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

Held on Tuesday, June 18


Speakers

  • Alessio Botta (McKinsey)

  • Markos Zachariadis (Warwick Business School)

  • Edward Robinson (Bloomberg)

  • Shefali Roy (TrueLayer)


Agenda

 

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 alex@csfi.org or by calling the Centre on 0207 621 1056. As usual, there will be wine and sandwiches.

Many thanks,

Andrew Hilton

Director

CSFI