Archive for April 2019

Former MBNA/Bank of America product development director Brendan Jones is now a part of the leadership team at Konsentus. He looks at the challenges that organisations are facing from PSD2 Open Banking.   Q: How has your career to date informed your opinions on the changing payments landscape? I have worked in the payments arena…

The payments arena is fast becoming one of the most competitive sub-sectors of the banking industry, full of companies with vastly different backgrounds. We asked four industry experts who they thought would come out on top.   “What type of organisation will dominate the payments sector in 10 years?”   Marko Sjoblom Founder & CEO,…

As has been widely discussed elsewhere, one of the primary reasons for the introduction of Open Banking was to open up the proverbial treasure trove of data on which banks sit. Everything in our financial histories is known to the banks, and with 90 per cent of consumers banking with one of the big nine…

As the year of Open Banking begins, consumer organisations, academics and even the Church are looking at what it means for consumers. I kicked off my January writing and presenting an essay for the Vatican on fintech, competition and vulnerability – levelling the playing field was the central theme. It was fascinating to join a…

People have been predicting the demise of bank branches for years. Today that death knell seems to be ringing louder than ever as foot traffic continues to decline, new technologies allow customers to conduct banking from their phones, and mobile-only challenger banks are rapidly attracting customers and accounts. But the traditional branch network is far…

While Open Banking started in the UK as primarily a mandatory step for the nine top banks (CMA9) under the directive of the Competition and Markets Authority (CMA) through the CMA Order, none of us involved in the initial steps of Open Banking could have imagined the global impact that this initiative would have. Countries…