Actions and Detail Panel
Open Banking Summit '17
Tue, 9 May 2017, 08:30 – Wed, 10 May 2017, 18:00 BST
Open Banking Summit
Fostering Open APIs & Data Sharing, to Drive Innovation & Customer Choice
Workshops: 9th May, 2017
Summit: 10th May, 2017
Open Banking is the cornerstone of a new digital banking framework, which will increase customer choice, catalyse innovation, and open up the sector to new players. As this sea change promotes collaboration between incumbents and fintechs, it is creating great opportunities and challenges for both.
The multiplicity of legacy data systems and processing systems makes it costly and technically difficult for large banks to handle open APIs. Additional access points create complexity and potentially expose banks to a greater level of threat. As more transactions begin to take place, the load on existing systems will only increase.
While there is still a plethora of challenges to be overcome, dialogue has recently turned to how firms – both old and new - can commercialise open banking.
ECN’s Open Banking Summit will explore the strategic ramifications of the move to open banking, and what this means for our digital economies. It will bring together senior-level stakeholders from: incumbents, challenger banks, fintechs, PSPs, regulators and API providers, and related financial services firms.
The high-level, interactive and off-the-record discussions will reveal new insights into standards and legislation as they are being set, and identify practical, commercial strategies that firms can employ in the new environment. Attendees will hear:
- Which new business models will thrive in an open API world, and how incumbents, challenger banks and fintechs can take advantage of open banking
- The implications of data sharing for security and privacy, and strategies to protect your customers against fraud and misuse of information
- Updates on the technical implementations of open APIs being carried out by your industry peers
- Insights into live pieces of PSD2 legislation, including clarity on what new risks it will present, where accountability will lie, and how to ensure you are compliant
- How to successfully communicate open banking to customers, and ensure it has a positive impact on the greatest number of people