Ubi Banca focuses on open banking and signs an agreement with Fabrick, a company active in promoting new banking models based precisely on open banking, to accelerate innovation and data sharing.
Through this partnership, the Bergamo bank intends to exploit the technological innovations present on the market to respond to the needs of customers who, thanks to the agreement between Ubi and Fabrick, will have account aggregation and payment initialization solutions.
The first feature will allow customers to group "within a single interface all the movements of the different bank accounts of a customer who is provided with real multi-bank home banking", explains Ubi in a note. The payment initialization service, on the other hand, will allow the bank, as a third party, to initiate the initialization of payments from accounts that the customer has with third party institutions.
Ubi underlines how, six months after the European directive on payment services was introduced, there are around 200 direct customers of Fabrick and over 23 end consumers who use the services created on the platform.
It should be emphasized that the bank has also chosen to join the Fintech District as a Corporate Member to carry out open innovation projects with the startups of the community which are currently over 140.
“The partnership with Fabrick represents further evidence of the UBI Group maintaining a direct grip on innovation in banking services,” he says Marco Cecchella, general manager of UBISS and chief information officer of Ubi Banca. “In recent years we have witnessed the entry of new players who have also influenced the strategies of the more traditional players in the world of credit: this is a development from which customers are undoubtedly benefiting and we believe that, in a logic of open innovation, a collaboration between traditional banks and the fintech ecosystem is necessary”.
