer needs, how This is a complex project involving BNP Paribas, Token, future uptake.
The decision to adopt a Minimum Viable Product (MVP) Knab’s attractiv
merchants and the French banking ecosystem. • Transaction fees. SEPA Instant fees are a potential bar
your business deliver it, and finding a solution that fulfils approach to creating the initial PSD2 service meant that a lot of interest
• BNP Paribas hosted a series of working groups with and make this method of payment most attractive for
those requirments. Knab was able to deploy APIs quicky without having to integrations wi
selected merchant clients, to identify key pain points higher-value purchases. A key aim of the pilot is to
re-engineer a CBS that was due to be replaced.
– such as the abandonment of high-value baskets by While
investigate how to incentivise use of the
the new busin
paymen
Lockdown has meant: Customers want: PFP Energy wants:
Agile collaboration for
This
customers with insufficient also
card gave
credit Knab
available theto
– and added benefit
method.of a first-hand significant AIS
A Financial MOT for consumers where 80% are worried Support Lower costs experience
more closely define the proposed in running a live platform
solution. • Frenchwhile finalising
bank APIs. PSD2-readiness packages, Knab
across Europe is
about money and are cutting back the design of the eventual solution. This provided the border PIS tran
• Getting buy-in from key BNP Paribas internal stakeholders still patchy, and while data APIs have largely stabilised
PSD2 compliance -
Certainty Security
confidence and knowledge to develop a sophisticated With gambling
40% of direct debit users plan to cancel at least one was a key requirement for the success of this radically payments has taken longer. There have been extensive
Security Auto reconciliation and optimal product which would not have been the bad actors, Kna
direct debit, with 40% moving to expensive cards and new proposition. The project team undertook a substantial
discussions and testing with different banks.
case otherwise. account data a
4
Knab / Konsentus 5 practical
30% to hard to process bank transfers and cheques Convenience Liquidity internal marketing and engagement program across • Coronavirus. The pandemic not only caused
checking servic
IT, security and compliance, with high-level security issues, but created a new urgency to the project and
Over 50% of people who cancelled direct debits won’t
validation required even to reach a pilot stage. new need. For e-merchants offering click-and-collect
put them all back once we’re out of lockdown
INDEX OPEN FUTURE WORLD MARCH 2021
36 THE APP THAT HELPS CONSUMERS GREEN 44 COVID AFFORDABILITY INSIGHTS – USING 50 RETHINKING THE MORTGAGE PROCESS 58 USING OPEN BANKING TO PROVIDE
UP THEIR PORTFOLIOS USING THE POWER OF ECONOMIC FORECASTS, CREDIT BUREAU Target / DirectID PERSONALISED DEBT ADVICE TO CONSUMERS
OPEN FINANCE DATA AND OPEN BANKING TO HELP LENDERS The design principles and the reimagined
Experian / Creditfix
Sugi / Moneyhub UNDERSTAND THE IMPACT OF THE PANDEMIC process behind The Mortgage Hub, an end-to- Sharing credit and transaction data with debt
Making sustainable investing accessible for
ON CONSUMER’S FINANCIAL WELL-BEING end mortgage platform aiming to transform an advisers – providing faster, more accurate
experience that has remained largely unchanged
individual investors with portfolio carbon impact Experian information for better debt resolution. The time
for a hundred years taken to collect a customer’s financial information
assessments. Over 75% of UK retail investors want
New approaches to credit assessment in a fast- has fallen by 80%
their investments to have a positive impact – but
changing economic environment. Overlaying
few have been able to follow through
local economic forecasts with an individual’s bank 52 ENHANCED CREDIT DECISIONING IN MOTOR
transaction data enables a more personalised
response
FINANCE USING OPEN BANKING INSIGHTS 60 HELPING USERS TRULY ENGAGE IN
CarFinance 247 / Credit Kudos RETIREMENT PLANNING, WITH A SIMPLE,
40 CASH MANAGEMENT POWERED BY OPEN INTELLIGENT PENSIONS TOOL
BANKING Using open banking for an upgraded affordability
Mercer / Moneyhub
equensWorldline
46 EMPOWERING MORE RETAIL FINANCE and KYC process, with a streamlined customer
CUSTOMERS TO FIGHT CLIMATE CHANGE application journey – document collection time
reduced from 2 hours to 10 seconds – and the
Creating an app that looks beyond pensions,
Developing services to help SMEs overcome USING OPEN BANKING potential for further improvements
allowing individuals to manage all aspects of
liquidity challenges in partnership with alternative their personal finances in one place. Developing a
players – offering advanced but niche solutions, tred
dynamic – and continually tested – user experience
narrowed to address perfectly specific pain points to suit a broad range of users
The story behind pre-launch carbon-tracking
app tred. API and regulation challenges, and user 54 USE BAAS TO TAKE THE LEAD IN THE OB RACE
attitudes towards open banking
Banco Original / Sensedia 62 EMPOWERING CONSUMERS TO GET MONEY TO
42 FROM POS PROVIDER TO TECH INNOVATOR The story behind the Brazilian bank’s pioneering MARKET FASTER
Cielo / Sensedia strategy – now with over 50 fintech partnerships
48 IN THE NEWS...FINANCIAL INCLUSION and 2 year growth in account holders of over 500%
Nutmeg / TrueLayer
The open innovation strategy behind the News highlights relating to financial inclusion
transformation of Brazil’s leading electronic The advantages of fast, low cost open banking
from recent months….
