Steve Boms of Allon Advocacy on Open Bank Regulation

Our guest this episode is Steve Boms, Founder and President at Allon Advocacy and also Executive Director of the Financial Data & Technology Association. Steve comes out of Penn State and has worked at Capital One, the International Securities Exchange, and the US House of Representatives assisting a senior member of the Financial Services Committee. We talk about regulations and government relations in financial services. Topics include:

• Who needs a lobbyist?
• How do the countries stack up against each other in terms of regulation readiness for open banking?
• Dodd Frank passed into law in 2010 but we’re only talking about the regulations going into place at the end of 2024. Why?
• What are the metrics we should be looking at that will indicate we’re moving toward connected finance in the right way and at the right speed?
• What must the consumer be reassured of when it comes to asking them to offer up their data?
• Why financial services is one of the first verticals being looked at for the application of data regulation.
• How data access will bring more competition which will bring more benefits to consumers.

Helpful Links:
Allon Advocacy
Financial Data & Technology Association
Steve Boms on LinkedIn
Envestnet Yodlee