Open banking – how is it going? A force for good or just ratcheting up the pressure to stay afloat?

James Goad

Open Banking is largely viewed as a positive business opportunity. To capitalise on this opportunity financial institutions must ensure they fully understand the benefits and that are developing seamless solutions to suit their customers.


  • Who Wins / Who Loses?
  • Revolution or Evolution?
  • What are the risks?

Key issues and challenges

  • Developing as a business opportunity as opposed to a pure regulatory burden.
  • API strategy …is it enough? How do we connect beyond pure technology?
  • Ensure that this delivers a more customer centric approach.
  • Its not a case of educating customers but more about developing seamless solutions.
  • How do ‘old’ & ‘new’ collaborate to deliver the best outcomes?
  • Determine how the balance between manufacturing and distribution is achieved.

Conclusions and solutions

  • Big banks will survive but could look very different.
  • Fintechs are presenting cool new opportunities but can they all survive?
  • Are we likely to see consolidation in the market?
  • More of a level playing field and those offering true personalized offerings are likely to win through.
  • Overall the open banking agenda is positive move and could/should benefit the industry and its customers.

Moderator: Phil Alcock, Raisin UK

Expert: Olly Betts, Bizfitech