payments provider, and the extraordinary breadth payments – and the importance of customer
of its solutions and partnerships experience in encouraging consumer acceptance
In addition to a full-service p
64 OPEN FUTURE WORLD DIRECTORYinsurance, mobil
platforms,
Featured Premium Organisations
Use BaaS
PicPay – the largest digital w
HE CHALLENGES WE’VE FACED Unit, managing 50+ partner
early stages of open banking integration posed
Open competition
to take the
eral hurdles, the biggest of which were:
Banco Original believes tha
customer experience will be
eciding whether to build our own open banking stimulating competition, te
lead in the
tegration, or go with a third party provider – and innovations, this sector is a
so, which one. Both options come with different
But only those fastest off th
rty open banking providers available. Finally we succeed. Judging by Banco
OB race
ecided to partner with Plaid, based on the range of the start of its digital journe
oviders they support. This ensures as many people had grown to 4 million, an i
possible can use tred, and will put us in good stead
r international expansion.
consistencies
6 between each bank's open banking 7
MONEYHUB / SCHRODERS OPEN FUTURE WORLD MARCH 2021
OPEN BANKING FOR GOOD The benefits to charities are endless:
How Open Banking • No more credit/debit card fees, or platform
fees (such as when donations are taken
through Just Giving or similar)
powered QR code payments with • No need to spend on Point Of Sale (POS)
PIN pads or contactless card readers
ABOUT MONEYHUB
Moneyhub is the leading Open Banking and Open
automated Gift Aid helped raise • Instant bank-to-bank payments appear in
the charity’s bank account straight away,
improving cash flow
Finance platform that uses the power of data, intelligence
and payments to enhance the lifetime financial wellness
of people, their communities and their businesses.
£12,000 at a virtual awards dinner • Charitable donations are boosted by 25%
Gift Aid – automatically
Moneyhub’s APIs and white label solutions power
businesses - both within and outside financial services.
to tackle homelessness Schroders UK wanted to harness the benefits of this
technology at their 2020 Platform Awards on the 15th
Find out more at www.moneyhubenterprise.com
or contact hello@moneyhub.com
December, to raise money for their chosen charity
Aims Providence Row, a charity that is tackling the root causes
2020 was a difficult year for charities. Not only have large donor’s consent. UK-based donors can pay directly from
of homelessness. Due to the ongoing pandemic, the awards requires building user trust to enable take-up to reach
fundraising events been postponed or cancelled, but social their bank account to the charity’s account without using
ceremony was to be held online – meaning simple, rapid its full potential – trust that needs to be built over time,
distancing and the demise of cash have also made charity a credit or debit card, and avoiding the complexity of setting
payments were vital to encourage donations. and with education to promote understanding.
canvassing harder. This has meant that charities have up payments in their online banking app.
Most attendees would attend the event on a computer – With the rapid pace of digital transformation that has
struggled to generate income at a time when help Now that fewer people are carrying cash, scanning a QR
so picking up a smartphone and scanning a code on screen occurred in response to the pandemic, the likelihood is that
is needed more than ever. code on the side of a collection bucket, a bus stop poster
represented an easy user journey, with no need to navigate this won’t take long – soon, QR code charity donations will
In September 2020, Bristol-based fintech Moneyhub or Big Issue Magazine means instant, cash-free transactions.
away from the event itself through another on-screen likely be a common sight at bus stops, petrol stations and
launched the world’s first Open Banking powered QR code The payment uses the same Faster Payments
window – potentially missing the action. For those who posters on the London Underground. With micro-donations
payments with Gift Aid, specifically to benefit charities. infrastructure as common bank transfers, meaning it’s fast
couldn’t scan the code, a clickable link was available, now cost effective, and the ability to provide individualised
The Open Banking payment technology is triggered when and safe, but with the huge added benefit of being a lot
allowing users to donate via desktop. financial experiences, it is possible to make donations much
the QR code is scanned with a smartphone, or a link clicked more cost efficient – and in Schroder’s case, free.
more personalised. We expect to see micro-donations where
on a website. This enables users to easily make a donation Moneyhub can reduce payment fees by 90% compared
Implementation people automatically donate based on personalised rules –
to a charity through Moneyhub’s Open Banking Payment to card transaction fees, meaning every pound donated
Moneyhub worked with Schroders on the project, creating for example, every time they buy a coffee, an equal donation
API, which can only be accessed and initiated with the can go a lot further.
