As the only podcast dedicated to open banking, our podcast strives to be one of the key voices in the global open banking community. The goal of the show is to educate people on how the world of finance is being shaken up by open banking, ultimately giving them more ways to save their money, move money around and improve their financial well-being. To those building open banking, we bring the unique perspectives of technology innovators, financial leaders and key influencers, as we aim to accelerate its continued evolution.‍

The Threat of Open Banking

June 21, 2022 40:10 57.86 MB Downloads: 0

Despite the doubts of skeptics, the open banking movement is here and it’s evolving quickly. Right now, over 50 regions around the world are in various stages of implementing open banking, while some are already moving into the next stage of the progression: open finance. In this episode, Eyal sits down with Amit Mallick, the Global Open Banking Practice Lead at Accenture, to discuss the threat posed by open banking, and how major players like big banks can respond as they adjust their strategies to compete and succeed in the new financial ecosystem. During their conversation, Eyal and Amit discuss exactly what’s at stake as we transition to an open data economy ($416 billion in bank revenue, to be exact), how banks can best respond to the coming disruption, and how best to discover entirely new kinds of opportunities. 

Specifically they discuss: 

  • Why the stakes are so high as we make the transition to an open data economy
  • How big banks can avoid losing their market share as they compete with fintechs, rival banks and other stakeholders
  • The four core capabilities banks will need to support their evolution 
  • Why embedded finance is the key to unlocking the real value of open banking
  • The evolution of super apps as a key component of the larger transition to an open data economy