NEWS
Akoya and Axway help financial institutions tap into the power of open APIs
Akoya had announced its partnership with Axway to transform the way customer information is shared with third-party applications . Both companies have standardised their APIs to the Financial Data Exchange ( FDX ) standard , which allows for customer data sharing in a secure and transparent way .
Akoya allows businesses to manage their finances within a unified interface that allows for budgeting , payments , tax planning and investment management .
“ Akoya is excited to work with Axway to streamline the integration between financial institutions and FinTech applications ,” said Anil Mahalaha , Chief Evangelist at Akoya . “ We ’ re focused on giving consumers more visibility into where and how its financial data is used and we ’ re dedicated to 100 % of those data requests going through APIs .”
Amplify Open Banking – built on Axway ’ s industry-leading Amplify Platform – leverages universal API management and modern marketplace capabilities to publish and facilitate third-party adoption of standardised APIs that drive the open finance economy .
“ The Axway-Akoya partnership removes the friction of accessing critical customer data that drives business ,” added Laurent Van Huffel , Axway VP of Financial Services . “ Axway enables financial institutions to stay in control of their destiny by providing them with an FDX-ready platform , including consent management and integration with their core banking applications , to become an open banking provider , while Akoya securely consumes the FDX APIs published in the Amplify digital portal to present the data to the fintech aggregator community .”
Women receive 50 % less than males in average pension fund
necessary evidence to help develop government policy on the pensions scheme .
Research has revealed a 49 % difference between the male and female average pension in the UK , according to the latest review of the Gender Pension Report by the Government Actuary ’ s Department ( GAD ). GAD analysis of the GPS gender pension gap saw that on average , the male pension equated to £ 8,466 while the average female ’ s equated to £ 4,285 .
A 46 % difference was also seen between actively contributing males and females in legacy accrued final salary benefits and a 35 % difference between male and female actively contributing members post-2014 accrued career average benefits . Such details have been recorded and reviewed to provide the
“ Pensions are an important aspect of people ’ s lives due to the sheer amount of time people spend working towards them , so it is vital that there are equal opportunities to earn a fair pension fund for life after work , rather than face a significant gender disparity ,” said Fraser Stewart , Chief Commercial Officer , Lyfeguard .
“ More education and effort should be put into pensions , in general , in order to maximise the benefits of these schemes . Over half of Brits ( 52 %) struggle with managing important documents such as pensions , according to Lyfeguard ’ s research and this can have a knock-on impact on well-being , on top of facing stark disparities in gender pension pay .”
The report has also brought more attention to differences in pay , working patterns as well as rates of individuals opting out of LGPS membership . www . intelligentfin . tech
7