Julian Wells, director at Whitecap Consulting, answers our quickfire questions on Open Banking progress and where the pace of development needs to pick up, ahead of chairing the Main Stage at Open Banking Expo UK and Europe.
1. What development in the Open Banking space, in your opinion, should people be paying attention to?
Continued focus on increasing consumer and SME adoption of Open Banking enabled services is key.
2. Do you have a key achievement in the Open Banking space from the past year you are able to share?
Working in partnership with Intuit, we published a significant report earlier this year on the opportunities that Open Finance offers for small businesses.
3. Are there any areas where pace has been slower than expected?
The provision of valuable support for small businesses. I feel there should be more focus on how small businesses can benefit from Open Banking-enabled services that can help them with key challenges, such as cashflow, being paid promptly, and accessing finance.
4. Are there any organisations or players you feel are the ones to watch, trailblazing in this space?
There are too many trailblazers to pick one out, but Open Banking is a major opportunity for organisations across all parts of the economy, with huge growth potential.
Julian Wells is chairing the Main Stage on Day Two of Open Banking Expo UK and Europe at the Business Design Centre in London. Find out more about the agenda and how to attend here.