Working towards a seamless cooperation between Fintechs and banks

The development of Open Banking is accelerating fueled by both customer demand, competitive Fintech pressures and last but least, the recently adopted regulation of PSD2 and GDPR. Especially the provisions for ‘Access to the Account’ require banks to ‘open up’. It is up to the individual leaders to which extent they would like to ‘open up’ beyond compliance, i.e. defining their level of ‘platformisation’.

We are moving to a world with financial delivery and innovation will be defined and ‘clicked together’ by retail and commercial (often mobile) customers. The prerequisite is then that banks and Fintech players can seamlessly co-operate together where banks are acting as a platform facilitating their customers to have control over their account and data and the parties they wish to connect with.

Earliest by the end of 2018 the obligatory PSD2 ‘openness’ should become available in the EU-28 region. In the meantime, banking and Fintech leaders are grappling with the implications and the required actions.

At EPS we will devote ample time on this important development, by inviting leading practitioners in the emerging field of ‘Open Banking’ to share their experiences with us and to look ahead on what it takes to make a blossoming sector out of this new possibilities in the coming years.

Moderator: Vincent Jansen | Principal Consultant | Innopay | The Hague

Panellists:

• Vincent Brennan | Chair of the Open Banking Working Group EBA | Head of Group Operations & Payment at Bank of Ireland | Dublin
• Don Ginsel | Founder | Holland Fintech | Amsterdam

Additional Interesting Reads:
CMA, PSD2 and API: A solution for open banking
EBA – Open Forum on Open Banking