Insights
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…
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?” …
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…
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…
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…
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…
Financial exclusion is real and is much more than not being able to pay. According to the European Investment Bank, as of 2017, 66 per cent of adults in Africa did not have access to financial services, many of which have the potential to transform their lives. It is no…
Dr Louise Beaumont works with legislators and regulators to create disruption, with corporates to cope with disruption, and with start-ups to exploit disruption. Her roles include chair of techUK’s Open Banking & Payments Working Group, member of Pay.UK’s End User Advisory Council; and advisor to Yapily, Funding Options and Bottomline.…
Starting as an innovative regulatory disposition in the United Kingdom, in just a few years, Open Banking has become a revolutionary global movement. Considered one of the cures to current financial systems’ ails, rooted in its obsoleteness and a loss of touch with today’s realities, it promises to spark new…
Imagine a daisy – a small white flower – and I will paint a picture in your mind of what open data really means for an individual or for a small business in our open future. Imagine that you’re the yellow bit right at the very centre of the daisy,…