Mr. Open Banking

New episode alert! The fifth episode of Season 5, entitled “Fast Future Blur,” explores our current period of unprecedented technological change known as the Fourth Industrial Revolution. Eyal and guest, Dr. Efi Pylarinou, renowned Fintech influencer and Co-author of Fast Future Blur, discuss how this period of rapid digital transformation is shaping our future, including how business archetypes are evolving, the types of leaders we need and the crucial role of open standards. The episode touches on: ✓ The Fourth Industrial Revolution ✓ The four business archetypes ✓ Moving from digital native to AI native ✓ How the nature of banking is changing ✓ The importance of openness Listen to the full episode now: https://lnkd.in/gK4eQxga

ICYMI: Simon Torrance, CEO of Embedded Finance & Insurance Strategies, talks about people’s dwindling trust in their financial institutions. Listen to the full conversation here: https://lnkd.in/gUs2TZ7b

Thrilled to share that I’ll be speaking at the NextGen Payments & RegTech Forum in December!    It’s a great opportunity to connect with fellow industry leaders and explore the cutting-edge developments shaping the future of payments. Can't wait to see you there and dive into some insightful discussions! #Fintech #PaymentsInnovation #NextGenPayments https://lnkd.in/gq3KNftD

New episode alert! The fourth episode of Season 5, entitled “Embedded Finance”, explores how financial services are being seamlessly integrated into the digital experiences you already know and love, as well as how it relates to open banking. Eyal and guest Simon Torrance, CEO and Founder of Embedded Finance & Insurance Strategies, discuss how open banking, real-time payments, and agentic A.I. will help fill the gap between financial needs and financial services. The episode touches on: ✓ Why Embedded Finance is about collaboration ✓ Advantages to banks and non-banks alike ✓ Moving from Embedded Finance 1.0 to 2.0 ✓ The Embedded Finance operating system ✓ Real-time payments and agentic A.I. Listen to the full episode now: https://lnkd.in/gUs2TZ7b

ICYMI: Jamie K Leach (MAppFin - GAICD), Open Data Strategist for Raidiam, describes the early days of Australia's Consumer Data Right (CDR) legislation. Listen to the full conversation here: https://lnkd.in/gMx_h3Cx

Open Banking Limited (OBL), the U.K. standards body, has announced their latest #OpenBanking Standard: version 4.0. Their first major release since 2018. “Key updates, including the FAPI uplift, ISO 20022 alignment and information flow changes, are all incredibly important to deliver the best possible experience for open banking users,” says Fiona Hamilton, Standards Director, OBL. You can refer to the OBL site for a complete list of changes in the v4.0 standard: https://lnkd.in/ec_2yJTm

New episode alert! Eyal and guest Jamie K Leach (MAppFin - GAICD), Open Data Strategist for Raidiam, explore the origins of Australia’s Consumer Data Right (CDR) regulatory effort and its implications for the future of open data. The episode touches on: ✓ The origins of Australia’s foray into open data ✓ What made CDR so ambitious and forward-thinking ✓ The challenges that have caused the CDR to stall ✓ How ConnectID offered a market-driven alternative ✓ Where Australian open banking is headed from here Listen to the full episode now: https://lnkd.in/gMx_h3Cx

This week in exciting #OpenBanking news: last Wednesday, the Consumer Financial Protection Bureau (CFPB) announced a new rule explaining the qualifications and attributes a standard setting body will need to be recognized by the CFPB. This is significant because recognized industry standard setting bodies will be able to issue standards to companies so they can comply with the CFPB’s upcoming Personal Financial Data Rights Rule.   “Industry standards can be weaponized by dominant firms in order to maintain their market position, undermining competition for all,” said CFPB Director Rohit Chopra in the CFPB's press release. “Today’s rule will prevent these firms from rigging standards in their favor by identifying attributes the CFPB will use to recognize standard setters.”   To gain recognition from the CFPB, a standard setting body will need to display: ·  Openness ·  Transparency ·  Balanced decision-making ·  Consensus ·  Due process and appeals It is widely expected that the FDX API from the Financial Data Exchange will be declared as official standard, based on its existing market dominance. However, the CFPB has made it clear that FDX should not take this for granted, and with the release of these guidelines, they have set the bar for selection quite high, level playing field in the open banking ecosystem.   Read more in the release here: https://bit.ly/3KydorY

New episode alert! 🚨 The second episode of season five takes a closer look at the status of open banking regulations in the U.S., now that the country is finally beginning to diverge from its strictly market-driven approach. 🇺🇲 Along with his guest John Pitts, Global Head of Policy at Plaid, Eyal explores the Consumer Financial Protection Bureau's (CFPB) new proposed regulation, which is designed to solidify and protect Personal Financial Data Rights. The episode touches on: ✓ The old era vs. the new eras of U.S. open banking ✓ The CFPB’s Personal Financial Data Rights regulation ✓ How regulators and markets balance one another ✓ Impact to consumers, banks and other stakeholders ✓ Creating a new deal with our technology providers Listen to the full episode now: https://lnkd.in/gq9NVwe5

A second bill on #OpenBanking in Canada is expected this fall. The federal government plans to introduce a follow-up to the budget implementation bill, Bill C-69, expected after the 2024 fall economic statement. The bill will include key aspects like accreditation for participating entities. Read more from Advisor.ca: https://lnkd.in/g55_W7MT #OpenBankingInCanada #FallEconomicStatement