a specific QR code for the Schroders UK Platform Awards could be made to their favourite charity.
website and publicised throughout the event. The payment Convenience is the biggest driver to positive behaviours –
journey is simple: the user opens the camera on their and finance is no different. Moneyhub’s technology means
smartphone and hovers over the QR code to initiate the payments can be made faster, more securely and at a lower
Open Banking payment journey. cost. With cost and unnecessary friction reduced, payments
become something that happens as part of an experience,
Outcome rather than as a distraction to it. This means it’s easier than
With match funding from Schroders, the total amount raised ever for people to save for their future or donate to charities
for Providence Row at the event was just under £12,000, with they care about. As we look forward, it really feels as if we’re
UK-based donors £3,000 as the biggest single donation. Moneyhub is leaving at the start of a payment revolution – and the future of
can pay directly from the service running for a year to allow Providence Row to payments starts here.
their bank account to the continue to benefit at future events.
Card-based donation platforms such as Go Fund Me, Just
charity’s account without Try it for yourself...
Giving or similar could see Providence Row losing as much
using a credit or debit as 9% of the total donation amount to fees (dependent
card, and avoiding the on platform), but with Moneyhub’s QR code payments, Scan the code to
Powered by
complexity of setting up Providence Row keeps 100% of the donation. donate to Providence
payments in their online Row. If you’re not able
Challenges and learnings to scan the code,
banking app. The results of the launch night were undeniable, but there visit:
are further developments which could be made. As seen
https://payments.
during the launch of contactless cards, new payment
moneyhub.co.uk/
methods can be met with trepidation from users, and early schroders
adoption of the QR code Open Banking payment technology
8 9
eCEBUANA / BRANKAS OPEN FUTURE WORLD MARCH 2021 10 11
EXPERIAN OPEN FUTURE WORLD MARCH 2021
USING CREDIT BUREAU AND INSTANT
DECISION
OPEN BANKING TO IMPROVE
9%
UP BY
AFFORDABILITY DECISIONS AND AUTOMATICALLY
OPTIMISE CUSTOMER EXPERIENCE ACCEPTED
5%
UP BY
WHEN APPLYING FOR CAR FINANCE
Aims Implementation Outcomes and learnings
This global luxury car manufacturer set itself the The organisation chose to deploy a combination of data Deploying the service enabled the manufacturer to stay ahead of many of its
task of improving its risk assessment process and from Experian including: competitors in analysis of a customer applying for vehicle finance. Access to
reducing the assessment time of a consumer’s bureau data along with new innovative sources of data such as Experian’s trended
• The latest version of its Delphi credit score to
credit worthiness by minimising manual intervention credit information and Open Banking has enabled them to optimise deployment and
understand a customer’s current credit status
in applications. It was essential not to reduce the streamline their credit decisions.
volume of customers accepted for credit, and to • Trended credit data to inform future credit The volume of customers that receive an instant decision on an application has
automate and improve the accuracy of its affordability performance of the individual increased by 9%, with a further 5% increase in the volume of customers who are
checks, whilst making the customer experience as
• Summarised current account data sourced from its automatically accepted for credit.
frictionless and non-intrusive as possible.
bureau to verify an individual’s income The innovative use of Open Banking has enabled the organisation to reduce the
They took the decision to look at a variety of existing time taken to source bank statement data to inform a credit decision from days to
• Automated categorised bank transaction data
and new sources of data to inform and improve its minutes. Data sharing can take place in the dealership, with initial approval for the
sourced – with consent – from a customer’s current
assessment of credit worthiness. This data included loan given in minutes ensuring the dealer can make a sale, and a customer given
account in real-time using Open Banking
the latest credit scores, trended credit information, approval to purchase the car. 80% consumers who agree to share their data via
summarised current account data and detailed bank The data was used for all new vehicle finance Open Banking are offered finance.
transaction data sourced from Open Banking. applications and deployed across the organisation in
Using 12-months of transaction data from Open Banking allows for a more detailed
its engagement with consumers. Registered office address:
An implicit part of this exercise was the principle that assessment of a consumer’s affordability. This ensures the manufacturer can apply
The Sir John Peace Building,
different data can be used to serve different types of Data was sourced in real-time using RESTful APIs and the highest possible regulatory standards to its affordability decisions to deliver Experian Way,NG2 Business Park,
customers depending on the risk they present to the secure URLs to automate credit decisions, whilst a better outcomes for the customer and the manufacturer. Nottingham,NG80 1ZZ
Tel: 0844 481 5638
organisation and value of the car being purchased. web-hosted analytics dashboard was provided to help
The experience of Open Banking has been used to enable additional identify www.experian.co.uk
This approached allowed the manufacturer to with interpretation of categorised bank statement data
verification checks to take place on consumers who want to buy cars online rather © Experian 2020. Experian Ltd
optimise is use of the data to ensure it maximised acquired via Open Banking. This was used to support is authorised and regulated by
than visit a dealership. This has proved particularly useful in the Covid crisis where the Financial Conduct Authority.
its performance whilst creating a more streamlined manual underwriting reviews where a more detailed
online sales have been used as an alternative channel to sell cars to customers Experian Ltd is registered in
experience for customers. analysis of an individual’s finances was required. England and Wales under company
who don’t want face-to-face contact with a dealer. registration number 653331.
