Which Open Banking myths need debunking?

Ellie Duncan |

A panel of industry leaders are set to dispel the myths that are stalling wider adoption of Open Banking and offer their first-hand experiences of implementation.

In a live debate hosted by Open Banking Expo on 29 April 2021, Open Banking – Myth busting with those setting the pace in association with Equifax, the expert panel will consider why some organisations see it as a revolutionary way of building new data profiles on consumers, while in some cases, fear of the unknown is hindering take-up of Open Banking.

Are lenders right to view Open Banking as a cost and a threat? How do bank customers stand to benefit from lenders that embrace Open Banking? Is a lack of digital maturity holding back credit unions from adoption?

Among the panellists answering these questions and more are Emma Steeley, chief executive of AccountScore and Oakbrook Finance’s chief executive Luke Enock, as well as Sanjeev Pottay, commercial director at My Community Finance.

Ratesetter’s chief credit officer Michael Hoare and Noline Matemera, partner, financial services regulation at TLT Solicitors LLP, will also be bringing their insights to the discussion, during which Equifax is set to reveal its latest Open Banking survey results.

To hear direct from those that have implemented Open Banking and how they reassessed their credit policies to improve decisions, register here for the live event next week.