Ana Climente Alarcon, head of Open Banking at BBVA Spain, reveals why the panel she is taking part in at Open Banking Expo Europe later this month, ‘The open journey to PSD3’, is such a hot topic and explains the potential of an Open Data ecosystem.
1. What is of note, in your view, on this year’s Open Banking Expo Europe agenda?
This event is a reference for the European ecosystem participants to review the development of Open Banking, analyse the current market progress and regulatory trends, as well as discuss how PSD3 fits into the EU’s Retail Payments Strategy.
2. What makes your panel stand out from the rest?
PSD2 fostered innovation and business models in the finance sector from 2019. In the current environment of fast evolving client needs, regulators have the challenge to pave the way for a broader cross-industry data sharing ecosystem. PSD3 will have a transformative impact, driving even more data sharing within additional financial service areas, such as investing, financial planning, and borrowing.
3. What unique perspective will you bring to the conversation?
Open Finance is the next step. It allows the exchange of data to occur between a wide range of financial companies, enabling a more holistic assessment of an individual’s digital financial footprint. The increased sources of financial data also translate to more use cases where consumers can leverage their data to make more informed decisions and improve their financial wellbeing.
4. Why is your topic for discussion important?
An Open Finance framework that allows the development of better financial products, better targeted advice and better access for consumers, as well as greater efficiency in transactions between companies. The fast-changing environment requires business leaders to keep up with new developments.
5. What is the key message you want to leave the audience with?
Customer demand and regulatory initiatives are bringing us closer to Open Data, a data-driven world that will connect all ecosystems from finance to tech. Cross-industry approaches beyond financial services will set the basis of a much richer range of products and services, and will allow consumers to fully own their data streams and derive benefit from them.
The panel debate ‘The open journey to PSD3: A new Open Finance framework’ is part of Open Banking Expo Europe, which takes place on 30 September 2022 in Amsterdam, Netherlands, with headline partner Token. Click here to view the agenda in full and get your tickets, which are free for qualifying individuals.