In this episode
David and Simon are joined by regular Sarah Kocianski, and RFi and Sky News Australia’s Chloe James, who makes her Fintech Insider debut, for this week’s news.
First up, they discuss the pros and cons of “screen-scraping” – do banks only want open banking on their terms and to pick and choose the bits of it they want?; is it right that challengers only get one representative at the Open Banking Initiative- and is Atom really a challenger bank?; and is a CIO title unnecessary? You can’t innovate in a silo, it needs to go company wide, nor can one person or department “own” innovation, that only creates turf wars.
There are also strong views on the ‘culture of harassment’ for women in tech as reported by the New York Times and how sad it is that this culture already permeates an industry that’s so young. The necessity of speaking up to shatter unconscious bias in the industry is paramount.
They also take on Danske Bank’s pocket money app to allow parents the ability to digitise pocket money for their children and have an online overview of what they do with it – could this be a key to improved financial education for children?
The team also reflect on the ‘changing of the guard’ at Tesco Bank as their CEO steps down after 10 years; on MBank putting themselves forward as a template for others as they licence their tech platform, and on Tide’s $14M raise from the same backers as Spotify – can they now live up to their hype of being the “Monzo of business”?
- Sarah Kocianski, Senior Research Analyst Fintech at Business Insider UK
- Chloe James – Group Media Director – RFi Group & Presenter at Sky News Australia
News this week
- Finextra – EBA rejects Commission amendments on screen scraping under PSD2 – Link
- Open Banking – Atom Bank CEO Joins Open Banking Initiative As Challenger Bank Representative – Link
- Finextra – HSBC hires Diana Biggs to lead business model innovation – Link
- Bloomberg – Tesco Bank Says Chief Executive Higgins to Retire Next Year – Link
- Techcrunch – Curve now lets you ‘go back in time’ and switch the card you paid with retroactively – Link
- FinTech Insider News – Poland’s mBank to license tech platform to third party financial institutions – Link
- FinTech Insider News – Danske Bank develops pocket money app – move over Osper / GoHenry – Link
- New York Times – Women in Tech Speak Frankly on Culture of Harassment – Link
- Business Insider – Fintech startup Tide: $14 million boost from Spotify backers Creandum – Link
- Medium – Bag Snatchers, Monzo, and a night of adventure in London. – Link