Fintech Insider Podcast by 11:FS

993. News: Visa’s exit from US open banking, free subway rides from Revolut, and the great UK meal deal debate

Sep 1, 2025
This week’s guests include Megan Caywood, an AI-focused fintech pioneer, Grant Evans from WorldPay, and Oliver Smith of Money 2020 Europe. They discuss Visa's surprising exit from U.S. open banking amid regulatory hurdles. Revolut's quirky promotional strategy of offering free subway rides captures attention, while the reversal by Australia's Commonwealth Bank on AI replacing jobs raises eyebrows. The hot topic of rising UK supermarket prices and the cultural significance of meal deals adds a humorous twist to the conversation.
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INSIGHT

Regulation Determines Open Banking Winners

  • Visa pulled US open banking due to regulatory ambiguity and bank resistance to mandated data sharing.
  • Megan Caywood argues Europe/LATAM win because regulation there mandates data portability and enables innovation.
INSIGHT

APIs Are Prerequisite For Agentic AI

  • Startups will favour markets with open APIs because agentic AI needs connectivity to act autonomously.
  • Megan Caywood predicts UK/EU maturity will create a first-mover advantage for AI-driven finance.
ADVICE

Make Roadmaps Public And Transparent

  • Publish a clear public roadmap to invite customer feedback and build trust.
  • Communicate reprioritisations transparently and explain regulatory or resourcing changes when plans shift.
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