Open Banking: Global State-of-the-Union
summary
Global open banking platforms jump from 197 to 293 platforms (50% growth) between Q1 and Q2 2020, driven by mandated APIs for accounts and payments APIs leading adoption; notable regulatory moves include live Australia CDR (July 1), UK OBIE app store, Mexico issuing its first fintech license, Brazil publishing an aggressive timeline, and the U.S. CFPB invoking Section 1033 for consumer-authorized data access. Big acquisitions reshuffle the field: Visa/Plaid $5.3B, Intuit/Credit Karma $7.1B, Mastercard/Finicity $825M, and major consolidation among open-banking specialists like Tink.
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chapters (15)
- 0:00Introduction
- 1:04Speaker introduction and career transition to open banking
- 2:30Open banking defined
- 5:15Banking platforms in 2020
- 8:49Regulation impact worldwide
- 12:18Regulation goals
- 15:25Standards beyond regulation
- 16:05Top 5 open banking acquisitions
- 19:342020 milestones and innovations
- 22:01Brazil market dynamics
- 23:23Brazil regulation and Wirecard
- 24:47COVID-19 relief via open banking
- 25:28Canada’s slow progress
- 26:34Open banking future
- 27:36Q&A
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