Simon Lyons, Obconnect’s chief strategy officer, explains why he feels “immensely proud” of the recent work Obconnect has done, and the areas of Open Banking where more pace is needed.
1. What development in the Open Banking space, in your opinion, should people be paying attention to?
The embryonic shoots of sharing data via a trust framework and how much Open Banking has enabled in many other sectors and industries.
2. Do you have a key achievement in the Open Banking space from the past year you are able to share?
The work we did to protect energy customers when receiving their energy rebates and to ensure the right people got paid is something I am immensely proud of. We can all chase the dollar, but when you prevent fraud and loss from some of the most vulnerable in society, it just feels good.
3. Are there any areas where pace has been slower than expected?
I worry that policy and governance seem to have become more important than change and progress. We need to drive multiple changes through in Open Banking, so it is commercially viable and sustainable for those in the ecosystem.
4. Any organisations or players you feel are the ones to watch, trailblazing in this space?
I am biased, I am immensely proud of what we are doing at Obconnect. However, watch out for the impact PayPoint can make in this market with their wide and strategic thinking, and their immensely strong customer relationships.
Simon Lyons is speaking at Open Banking Expo UK and Europe, which runs across 18-19 October in London and features more than 150 speakers across seven stages – click here to register for tickets and check out the agenda.