We are fast approaching 'd-day' for Open Banking. The Competition & Markets Authority set the date of 13 January 2018 for the completion, by the CMA, of its Open Banking Order, to coincide with the coming into force of the PSD2. On that date, the Open Banking API standards, on which the OBIE has been working for 18 months, will go live and be available for use.
Ahead of this date, techUK is launching its policy paper: The Future of Open Banking - the Long View. Our paper takes a long and hard look at the remaining issues around Open Banking, the crucial nature of its success for the future evolution of 'joined-up financial services' in the UK and, in particular, what the tech community needs to make it a reality:
• open, transparent and inclusive governance;
• collaboration to embed API development;
• the extension of open banking principles to financial services beyond payments;
• a planned communication programme for consumers and SMEs.
To mark this launch we will hold a discussion with major industry experts at the heart of Open Banking and the API world.
Innovative companies Modulr, Fluidly, Bud and Funding Options will show us the face of the new API world by exploring their products and services. Our panel will then discuss major policy questions:
• How far will we really be by January 2018 and what more needs to be done?
• How will the ongoing work be carried out so as to fully engage the banking and technology sectors
• Have we adequately tackled traceability, liability, dispute resolution?
• What needs to be done to get payment users - consumers and SMEs - on board?
Our expert speakers are:
• Kosten Metreweli, CCO, Modulr
• Conrad Ford, CEO, Funding Options
• Jamie Campbell, Head of Awareness, Bud
• Gavin Littlejohn, FDATA
• Caroline Plumb, CEO Fluidly
• Chris Gorst, Nesta