ClearBank, a cloud-based clearing bank, has announced multi-currency bank accounts via API. ClearBank expects to offer over 30 multi-currency bank accounts in the fourth quarter of 2020. This capability will allow users to seamlessly move funds between accounts with real-time FOREX pricing.
Payza introduced a new Bitcoin SendMoney API that enables merchants to send payment to recipients inside and outside of the Payza network. Because Bitcoin is a true peer-to-peer digital currency, Payza's latest API is able to use the currency to send payments directly to the Bitcoin address.
The ripple effects of regulation such as the EU's PSD2 and Open Banking initiatives in the UK and APAC, designed to stimulate increased competition in banking, are being felt worldwide. But what do these changes mean in practice for developers seeking to build fintech apps to work with bank APIs?