Fintech Insider Podcast by 11:FS

999. News: Plaid pays JP Morgan, HALA's record breaking raise, and Thunes speeds up Saudi payments

Sep 22, 2025
Ahmad Yaacoub, VP MENA at Thunes, shares exciting details about their launch of real-time payments in Saudi Arabia, aiming to revolutionize cross-border transactions. Mei Lim, CFO at Anthemis, discusses the establishment of CommonAI, focusing on bolstering AI innovation in Europe. Dave Morris, CEO of FoundryOS, offers insights into fintech infrastructure developments. The guests also tackle the implications of Plaid paying JP Morgan for data access and break down HALA's $157M funding round aimed at empowering SMEs.
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INSIGHT

Bank-Imposed Data Costs Threaten Open Banking

  • JP Morgan began charging data aggregators for API access, arguing many requests are unnecessary and costly.
  • Panelists warned this risks creating data moats that harm competition and startups in the US.
INSIGHT

Low Customer-Initiated Share Drives Charges

  • Only a small fraction of JP Morgan's reported API calls were customer-initiated, prompting the bank to charge aggregators.
  • Guests agreed fees may be passed down to fintechs and customers, and noted regulatory gaps in the US compared to the UK.
INSIGHT

Real-Time Saudi Payouts For Diverse Use Cases

  • Thunes launched instant SAR payouts to Saudi bank accounts and wallets to support Vision 2030.
  • The move targets B2B flows, gig workers, content creators and high-volume seasonal payments like Hajj/Umrah.
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