Having already experienced operating in a post Open Banking environment in Japan, Moneytree are in a fortunate position to provide recommendations on how the Australian market should look to prepare for Open Banking. In this session they look to highlight key areas of focus for preparations, as well as make recommendations based on the lessons they have learnt on this journey.
- Case study: Moneytree in Japan
- Differences in legislation and standards to the Australian market and areas of crossover
- Considerations to make when approaching open banking – what we found to be key
- Lessons learned and recommendations based on our experiences in Japan
- What Open Banking will mean for your business model
- How your enterprise should be preparing for open banking
1:20 PM Panel - New data pools, new opportunities - what will Open Banking mean to second tier banks and Fintechs?
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