While the focus for Open Banking is heavily on preparing technological capabilities and identifying the best use cases to create new products, Volt Bank have acknowledged that it is first crucial to address the ethical quandary of sharing customer data. This involves ensuring privacy when sharing data through APIs as well as simultaneously looking to improve customer awareness around how and why their data will be used.
Strategies for building customer education and awareness around Open Banking
Transparency when handling customer data: the dangers of not addressing this
Volt’s ethical policies and governance around Open Banking
Open Banking is set to impact financial institutions at different stages of legislation. Though the larger banks will be impacted first, smaller and medium sized banks will be able to learn from the first stages of implementation and ready themselves to best leverage the opportunities for growth and innovation from Open Banking. In this discussion leaders in the space will share their thoughts on ambitions and plans.
Opportunities and value to be leveraged from Open Banking
Future state– where we want to get to and what our timeframes are
Structural and security considerations of preparing for OB
Opportunities for partnerships with other banks and third parties
Challenges, both current and anticipated and solutions to them
Check out the incredible speaker line-up to see who will be joining Dominic.
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