The word “EXPERIAN” and the
graphical device are trade marks
For further information of Experian and/or its associated
companies and may be registered
To find out more about how Experian empowers consumers and businesses to in the EU, USA and other countries.
The graphical device is a registered
take control of their finances using open data, contact us on the Directory: Community design in the EU.
WWW.DIRECTORY.OPENFUTURE.WORLD/BUSINESS-DIRECTORY/1194/EXPERIAN All rights reserved.
12 13
REVOLUT / TRUELAYER OPEN FUTURE WORLD MARCH 2021
Partnering with Revolut to
transform digital finance
THE CHALLENGE
Most Revolut customers have a high street bank
account alongside their Revolut account. This made Next, Revolut began using TrueLayer’s Payments API to
it difficult for them to get a complete view of their enable customers to top up and access funds instantly, in
real- time, without having to enter card details or share
With TrueLayer, Revolut enables finances without having to log into multiple websites
and apps. Another problem for Revolut and its their bank credentials. With the Payments API, funds are
customers to manage all of their customers was the cost and complexity associated with transferred directly between bank accounts rather than
finances from a single app. adding funds to a Revolut account. Topping up using through a separate payment network, which minimises
cost and processing times. Payment authorisation takes
traditional methods such as manual bank transfers
Revolut’s ambition is to build a truly global bank that was time-consuming for customers, requiring them place directly with the bank, making the entire process
enables people to manage all of their finances seamlessly to log into their external bank’s website or app to set extremely secure.
from one place. To achieve this, they needed an easy way up and initiate a payment. While adding funds using
to connect their app to external bank accounts, and a a credit or debit card was also a disjointed experience THE RESULTS
payment method that eliminated high transaction fees. for customers and came with a high-risk of fraud and
This led them to TrueLayer. additional transaction fees for Revolut. Today, Revolut uses TrueLayer to enable customers to
instantly link external bank accounts to the app, and to
facilitate top ups and transfers between accounts. This has
The Revolut team were looking for a way to fix
2x Increase in weekly resulted in numerous benefits for Revolut, including:
these broken processes which ultimately resulted in
active users unnecessary costs and mismatched financial products
for customers. They also wanted to contextually - 2x increase in weekly active users
introduce customers to the new financial products that - £600M+ in payments processed with significant cost
Revolut had to offer in a way that was tailored to the savings
£600M+ In payments
processed with
needs of each customer. Using TrueLayer, Revolut were
able to instantly leverage open banking to do this.
When deciding which provider to work with on its open
significant cost banking launch, Revolut chose to work with TrueLayer
savings THE SOLUTION because of its scalability and superior developer experience.
The process to get up and running and start experimenting
First, the team began using TrueLayer’s Data API, with TrueLayer was quick and painless and the Revolut
enabling their customers to connect their external team found the TrueLayer platform to be robust and
bank accounts to Revolut in a few clicks. This developer-friendly.
gave customers greater visibility and control over
spending and budgeting. This also meant Revolut
could recommend new products to help customers
save on things like loans, credit cards, overdrafts,
and international transfers. Delivering a seamless
experience to Revolut’s UK retail and business
customers was hugely important. The team wanted
customers to get instant value from the wide variety of
new features they were building.
14 15
BNP PARIBAS / TOKEN OPEN FUTURE WORLD MARCH 2021
Keeping a wide-ranging collaboration simple materials to ensure a positive experience, encouraging
This is a complex project involving BNP Paribas, Token, future uptake.
merchants and the French banking ecosystem. • Transaction fees. SEPA Instant fees are a potential barrier
• BNP Paribas hosted a series of working groups with and make this method of payment most attractive for
selected merchant clients, to identify key pain points higher-value purchases. A key aim of the pilot is to
– such as the abandonment of high-value baskets by investigate how to incentivise use of the new payment
customers with insufficient card credit available – and to method.
more closely define the proposed solution. • French bank APIs. PSD2-readiness across Europe is
• Getting buy-in from key BNP Paribas internal stakeholders still patchy, and while data APIs have largely stabilised,
was a key requirement for the success of this radically payments has taken longer. There have been extensive
new proposition. The project team undertook a substantial discussions and testing with different banks.
internal marketing and engagement program across • Coronavirus. The pandemic not only caused practical
IT, security and compliance, with high-level security issues, but created a new urgency to the project and a
validation required even to reach a pilot stage. new need. For e-merchants offering click-and-collect, a
• Token’s white-label solution for PSP resellers was further safer, dematerialised alternative to cheques has become
extended, simplifying configuration and roll-out for a priority.
merchants whilst allowing BNP Paribas to fully manage,
onboard and support their clients. A Big Bang for Instant A2A Payments?
