What does open banking mean in terms of practical applications? And what are the benefits for consumers? In this interesting panel discussion at RBI 2017 in London, Daryl Wilkinson suggests a few topics for his guests to ponder, including what it means to be compliant, innovative and openminded about different business models.
Guests are Nadja Schlössel from Figo, Stephen Wright from RBS, Jamie Campbell from Bud, and Hetal Popat from HSBC Bank UK.
I spoke to Daryl Wilkinson of DWC straight after the panel discussion. We talked about open banking, and the approach to innovation taken by many financial institutions: “I don’t believe banks are moving fast enough. I think that’s a fair criticism. I think they hear the criticism and they’re making the changes, so it’s not like they’re ignoring it. I’m concerned that they’ve lost themselves with innovation labs and design studios, and the PR and facade of being innovative, rather than the substance of doing it.”
You can hear the whole discussion below, or at this link.
This post is brought to you in association with FinTech Network and the 2nd Annual Retail Banking Innovation Conference, of which BankNXT was recognised as ‘Lead Media Partner’.