Chief Analytics Officer
Conference Day Two: Wednesday, 22nd May 2019
Wednesday, May 22nd, 2019
1:40 PM PANEL: New data pools, new opportunities - what will Open Banking and Open Data mean to smaller financial institutions and other industries?
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. This will translate across all industries, with Telco and energy they next to be affected after financial services. No longer will the largest players have the 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 and other industries alike.
- Current innovation and how the market will be impacted by Open Banking and Open Data
- When more data is available, how should we decide the data to target and utilize to benefit both business and customer?
- Provision of value added data versus raw data – what are the opinions and what will be the significance of these decisions
- What other industries are doing to prepare and how this differs from open banking
- How can we partner with other companies to provide improved and tailored experiences for our customers?
- What the possible hurdles are and how to plan ahead of them
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