• Token’s platform enabled a fully-branded BNP Paribas A successful pilot will be an exciting realisation of the EBA’s
merchant portal. By presenting the new service as just vision of combining two major initiatives, using PSD2 APIs
Instant Account-to-Account another BNP Paribas service – keeping Token’s role behind to drive traffic to the SEPA instant payment rails. It will have
the scenes – the potential for merchant/consumer created a new payment method for French e-commerce
merchants, of particular value to merchants selling higher-value
(A2A) payments for French
confusion was minimised.
• The whole project also relies on making sure that other goods and services.
banks are ready to fulfil their side of the payment. In open
retailers — BNP Paribas / Token banking terms, payments are more demanding than data The merchants involved in the project working group have
suggested an aim of migrating between 2 to 5% of all
– reliable API performance is essential.
transactions to the new payment method – a significant share
Payments are a continuing and complex challenge for The first merchants went live in February 2021 and showcase of a French e-commerce market worth well over €100 billion.*
the flexibility of the solution, from instore payments with a pilot BNP Paribas, one of the world’s largest banks, has access to a
ecommerce merchants. BNP Paribas saw the opportunity
across 200 stores to traditional ecommerce payments for huge range of merchants, and the potential to integrate this
for a new solution, combining PSD2 APIs with SEPA Instant online merchants. This will help to provide feedback from every solution across different platforms. Against the background of
payments to allow e-commerce merchants to accept instant region in the country, and different demographics helping BNP the wider open banking and open finance movement, we are
moving towards a big bang in payments.
A2A payments. The bank looked to Token – with their focus Paribas learn more about customer reactions and the potential
for new services.
on payments, connections to almost 100 French banks
representing about 80% of payments’ accounts in France, Innovating in a Pandemic
understanding of the retail payment channel and technology While getting internal buy-in and security validation were
demanding, these are challenges that are foundational for
stack – as their partner.
almost any bank/fintech collaboration. (It helped that Token is
ISO 27001 and PCI-DSS accredited.)
There were several more specific challenges: * https://ecommercenews.eu/ecommerce-in-france-will-
reach-115-2-billion-euros-in-2020/
• Novelty. Both merchants and consumers will need to
understand how to take advantage of this new payment
method, the first to combine PSD2 and SEPA into a single Find out more about BNP Paribas payment
offering in Europe. BNP Paribas is developing support solutions and Token’s open banking platform.
https://token.io/
16 17
In the news
A2A GO A shift is
Open Future World’s highly acclaimed daily edit of the most interesting
global news headlines provides a rich archive of information, charting progress.
coming
Here are some highlights relating to A2A payments from recent months….
The problem with payments, Payment initiation services: As pioneers in open banking, Token set out
11:FS' Sarah Kocianski [A2A Open banking's big bang in
payments and how to get 2021? Yolt's Leon Muis [certainly to help banks clear the decks of regulatory
there]... feels like a lot of momentum
complexity in 2016.
building for A2A/PIS]...
Today, Token is driving the shift from card
to bank payments with best-in-class,
Pan-European bank connectivity, data and
Open finance platform Subscriptions are shaping the
Ecospend wins UK’s HMRC payments landscape as we compliance capabilities.
open banking contract for A2A know it, Nuapay's Nick Raper
payments… [A2A for Variable Recurring
Payments].. Tomorrow? Subscription payments,
merchant-initiated payments, automated
sweeps, and request-to-pay.
A2A payments provider Mastercard adds A2A And that’s just the beginning.
VibePay launches SME functionality for US business
service… payments…
Follow Token on LinkedIn as we drive the shift
Survey results reveal UK Payment methods: what's
consumer payment card new and what's next, The
concerns, Nuapay [opportunity Paypers' Anda Kania [overview
for open banking A2A of developments including A2A
payments]... payments via open banking;
convenience, cost and reach
are key]...
formerly known as
Try searching the openfuture.world hub for country, company or topic insights & links to the full articles...
18 19MOBILLS / BELVO OPEN FUTURE WORLD MARCH 2021
Use case
One example of how fintechs can benefit from Open Banking is the work that has been developed at Mobills, a money
manager and budget planner app that allows users to create a custom monthly budget and, from there, be in full
control of their finances. Through the application, users can manage their money, track all their credit card spending, set
The role of AISPs in Brazil’s up budgets and plan their financial life, all in one place.
For a personal financial management application to meet their purpose at least one thing is essential: getting categorized
Open Banking rising
transaction data from customers. It was easy for customers to categorize their manually-registered transactions, however,
for the whole process to be automated, a solution that not only collected data from the bank but also offered a reliable
description of each transaction was required.
