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  • Kirsi Larkiala

Open Banking discussion insights

It has been great week with several #openbanking players; European banks, EU related bodies, major Fintech players in Europe and tech houses in corporate customer´s Ecosystem positioning themselves towards new "financialservices.

The most interesting insights from the discussions. Insights are quite clearly highlighting the status from business point of view in Europe.

  • Main b2b offering aimed at solving lack of standardisation in #psd2 #APIs, Still more to do

  • Open data economy is all about access to realise data sovereignty

  • Importance of data trust framework: requires business, technology & regulatory agreements

  • Cost-effective way to data access

  • Lot of discussions& concerns about open data economy , trust & global reach

  • Banks can offer premium #APIs in the future as well; this is the obvious new business to corporate banking

  • We already have 99% ready, but we just have to make sure that everything starts to happen and ensure that we deliver more from what we have

  • European banks keep saying the open banking buzz has been up& running already 10months& active demand by customers both consumers and corporates

  • But we need more standards & harmonised APIs as corporate demands are high regarding what solutions we can really create with open data

  • The most interesting business case is with the “new data” which is not regulated by PSD2

  • Better bank - bank collaboration is needed

We are more than happy to discuss with you further the new business & collaboration possibilities. The shop is open!

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