It was brilliant to be part of the insightful discussion at Open Banking World Congress - with speakers presenting from all over the globe and thousands of live viewers tuning in to hear from them - plus many more to follow as the on demand viewing figures rise.
This was an event we were fortunate to participate in ourselves, with a keynote presentation from Moneyhub CTO Dave Tonge on whether API security is up for the Open Finance challenge, which is available to view now:
CEO Sam Seaton took part in three comprehensive panel discussions which are now available to view too:
How Open Finance can boost financial wellness
Consumer money management - Open Banking style
Tech & Data Driven Innovation in Open Banking
So what were some of our main outtakes from this year’s event?
When it comes to API Security, there’s no need to reinvent the wheel – there are really good security standards already in place. And with FAPI 2.0 on the way, we’ve ironed out any areas of confusion and put in place stronger industry standards.
The new currency that everyone will need to survive and thrive is trust. That’s the way that we will make it as businesses in the future. Open Finance and Open Data are the keys to unlock trust.
20 million say their financial situation is worse since the Covid-19 pandemic, and the impact will drive behavioural changes that are here to stay. Open Finance can help these people in ways that any business can leverage, through:
Connectivity that gives greater clarity and control to consumers over their finances
Technology that delivers real-time, data-led personalised understanding and does the heavy lifting for you
Better engagement via unique insights and tailored smart-nudges that help any company to build trust with their customers
Bringing convenience to the forefront with account-to-account payments
Simple propositions make Open Finance accessible and appealing to everyday consumers. Just putting long-term savings and pensions alongside day-to-day money drives a huge shift in consumer engagement with their long-term finances.
And finally, whilst we miss travelling, getting to meet new people and hear from other speakers in person, there are some real advantages to the impact the pandemic has had in driving events online. From an attendee point of view, you can join any talk you like at the click of a button, whether that’s live, or later on at your own convenience, giving us far greater opportunity to truly engage in and absorb the discussions that matter to us - on our own terms.
If you have any questions or feedback for us following Open Banking World Congress, or if we can help you with you Open Banking or Open Finance journey, please feel free to drop us a line, we’d love to hear from you.