The podcast discusses the importance of digital identity and personal data, the role of OpenID Foundation in managing data sharing, the complexities of identity in open banking, evolving security protocols, managing distributed identities, the fluid nature of identity, and the significance of digital identity in financial transactions.

At the heart of open banking lies an important and difficult question: do you own your data?As internet giants like Facebook and Google continue to grow, data rights seem like a natural next step in our society. After all, data has surpassed oil in value and yet, most consumers know very little about what their data is actually being used for and how it is being shared. In our final episode of Mr. Open Banking’s first season, Eyal sits down with industry expert James Bligh, Co-Founder of RedCrew and lead developer for Australia’s Consumer Data Right (CDR). The two discuss what makes the CDR unique among open banking standards, the debate about whether data is even yours to begin with, and the ongoing journey towards the establishment of universal data rights.Specifically, James and Eyal discuss:What Australia’s “Consumer Data Right” (CDR) is and what it means for consumers;The ongoing demand for data to be put back in the hands of consumers;The CDR’s implications on Australian banks;The difference between data rights, data standards, data ownership, and data control;How the current data monopolies led by tech giants are impacted by open banking.

In modern banking, new digital challengers are taking on traditional players by providing a better experience for end-customers. Banks need to either keep up or get left behind. On the seventh episode of Mr. Open Banking, Eyal is joined by David Brear to discuss what David calls “The Banking Battlefield.” The two dive into FinTechs' role in challenging major banks to solve consumer problems and the reasons why banks are inhibiting themselves from making changes. David Brear is the Founder and CEO of 11FS, a world-renowned FinTech consultancy that focuses on building and launching the next generation of digital propositions for some of the biggest banks in the world. Specifically, David and Eyal Discuss: What exactly “The Banking Battlefield” is and what it looks like today; The difference between digitize and digital;What GAFAs entrance into the FinTech space means for big banks;The relationship between fintech and open banking.

While sharing financial data is part of the equation, open banking only really gets interesting when you add the ability to move money around. In the sixth episode of Mr. Open Banking, Eyal is taking us through the world of payments with Nilixa Devlukia, the CEO and Founder of Payments Solved. A lawyer by background, Nilixa is shaking up the payment ecosystem to make it more secure, transparent, and inclusive. Her work has spanned the European Commission, European Central Bank, and even the EU. Throughout the episode, the two discuss what needs to happen to create an open payments ecosystem across the globe. Specifically, Nilixa and Eyal discuss:What electronic payments are and how they work; How open banking changes the payments landscape ; What still needs to be done to enable open banking payments; The role of cryptocurrencies and central banks;The future of the global payments landscape. To learn more about Nilixa, check out the following: LinkedIn: https://www.linkedin.com/in/nilixa-devlukia-49162a35/

Who controls financial data in Canada? How will the ultimate arrival of open banking change that? In our fifth episode of Mr. Open Banking, Eyal comes home to Canada to discuss the challenges and opportunities surrounding the Canadian ecosystem with Senator Colin Deacon. Prior to joining the Canadian Senate in Nova Scotia, Senator Deacon ran several global technology businesses and today is a vocal advocate for open banking in Canada. During their conversation, they touch on data privacy, financial transparency, and the balance between regulatory and market demand. Specifically, Colin and Eyal discuss:What the financial landscape in Canada currently looks like;The importance of consumer data rights;Why financial transparency is needed to share information between institutions;What pushback has occurred when advocating for a more open, democratic financial system.To learn more about Colin, check out the following: Website: https://sencanada.ca/en/senators/deacon-colin/Twitter: https://twitter.com/colindeacon?lang=enLinkedIn: https://www.linkedin.com/in/senatorcolindeacon/

What could radical transparency do for our financial ecosystem? How do we create a world that is built on fundamental uncertainty, that adapts to our needs rather than determining them for us?  On our fourth episode of Mr. Open Banking, Eyal is joined by Paolo Sironi, Global Research Leader Banking and Financial Markets, IBM Institute for Business Value  and author of “Financial Market Transparency” and “FinTech Innovation”. By the end of this episode, you will understand the driving philosophical forces behind the open banking movement and gain a big picture understanding of what our financial landscape could look like with and without open banking. Specifically, Paolo and Eyal discuss:How to build a system that is better tailored to our behaviour as human beings;How the economy can better withstand the shocks of uncertain times;Why “radical transparency” is vital for our evolving financial ecosystem; The role of fundamental uncertainty in continually volatile environments; The underlying philosophy of open banking as a whole. To learn more about Paolo, check out the following: Website: http://www.thepsironi.com/Twitter: https://twitter.com/thepsironiLinkedIn: https://www.linkedin.com/in/thepsironi/

So, what is open banking and how does it work?In our first episode of Mr. Open Banking, Eyal sits down with Chris Michael, the Founder of Ozone API and the development leader of the open banking implementation entity (OBIE), to discuss the technology behind open banking.  If you’re not a techie, don’t worry, we do our best to explain everything in a simple, easy to understand way. By the end of this episode, you will have a clear foundation of what open banking is all about, how it can be used, and why it is supporting a better financial ecosystem for everyone. Specifically, the episode touches on:What is open banking?What are APIs and why are they important?Is open banking safe?Should we share our financial data?What could happen if banks don’t adopt open banking?If you want to learn more about Chris and his work at Ozone API, you can find him atwww.ozoneapi.com. 

On this episode of Mr. Open Banking, Eyal is joined by Gavin Littlejohn, Chairman of FData Global, a not-for-profit that leads negotiations between banks and regulators to develop their open banking initiatives all over the globe. Their conversation spans the importance of data rights, creating standards, and the global landscape of today’s open banking movement. By the end of this episode, you will have a better idea of how to take hold of your own financial data and why regulatory standards are vital to today’s open banking movement. Specifically, Gavin and Eyal discuss:The impact of the Revised Payment Services Directive, commonly known as PSD2;The four building blocks of open banking;The difference between the UK and United States open banking efforts;What it means to own your data;The role that FDATA is playing in evolving the open banking movement.To learn more about Gavin and his work at FDATA Global, check out the following:Website: https://fdata.global/Twitter: https://twitter.com/FDATAglobalLinkedIn: https://www.linkedin.com/in/fdata-global-34017716b/

What should come first; customer-centric technologies or regulations? In episode two of Mr. Open Banking, Eyal is chatting with Don Cardinal, the Managing Director of the Financial Data Exchange (FDX). Based out of the United States, Don discusses his perspective on the evolution of open banking, led from a customer-centric perspective and the importance of building collective standards when implementing new financial technologies. By the end of this episode, you will understand the term ‘screen scraping,’ why APIs are a better way to move forward, and the need for customer-centric design amongst financial products. Specifically, Don and Eyal discuss: Why the term “open banking” isn’t commonly used in the United States;The importance of API’s to unify financial institutions;How FDX approaches the idea of a global standard; The five key principles to follow when developing an effective open banking standard;Whether or not open banking is simply a set of regulations.To learn more about Don and his work at FDX, check out the following:Website: www.financialdataexchange.orgTwitter: https://twitter.com/fdxorgLinkedIn: https://www.linkedin.com/company/financial-data-exchange/

The podcast dedicated to open banking, our podcast strives to be one of the key voices in the global open banking community. The goal of the show is to educate people on how the world of finance is being shaken up by open banking, ultimately giving them more ways to save their money, move money around and improve their financial well-being.