432. Insights: How could open finance shape the future of financial services?

Adam Davis and Sarah Kocianski are joined by some great guests to discuss open finance - what it is, how is could work and what learnings it could take from open banking, with an expert panel of guests from Plaid, RBS and the OBIE.

Our expert hosts, Adam Davis and Sarah Kocianski, are joined by some great guests to talk open finance.
We want to know what it is, how is could work and improve customers' lives, what hurdles and regulation might have to be overcome or changed, and what learnings it could take from open banking,

This week's guests are all experts in open banking and finance who help us lift the lid on this new and unexplored topic. Including:

• Dan Morgan, Policy Lead, Europe, Plaid
• Daniel Globerson, Head of Open Banking, RBS
• Faith Reynolds, Independent Consumer Representative for the Open Banking Implementation Entity

The FCA, the UK’s regulator put out a Call for Input on the development of Open Finance to which we at 11:FS submitted our own input, as did our panel, and its our joint views on open finance, and its evoution and eventual roll out, that we discuss in this show.

We have also teamed up with Dan Morgan and the team over at Plaid to publish our joint ideas on how we see Open Finance evolving in a written report which you can find at bit.ly/openfinance2020.

This podcast is brought to you by Mitek (NASDAQ: MITK). Mitek is a global leader in mobile capture and digital identity verification solutions built on the latest advancements in computer vision, artificial intelligence and machine learning. Mitek’s identity verification solutions enable an enterprise to verify a user’s identity during a digital transaction, which assists businesses operating in highly regulated markets to reduce financial risk and meet regulatory requirements while increasing revenue from digital channels. Financial services, marketplaces and other organizations around the world use Mitek to reduce friction creating the digital experiences their customers expect. Mobile Deposit® and Mobile Verify® are used by millions of consumers for check deposit, new account opening and more. The company is based in San Diego with offices in New York, London, Amsterdam, Barcelona, Paris and St Petersburg. Learn more at www.miteksystems.com.

This podcast is also brought to you by Equinix. Equinix is the world's largest data center & colocation provider, enabling fastest application performance, lowest latency and a digital ecosystem for financial services. Its platform of 200+ data centres worldwide protects, connects and empowers the mission-critical infrastructure for over 10,000 businesses.

This podcast is also brought to you by Salesforce. Right now, business leaders are re-thinking, re-assessing and re-purposing business as usual to deal with this new crisis. It’s a global conversation Salesforce is having called Leading Through Change. And it’s all about businesses relying on each other to achieve one simple goal: Help. Learn more at salesforce.com

Small business financial services are only 1% finished. Our latest research examines the Jobs to be Done and cultural insights on what US business owners need, and the digital services that will help them meet their goals. Download the research for free by heading to bit.ly/digitalsmb.

Fintech Insider by 11:FS is a podcast dedicated to all things fintech, banking, technology and financial services. Hosted by a rotation of 11:FS experts including David Brear, Simon Taylor, Jason Bates, Leda Glyptis and Sarah Kocianski and joined by a range of brilliant guests, we cover the latest global news, bring you interviews from industry experts or take a deep dive into subject matters such as APIs, AI or digital banking.

If you enjoyed this episode, don't forget to subscribe and please leave a review

Follow us on Twitter: www.twitter.com/fintechinsiders where you can ask the hosts questions, alternatively email podcasts@11fs.com!

Special Guests: Dan Globerson, Dan Morgan, and Faith Reynolds.