How Belvo is helping build the next generation of financial services
through technology and Open Banking
The opportunity
Open banking is expected to set the right ground rules for easier data access/sharing in Brazil. Tight deadlines have been
Belvo helps us make the data collection process faster
established by the Central Bank for the largest financial institutions in the country (S1 and S2, the TOP5 banks in Brazil),
to adapt to the new model. There is a lake of opportunities for Open Banking, but the challenge relies on the means, or
and to pay more attention to analyzing this data to
the technology, to reach them. bring more insights to our customers. We have more
categorized transactions that can be shared with the
The challenges customer the moment our platform has access to it
Few are those talking about the technical challenges that banks are facing in the country. Not just at an API level (still
under construction) but also at a deeper level within their core and data bases. Requests to the database or data lakes will
grow exponentially as users start enabling access to a new myriad of fintechs. In today’s scenario, where users typically Rodrigo Matihara, CTO at Mobills
connect to their banks’ app once a day, it might represent 15 to 20 daily connections by all these new fintechs and apps
utilizing users’ banking data to offer new services under Open Banking.
And talking about data, this is the second challenge and one of the most difficult. Data quality from banks tends
And even if Mobills were to integrate with each bank in Brazil, which was already proved to be challenging due to the rigid
to be very poor when it refers to transaction descriptions. Banks typically rely on internal codes in order to manage
structure the biggest and most traditional banks currently have in the country, they would need a way to have all this
data flows properly from system to system and ultimately to bring information to their digital channels (internet and
information ready to be accessed by the consumer, in a standardized way.
mobile banking). There is also no standardization between financial products available from bank to bank. So all that in
conjunction, becomes a bigger challenge to whoever manages to get their hands on this “newly” available banking data.
“Open Banking has allowed us to bring all information in one single
statement to our customers. The automation makes it even more
The solution convenient and expands our customer range,”
adds Rodrigo Matihara.
With the current “pre-open banking” scenario in Brazil, alternative data access technologies are already available. The
challenges posed by this scenario are basically the magic sauce of AISPs (Account Information Service Providers) also
Once the integration was established, Mobills started noticing an increase in the number of users that did not want to
referred to as “Aggregators”. Belvo, an API platform focused on the Latin American market, is offering the technology
manually insert every detail of their spending and felt more comfortable with having all the information automatically
fintechs need to access all the benefits from Open Banking.
available to them.
Understanding bank’s products, labelling incoming/outgoing transactions, simplifying merchant names, categorizing,
There is an interesting perspective for Open Banking in Brazil as it could lead to an increased financial inclusion and
detecting recurrent transactions, incomes, is just some of the initial and complex work that needs to be done on top
education, helping Brazilian consumers have more control over their money and opening room to fintech companies
of these connections so players in the fintech industry can concentrate on providing financial products and services
to innovate and build better services for a digital savvy population.
to millions of users in Brazil in different segments, from credit and lendings to personal financial management.
20 21KNAB / KONSENTUS OPEN FUTURE WORLD MARCH 2021
Learnings from the Project team Outcome
The decision to adopt a Minimum Viable Product (MVP) Knab’s attractive customer demographic has generated
approach to creating the initial PSD2 service meant that a lot of interest from many TPPs. To date there are active
Knab was able to deploy APIs quicky without having to integrations with over 30 TPPs from across the EEA.
re-engineer a CBS that was due to be replaced.
While the business accounts of the self-employed drive
Agile collaboration for
This also gave Knab the added benefit of a first-hand significant AIS transactions to support accounting
experience in running a live platform while finalising packages, Knab is also seeing a large number of cross-
the design of the eventual solution. This provided the border PIS transitions to the big gaming companies.
PSD2 compliance - confidence and knowledge to develop a sophisticated
and optimal product which would not have been the
case otherwise.
With gambling being a potential target for fraud and
bad actors, Knab’s customers can rest assured that their
account data and funds are being protected by the TPP
Knab / Konsentus checking services Konsentus Verify provides.
Summary
When they approached Konsentus, they were also The number of connected TPPs and the transaction flows that are already being seen through the platform across
Knab discusses how Konsentus Verify allowed conscious that their PSD2 project was late off the starting multiple markets has justified Knab’s two-phased approach. Their customers are taking advantage of the latest
them to improve the level of security needed blocks and so were looking for a trusted, secure, quick products and solutions from across the EEA to better manage their financial data and information showing open
to protect customers from the risk of Open and effective way to validate TPPs (third party providers) banking at its best.
Banking fraud as part of their overall Open Banking solution.
We take pride knowing that Konsentus Verify was key to both this early delivery and the migration to the new
Knab, a Dutch subsidiary of AEGON The Integration Project architecture. Knab’s customers can now have confidence and trust when transacting in the open banking ecosystem,
Netherlands, was initially set up in 2012 as a knowing that their data and funds are being protected from the risk of fraud.
