Conference Day Two: Wednesday, 22nd May 2019
8:30 am - 9:00 am Coffee And Registration
9:00 am - 9:10 am Conference Opening
9:10 am - 9:50 am HSBC UK’s Open Banking Journey : Successes, Failures and Lessons LearnedGeorgios Miltiadous - Head of Open Banking Delivery, HSBC UK
Mandated by the Competition and Markets Authority (CMA) on behalf of the UK government, open banking forces the UK’s biggest banks to share their data securely with approved third parties in order to bring more competition and innovation to financial services. A year after its introduction into the UK financial market, the Head of Open Banking Delivery for HSBC, Georgios Miltiadous, discusses how their open banking journey is progressing, the lessons they have learned so far and their plans to roll out globally.
An update from Europe
- Delivery update across the market (UK & Europe)
- An update from the ecosystem 1 year on - who has entered the market and why?
- What are new players using the data for?
- What use cases have been introduced into the market?
- How has the customer experience changed and what are customers’ attitudes towards Open Banking?
- Transition - The bigger picture: which countries are taking steps to introduce Open Banking and how do approaches vary between them?
- The challenges of delivery and how to address them.
- How HSBC are propagating what they have done in the UK globally
- Creating a modular architecture which can be taken out to other markets.
- Why it is easier the second time round - lessons learned
- Transition – threats and opportunities for legacy banks
The HSBC Case Study : Commercialization of Open Banking and Seizing Opportunities
- Connected Money
- Artha (marketplace)
- credit decision making
- commercial banking
- How HSBC took the leap to seize the Open Banking opportunity
- Why Open Banking requires a unique approach
- The importance and benefits of partnerships with third parties
- Changing the culture within the senior management
Georgios MiltiadousHead of Open Banking Delivery
9:50 am - 10:30 am Session reserved for our sponsor Edgeverve
10:30 am - 11:00 am MORNING TEA
11:00 am - 11:40 am Interactive Discussion Group – facilitated by our sponsor Okta
11:40 am - 12:20 pm How Volt Bank Are Planning To Leverage Open Banking With A Full Banking LicenseTony Ohlsson - Chief Analytics Officer, Volt Bank
Volt Bank has recently become the first digital bank to obtain a full banking license from the Australian Prudential Regulation Authority. This will mean they have a competitive advantage over other challenger banks. This session will cover how Volt Bank plan to operate in the Open Banking world with the changes they are experiencing in a new era of banking.
- Perspective from a newly licensed bank on Open Banking
- How will Open Banking affect Volt? Our predictions and plans for future hurdles
- How Volt plans to place it self strategically within the banking market to best maximize upon the data pools available through OB
- How open banking will facilitate and ease already existing practices to improve customer experience
- Our data ethics policy
Tony OhlssonChief Analytics Officer
12:20 pm - 1:20 pm Lunch Break
1:20 pm - 2:00 pm Panel - New data pools, new opportunities - what will Open Banking mean to second tier banks and Fintechs?Stuart Stoyan - CEO, MoneyPlace
Gary Cobain - CEO, Pokitpal
Ross Sharrott - CTO, Moneytree
Tommy Mermelshtayn - Chief Strategy Officer, Zip Co Limited
With the advent of open banking, smaller financial institutions find themselves in a position to vastly and rapidly improve the services they provide to customers. They will subsequently be able to compete against the larger players in the financial industry, who previously held a monopoly on customer data. This discussion will delve into the best ways to maximize on the larger data pools available and what the innovation potential is for the financial landscape.
- Current innovation and how the market will be impacted by Open Banking
- When more data is available, how do we decide upon the data to target and utilize to benefit both business and customer?
- How can we partner with larger banks to provide improved and tailored experiences?
- What are the possible hurdles to this journey and how can we anticipate them and plan ahead of them
Tommy MermelshtaynChief Strategy Officer
Zip Co Limited
2:00 pm - 2:40 pm How To Guarantee Responsible Customer Lending Through Efficacious Data AnalyticsStuart Stoyan - CEO, MoneyPlace
Open banking will improve consumer risk assessments as widespread access to bank account details among all lenders will enable a clearer picture of affordability. For this reason, responsible lending will be an expectation from all banks and financial institutions and government agencies such as APRA will likely supervise such regulations. So what can institutions do to effectively utilise the data available to them and ensure product suitability and adherence to such regulations.
- The implications of increased data pools
- What does responsible lending look like?
- Evolving consumer risk assessments
- Handling data in a way which benefits both customer and provider
- How will this change my customer relationship management?
2:40 pm - 3:10 pm Afternoon Tea
3:10 pm - 3:50 pm Improving Communication With Members To Gain Real-Time Responses And Enable Better Outcomes For All PartiesAndrew Tait - General Manager of Commercial Strategy & Sales Performance, Cbus Super Fund
Open Banking will be an opportunity for different players within the financial field to benefit from larger pools of data and information. How they utilize this data will impact not only their internal structures, but also their relationship management with customers. This session covers how to maximize on the new data pools through transformation programs which aim to benefit the customer as a first priority.
- Building a suite of APIs to communicate with external groups
- Ensuring better retirement outcomes by building an overarching picture of financial situations
- Creating opportunities for data consolidation and simplification
- Building an architecture capable of supporting such objectives
- Educating the customer to ensure joint vision and benefits
Andrew TaitGeneral Manager of Commercial Strategy & Sales Performance
Cbus Super Fund
3:50 pm - 4:30 pm Money Brilliant On Optimizing Your Organization’s Digital Strategy In Response to Open BankingPeter Lalor - CEO, Money Brilliant
Though open banking will signal the need for a change in strategy for many, some have been using the relevant technologies, which will be used as part of open banking strategies for years. These technologies have been key to advancing these businesses and it has therefore been a priority for organizations to fine-tune their usage and implementation. Money Brilliant is one example of this and here they will share their thoughts on how to approach maximizing the new data available and what they have learnt from their experiences so far.
- Realities of the Open Banking timeframe
- Challenges of using and translating the data across organizations and industries
- Money Brilliant case study
- How we have been implementing technology relevant to open banking for the past 5 years
- Top tips and key considerations when preparing your internal strategy
- Lessons learned along the way
4:30 pm - 5:10 pm RACQ Case Study: Open Banking As An Opportunity For Small Banking Institutions And CustomersMichelle Bagnall - CEO, RACQ Bank
- The competitive advantage to be gained by smaller institutions from Open Banking
- What will Open Banking mean for the customer?
- What are the member-driven solutions this will enable?
- Customer Data Right and building awareness around this concept
- Giving the customer increased and improved options
5:10 pm - 5:50 pm How Pocketbook Work With Macquarie Bank to Leverage Data To Be One Step Ahead Of The Open Banking FieldTommy Mermelshtayn - Chief Strategy Officer, Zip Co Limited
Open banking will allow opportunities for banks and Fintechs to work together in order to benefit customers as well as their businesses. This case study outlines one such example: Pocketbook and their partnership with Macquarie Bank. Through a joint endeavor, they were able to get one step ahead of Open Banking and provide customers with better services earlier.
- Personal finance management and a customer centric outlook
- How Open Banking will impact us
- Partnering with Macquarie bank – how and why?
- Relationship management between Fintechs and banks
- Pocketbook’s role in building out Macquarie’s API system
- Technology: consumption of Macquarie customers’ transaction data
- The benefit to the customer: ensuring the best customer proposition and product
Tommy MermelshtaynChief Strategy Officer
Zip Co Limited