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 - 9:40 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 Use cases:
- 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
9:40 am - 10:10 am How Financial Institutions Of Different Sizes Are Leveraging Open Banking To Enable Customers To Better Manage Their FinancesRajashekara V Maiya - Global Head of Business Consulting & Eco System Innovation, Infosys Finacle
Infosys Finacle view Open Banking as a way to drive a paradigm change in a banks’ business and operating models, and not be simply reduced to a mechanism for sharing data across industry players. This session will focus on case studies of financial service providers of different sizes from across the globe. It will explore how they are utilizing Open Banking to enable improved services to customers in saving, borrowing, investing and generally managing their finances.
- The shift Open Banking will engender in the financial services industry and individual business models
- Adapting the operating model to best leverage opportunities available
- Changes and improvements to customer experience - use case examples
Rajashekara V MaiyaGlobal Head of Business Consulting & Eco System Innovation
10:10 am - 10:40 am Morning Tea
Interactive Group Discussions: Two 30 minute rotations between a choice of three discussion tables.
11:40 am - 12:10 pm ANZ Strategies For Effective Management Customer Data In The Open Banking EcosystemNigel Dobson - Banking Services Business Domain Lead, ANZ
Open Banking will signal a need to successfully handle and utilise increased amounts of consumer data. In order for this to happen, each organization must first address how they handle their current internal data. With internal work in place, adding another layer of data through Open Banking will be manageable and will ultimately positively impact both the organization and the consumer. In this session, Nigel will share with you:
- The ANZ perspective on Open Banking as an innovation opportunity rather than a regulatory compliance protocol
- Data integration - ensuring data quality and alignment in the age of responsible banking and lending
- Thoughts on delivering compelling and relevant customer propositions in the post-Open Banking environment
Nigel DobsonBanking Services Business Domain Lead
12:10 pm - 12:40 pm How The Transformative Power of Open Data Is Being Realised and Leveraged Around The WorldJamie Leach - CEO, Open Data Australia
Open Data can be seen as a threat, allowing increased competition into your industry. However, open data can and, according to Open Data Australia, should be seen as an opportunity. As a powerful resource for innovation and optimization, such data is already being successfully utilized around the world to further business outcomes. This session will provide comparison from a global perspective of different legislations and will examine how exactly global players are positioning themselves to maximize on this data.
- Case studies: Where is open data being used around the world and how
- Opportunities: the power of data
- Legislative comparisons and the resultant effects on industry
- Examples from a banking capability point of view
Open Data Australia
12:40 pm - 1:40 pm Lunch Break
1:40 pm - 2:10 pm PANEL: New data pools, new opportunities - what will Open Banking and Open Data mean to smaller financial institutions and other industries?Stuart Stoyan - CEO, MoneyPlace
Gary Cobain - CEO, Pokitpal
Tommy Mermelshtayn - Chief Strategy Officer, Zip Co Limited
Tony Ohlsson - Chief Analytics Officer, Volt Bank
Jonas Christensen - Head of Analytics and Customer Banking, ME Bank
Christiane Gillespie-Jones - Director, Program Management, Communications Alliance
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
Tommy MermelshtaynChief Strategy Officer
Zip Co Limited
Tony OhlssonChief Analytics Officer
Jonas ChristensenHead of Analytics and Customer Banking
Christiane Gillespie-JonesDirector, Program Management
2:10 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 - 3:40 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
3:40 pm - 4:10 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
4:10 pm - 4:40 pm RACQ Bank: Flipping The Focus - What Are The OB Complexities, Problems and Wins for the customer?Michelle Bagnall - CEO, RACQ Bank
One of Australia’s most trusted brands, RACQ is a member-owned organisation and, in 2017, became the first motoring club in the world to own a bank. Always looking from the member perspective first, we delve into the good, the bad and the ugly of Open Banking for them. Open access to data will enable institutions to demonstrate increased competency when providing services, leading to benefits for both the customer and business – providing we get the execution right! How smaller financial services providers can create a point of difference from large banks will be discussed, along with the opportunities to enhance the customer experience.
- Execution is key – will the industry get it right in Australia?
- Opportunities for smaller institutions from Open Banking
- What Open Banking means for the customer
- What are the member-driven solutions this will enable
- Customer Data Right and building awareness around this concept
- Partnerships and the role of FinTechs
4:40 pm - 5:10 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