Open Banking: Where do we stand? And where is it going?

Held on Tuesday, June 18


  • Alessio Botta (McKinsey)

  • Markos Zachariadis (Warwick Business School)

  • Edward Robinson (Bloomberg)

  • Shefali Roy (TrueLayer)



I have heard for the last three years (or more) that Open Banking could/will/must subvert the long-established conventional banking model, that it will undermine the only competitive advantage that mainstream banks still have (proprietary access to their clients’ data) and that it will open up a new world in which financial services are tailored to the needs/wants of the individual customer. I have also heard that the issues around legal liability are so great (and essentially unsolvable) that it will never happen – that it is a good idea that will come to nought.

So far, I guess, the jury is still out. There are various initiatives out there – but no blockbuster application, and nothing that has yet managed to get the juices flowing.

Still, the Open Banking/API issue is well worth a look – hence this panel, which includes:

  • Alessio Botta, partner in McKinsey Digital, leading McKinsey’s European Payments activities;

  • Markos Zachariadis, an associate professor at Warwick Business School and a fintech research fellow at the Cambridge Centre for Digital Innovation;

  • Edward Robinson, a senior writer at Bloomberg News in London covering finance, wealth, fintech, crypto and cyber, whose recent pieces have expressed some scepticism about the take-up of open banking in the UK; and

  • Shefali Roy, coo and cco at TrueLayer, which actually builds financial APIs to connect and aggregate bank data, to verify accounts and to access transactions.

I don’t know how this one will pan out. I am a bit sceptical, but am willing to be convinced – and my guess is that the panel will be pretty evangelical on Open Banking. Either way, there is a lot to be learned. If you or a colleague would like to join us, please let us know by emailing or by calling the Centre on 0207 621 1056. As usual, there will be wine and sandwiches.

Many thanks,

Andrew Hilton