A Global Fintech Solution for Tomorrow’s Banking

Over the next few years Snowy Pay will be pursuing more ambitious goals as open banking spreads beyond Europe

Canada

The Department of Finance Canada launches Advisory Committee on open banking

United States

  • OCC explores a “fintech charter”
  • OCC issues conditional banking charter

Mexico

Mexico passes “Fintech Law” and requires banks to establish open APls

Latin America

  • Brazil’s central bank issues new banking rules
  • Chile regulations follow Brazil’s lead
  • Peru drafts first Fintech Bill
  • Argentina tries to follow Peru’s lead

Europe

  • In Jan’19 the FCA reported 80 TPPs registered
  • As of Sept’18 there were 17.5M monthly open API calls
  • Both the EU’s revised payment services directive (PSD2) and UK’s Open Banking Framework went live

Africa

  • Nigeria sets up the Open Technology Foundation, a not-for-profit industry group developing open API standards
  • South Africa Reverse Bank (SARB) started researching the establishment of a regulatory sandbox to foster collaboration with emerging tech startups

Asia

  • The Hong Kong Monetary Authority released the Open API Framework
  • HKMA starts issuing virtual bank guidance and licenses
  • The Monetary Authority of Singapore’s (MAS) API Playbook is released

Australia & New Zealand

  • Australia Securities and Investment commission (ASIC) openly endorses open banking guidelines
  • Open banking put on hold in Jan’18 by the federal government
  • Canada

    The Department of Finance Canada launches Advisory Committee on open banking

  • United States

    • OCC explores a “fintech charter”
    • OCC issues conditional banking charter
  • Mexico

    Mexico passes “Fintech Law” and requires banks to establish open APls

  • Latin America

    • Brazil’s central bank issues new banking rules
    • Chile regulations follow Brazil’s lead
    • Peru drafts first Fintech Bill
    • Argentina tries to follow Peru’s lead
  • Europe

    • In Jan’19 the FCA reported 80 TPPs registered
    • As of Sept’18 there were 17.5M monthly open API calls
    • Both the EU’s revised payment services directive (PSD2) and UK’s Open Banking Framework went live
  • Africa

    • Nigeria sets up the Open Technology Foundation, a not-for-profit industry group developing open API standards
    • South Africa Reverse Bank (SARB) started researching the establishment of a regulatory sandbox to foster collaboration with emerging tech startups
  • Asia

    • The Hong Kong Monetary Authority released the Open API Framework
    • HKMA starts issuing virtual bank guidance and licenses
    • The Monetary Authority of Singapore’s (MAS) API Playbook is released
  • Australia & New Zealand

    • Australia Securities and Investment commission (ASIC) openly endorses open banking guidelines
    • Open banking put on hold in Jan’18 by the federal government

Have Questions?

  • Contact
  • Snowy Pay Limited
  • Kemp House 160 City Road
  • London EC1V 2NX United Kingdom

Snowy Pay Limited Swift BIC Code SNPAGB22
UK Data Protection Registration Number ZA563878 (ICO)
Snowy Pay is registered under the Electronic Money Directives by the Financial Conduct Authority, reference number 902722.


Snow Pay Limited is registered with the UK National Crime Agency for AML and CFT reporting