GM of Technology, Innovation & Products
1:50 PM Why Mystate Bank Are Ahead Of The Curve And Well Prepared For Complying With And Maximizing Upon Open Banking
Open banking will involve new risks and challenges as well as exciting new opportunities for those in the financial industry. Here Mystate Bank share their thoughts on what they anticipate to be challenges and how they look to prepare for them, as well as the importance of building awareness among all parties.
- Mystate Bank’s view on what the risks, opportunities and challenges of open banking will be
- Creating and implementing differing business models
- Anticipating data usage and planning ahead
- Recognizing the importance of customer education and ensuring it is achieved successfully
- Building awareness internally and externally – how to communicate open banking to senior management teams and customers
- Deciding on the best way to interface with customers – what are the options?
- Why and how working with Fintechs can be advantageous to all parties
2:50 PM Panel Discussion: Considering The Importance Of Constructing API Frameworks Which Comply With Standards While Also Benefitting The Consumer In Innovative and Exciting Ways
The benefits of Open Banking will only be felt by both the company and consumer if businesses are able to innovate and experiment with the construction of API frameworks. Partnering with Fintechs to achieve this vision can open up new realms of possibility, which in a competitive market, is necessary to stay ahead of the competition and retain customers.
This panel will explore the key considerations which must be made when planning to open up APIs.
- Opportunities available to industry through open data and opening up APIs
- Piloting new ideas – keys considerations and objectives
- Working with Fintechs to enable innovation
- Possible pitfalls and lessoned learned in experimenting with API frameworks
- Customer centricity – allowing creativity which focuses on the consumer’s needs