The team at Knab chose to build their PSD2 service in a
consumer bank offering an affordable online
phased approach. They initially built an interim solution
checking account with smart tools to save
within the constraints of their existing Core Banking
money backed up by excellent customer
Solution (CBS) with the pragmatic approach to quickly
service.
getting a service into market.
Since 2014, the focus has been on business
This initial phase did not have an optimal customer
banking, servicing the needs of the self-
journey or registration process, although it did allow their
employed. And their ‘Knab Zakelijk’
customers to use the services of TPPs and was seen as
has consistently been voted the most
a viable short-term solution whilst the full service was
advantageous business account by MoneyView.
being developed.
The planned refresh of the CBS to provide a more open
architecture, is readily supported by the ‘plug and play’
Background and challenges
Konsentus Verify solution and will allow them to focus
With a customer base actively engaged with different
their efforts on driving significant improvements to the
third-party providers from across Europe, offering
customer experience and other value add features.
innovative accounting and book-keeping solutions, Knab
was aware of the security provisions that needed to be Implementing the Konsentus Verify API to perform TPP
put in place to provide a trusted and safe ecosystem, identity and regulatory checking services saved the team
protecting their customers from the risk of open banking considerable time, technical know-how, legal knowledge
fraud. and of course on-going support and maintenance, whilst
providing a future-proofed solution for a key business “Knowing that we have Konsentus actively
As a specialist online bank, Knab needed to provide its
line. supporting us to provide this vital aspect of
Open Banking service without the support of a large
development project team or investment in additional The service is now fully operational with transactions security in our gatekeeping gives us peace of
infrastructure. In addition, their existing Core Banking being checked by the Konsentus Verify platform from mind. Konsentus Verify is reliable, consistent,
System (CBS) presented challenges and building their across the EEA. The Knab account holders can be and always available – keeping our customers
PSD2 APIs was far from straight forward. They therefore confident that no matter which TPP services are being
safe whilst providing an airtight story for our Further information:
needed to find a solution that would meet their security used, or authority the TPP is regulated by – be that Isabel
requirements whilst being easy to implement. in Belgium or Neo Finance in Lithuania - their data and regulators. What more do you want!?” Visit www.konsentus.com or
funds are being protected.
Ronald van der Horst Product Owner, Knab
contact us at info@konsentus.com
22 23REGIONAL AUSTRALIA BANK / GREATER THAN X OPEN FUTURE WORLD MARCH 2021
Helping everyday PROJECT AIMS
1. To help Australian consumers better understand the
KEY OUTCOMES
Together, Regional Australia Bank and Greater Than
Australian’s understand benefits of data sharing within the Consumer Data
Right Framework
X delivered the first interactive Consumer Data Right
Policy, contributing to Regional Australian Banks' CDR
the value of the Consumer
2. To meet Regional Australia Banks’ regulatory accreditation. Thanks to the openness of Regional Australia
requirements for a Consumer Data Right Policy, and Bank and its leaders, we shared the entire approach and all
related assets openly so that it might be simpler and more
3. To demonstrate a differentiated approach to
Data Right: A better
cost effective for those that follow:
disclosure that could help set a new, consumer-
https://cdr-support.zendesk.com/hc/en-us/community/
friendly standard for the entire Financial Services
posts/900001418303-How-to-create-an-engaging-and-
approach to disclosure
ecosystem.
compliant-CDR-Policy
To date, with hundreds of people actively interacting with
THE IMPLEMENTATION PROCESS
for Financial Services
and engaging with the entire experience, the policy has
received an average rating of 4.9 (out of 5). This is a huge
Instead of leaving the policy ‘design’ to risk and early win, particularly given the negative relationship most
governance - as is commonplace in most organisations consumers have with disclosures of this type today.
- Regional Australia Bank brought together a diverse
team that consisted of lawyers, risk and governance
professionals, copywriters, designers and experts in FOR MORE INFORMATION
evidence-based Better Disclosure from the Greater Than
X team. This enabled cross functional collaboration and Nathan Kinch (CEO of Greater Than X) and Rob Hale (Chief
specific practices like pairing or tripling, throughout Digital Officer of Regional Australia Bank) presented this
the duration of the program. This gave us a brilliant exact case study in detail at Web Directions, a global
foundation from which to do good work. conference for product professionals. You can watch that
presentation here: https://vimeo.com/485365972/754e474cc0
The process started with Better Disclosure workshops.
This was supported by basic policy drafting and in
intensive rules mapping exercise. This supported
For more information about Greater
ticking the boxes with more innovative and modern
approaches. The entire process, although operating Than X, here is their website
within the very tangible constraints of the Consumer www.greaterthanexperience.design/
Data Right Rules, was guided by very clear and distinct
consumer outcomes focused metrics.
And to see the policy in action,
The output of the experience we all engaged in
uses information design patterns, like time to read
click here:
indicators, layered information and illustrations, to help www.regionalaustraliabank.com.au/
bring the policy experience to life and enhance active
our-cdr-policy/our-cdr-policy
engagement and comprehension.
