Will Open Banking Go Mainstream in 2019?

Writing in AltFi Steven Bisoffi, Payments Advisory Lead at Huntswood, asks if 2019 will be the year that open banking will begin to to take off; after being enacted early in 2018 the initiative has been slow to gain traction and uptake on consumer knowledge has also been low; there is a big opportunity for third party providers to gain the customer trust after a number of technical issues at high street banks in 2018; this comes with a risk as third party providers need to ensure they don’t become immersed in scandal or they could hurt their growth before it really gets going; ultimately consumers are the key to the program, they need to understand how they can gain greater access to their financial data. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.