In this episode, James Barker and Simon Lyons explore the real story behind Open Banking — from its origins to the complex market dynamics shaping its future.
We dive into key trends in fintech, payments, credit scoring, consumer behavior, and corporate banking innovation. Whether you're a fintech enthusiast, startup founder, or corporate strategist, this conversation will challenge the way you think about Open Banking and its long-term viability.
What You’ll Learn:
- Why Open Banking was originally created to drive competition and better consumer choice.
- How SME businesses have benefitted from open banking, especially in accounting and bookkeeping.
- Why accuracy in payment processing is a game-changer.
- The challenges of monetizing Open Banking in the UK due to free banking models.
- Why Open Banking hasn’t replaced traditional players like Visa and Mastercard.
- How low-cost competitors complicate open banking sales dynamics.
- Predictions about consolidation, failures, and acquisitions in the Open Banking vendor landscape.
Key Takeaways:
- Education for corporates is crucial for the success of Open Banking.
- Strategic acquisitions may be critical to the future of the sector.
- Open Banking primarily benefits the corporate sector, not individual consumers.
Chapters:
00:00 - Introduction to Open Banking
01:28 - Understanding Open Banking: History and Purpose
03:57 - Initial Expectations vs. Current Reality
10:06 - The Evolution of Credit Scoring and Lending
12:31 - The Role of Open Banking in Business Payments
16:41 - Challenges in the Open Banking Landscape
22:42 - The Impact of Competition and Pricing
29:43 - Sales Dynamics in Open Banking
37:48 - Future Outlook for Open Banking
41:48 - Closing Thoughts + Endscreen

Ver todos los episodios