Although there were many hurdles - like overcoming
The problem is well understood. Using The Better Disclosure Toolkit, the status quo bias, challenges of interpretation and
meaning, specific budget and resource constraints that
Traditional policies or disclosures a combination of approaches limited implementation and forced team members to
are long, complex and often hidden informed by Human Centred Design, upskill in order to get the job done - the teams from
away. This leads consumers to the behavioural sciences and Greater Than X and Regional Australia Bank delivered
this market leading experience ahead of time. This gave
feel powerless and apathetic. traditional legal practice, Greater Rob, Regional Australia Banks’ Chief Digital Officer, the
This results in an overwhelming Than X and Regional Australia Bank opportunity to openly share what was being done and
what everyone was learning with other organisations
majority of people bypassing grappling with the same issues. This helped establish a
these disclosures altogether. But it more open dialogue about what was possible and how
doesn’t have to be this way. It can Data Right policy. The best part? The best to deliver consumer outcome focused policies and
disclosures. Although it’s too early to say, we hope this
be better. people actively interacting with it begins setting a new standard for disclosures down under.
seem to love it!
24 25SERVE & PROTECT CREDIT UNION / CREDIT KUDOS OPEN FUTURE WORLD MARCH 2021 26 27
FREETRADE / TRUELAYER OPEN FUTURE WORLD MARCH 2021
Empowering retail THE CHALLENGE
Before partnering with TrueLayer, Freetrade and its
The result was a simplified in-app deposit flow for users,
with cost-effective processing and less operational burden
for Freetrade. Its customers can now make payments
investors with instant customers were finding existing payment methods
painful.
quickly, and for Freetrade, the payment parameters are
all present and ready to be automatically allocated. This
bank payments –
Manual bank transfers were popular but they required simple, low-friction way of depositing is scalable and
users to manually switch between online banking fundamental to the business’ next phase of growth.
screens and the app, copying and pasting details. This
Freetrade / TrueLayer was a clunky experience that often led to drop-off, or
churn as customers made mistakes and looked for an
easier way to make deposits.
OUTCOMES
Implementing the payments API enabled Freetrade to
The Freetrade team were also experiencing issues reduce manual bank transfers from 90% of total deposits to
processing payments. If a deposit had been made just 25% and cards to 5%. In turn, this allowed Freetrade to
without the right information, it would be difficult reduce their total unallocated deposits across all payment
to reconcile. At one point as much as 10% of deposits methods from 10% to just 3% and make significant savings.
were unallocated, meaning Freetrade had to send Just a few months after launch, Freetrade saw a 60%
back £300,000 each month to customers for deposits increase in the total value of open banking deposits, while
they were unable to match. This caused operational the total number of open banking transactions went up
strain, which grew with the business, as more and more by 35%, and the average transaction size increased by 18%.
deposits ended up in the unallocated pool. This validated the payments API as a real growth driver for
Freetrade consistently ranks as the The alternative – card payments – was simpler for Freetrade: not only are more people choosing it, but repeat
first or second largest retail broker customers, but with card networks designed for customers are happy with the payment flow, meaning
purchases (rather than money transfers), the cost they’re ready to deposit more money.
on the London Stock Exchange (LSE) was too high for this to be Freetrade’s primary More than two thirds of all deposits now go through
according to volume of daily orders, payment method in the long term, especially for TrueLayer’s Payments API. TrueLayer was able to support
having grown its customer base high value transactions. The team needed to find a and enable Freetrade through unprecedented growth –
with more to come.
scalable solution that would deliver a great customer
seven fold to 350,000 in 2020. The experience.
GameStop media sensation this year To find out more about payments
led to another surge in customers, IMPLEMENTATION with TruLayer, visit:
with daily sign-ups increasing 10x Freetrade chose to implement TrueLayer’s Payments truelayer.com
at the end of January. With such API. The key to this implementation was getting a
strong growth, Freetrade needed scalable solution up quickly so TrueLayer and Freetrade
had to work closely together.
a payment solution that could TrueLayer’s Client Success and Integration teams
scale with them, reducing their
operational burden and cost,
worked with Freetrade to help them build, test and go
live successfully with open banking payments, and to
keep track of success measures like payment method
70% reduction in total
unallocated deposits
while keeping new customers
60% increase in value
adoption, conversion and average transaction value.
happy with a seamless account In August 2020, Freetrade rolled out open banking
of open banking
funding experience. payments via TrueLayer to Android and then, shortly
afterwards, to iOS users. It’s now available to all new deposits
and existing customers.
18% increase in average
The TrueLayer team worked with Freetrade to give
recommendations on how to optimise the user flow for
conversion and how to position and communicate the transaction size
new payment method with customers. To encourage
2/3 of all deposits go
adoption, Freetrade has also implemented measures
including making this payment method top of the list
in the user flow, adding a ‘recommended’ label and
through TrueLayer’s
capping deposits on cards and ApplePay. Payments API
28 29You can also read
