S1 Episode 9: The Future of Open Banking with James Varga

09/08/19 • 29 min

In Episode 9 we speak with James Varga, who co-founded The ID Co in 2011 with a mission to create convenience allowing consumers to sign up to new products and services in seconds.

He is active in a number of local and global efforts to help people do more online, including the Fintech Delivery Panel, the Open Banking Excellence where he is Co-founder and Trust In Digital Life.

As one of the first to call for Open Banking in the UK, James has a wealth of experience in this space. Having previously built a personal finance management and aggregation service, he has a unique perspective that highlights the importance of customer convenience in the overall success and adoption of Open Banking.
Among other things we discussed:

What is Open Banking?
Applications for Open Banking
The identity challenges
Matching the right person to the right product
GDPR and Open Banking
Data ownership is key
2018 - the year of regulated disruption
Giving the consumer back control
Why has Open Banking been slow to take off?
Is Open Banking good for banks?
The real opportunity for Open Banking
What's the Open Banking silver bullet?
Account aggregation is just the start
Using data for customer onboarding
Consumer behavioural change
The balance between convenience and reward
Banks are bad at using data
Being a B2C Fintech isn't easy
Monzo's IFTTT integration
Consumer data ownership is key
We need to give consumers an incentive to use Open Banking
Instant loans - 45% revenue increase & 7% fraud reduction
The Australian Open Banking scene
The open data approach is a risk
Getting the regulators involved
3 things for next week

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In Episode 9 we speak with James Varga, who co-founded The ID Co in 2011 with a mission to create convenience allowing consumers to sign up to new products and services in seconds.

He is active in a number of local and global efforts to help people do more online, including the Fintech Delivery Panel, the Open Banking Excellence where he is Co-founder and Trust In Digital Life.

What is Open Banking?
Applications for Open Banking
The identity challenges
Matching the right person to the right product
GDPR and Open Banking
Data ownership is key
2018 - the year of regulated disruption
Giving the consumer back control
Why has Open Banking been slow to take off?
Is Open Banking good for banks?
The real opportunity for Open Banking
What's the Open Banking silver bullet?
Account aggregation is just the start
Using data for customer onboarding
Consumer behavioural change
The balance between convenience and reward
Banks are bad at using data
Being a B2C Fintech isn't easy
Monzo's IFTTT integration
Consumer data ownership is key
We need to give consumers an incentive to use Open Banking
Instant loans - 45% revenue increase & 7% fraud reduction
The Australian Open Banking scene
The open data approach is a risk
Getting the regulators involved
3 things for next week

Previous Episode

S1 Episode 8: The Future of People Management with Dr Lynn Gribble

In Episode 8 we speak with Dr. Lynn Gribble, who is one of Australia’s founding coaches, an accidental academic and an award-winning author and university lecturer.
She’s known as a digital innovator for her work in technology-enabled academia and she calls herself a “pragmatic futurist coach”. She also helps people to “future proof” their careers in an ever-evolving workplace.
We spoke with Lynn from Sydney, Australia where she lives and works.
We discussed a range of topics relevant to companies of any size including:

The future of work is about relationships
Do people want to be managed in the digital age?
Managing the circumstances not the people
Soft vs disciplinary skills
We need people to connect people
What we can't teach AI to do is make a human connection
People are the only truly sustainable competitive advantage
What is the future of work?
People need to be agile and take ownership of their skills development
Flexibility is the key in the gig economy
The serviced office of the future
The one piece of technology that will drive fundamental change
The digital agent
Home robots are the hardest workers
The receptionist of the future
The stigma of retrenchment
Managing Millennials
What ice skating can teach you
What organisations get wrong
If you punish risk you will get no innovation
Are we addressing ethics in business?
The link between risk and ethics
What 3 things can you do next week?
1. Build relationships not networks
2. Take a small risk & do something new
3. How can I be kinder & more connected to colleagues?

Next Episode

S1 Episode 10: The Future of Data with Lauren Walker

In Episode 10 of the Actionable Futurist® Podcast we speak with Lauren Walker, who at the time of recording was the Chief Operating & Data Officer in EMEA for leading agency Dentsu Aegis. She is now Managing Director at Accenture Interactive.

Lauren joined Dentsu in 2017 from IBM and lead a team of more than 600 people across operations, market research, social science, digital and data science, and engineering. In May 2021 she moved to be Managing Director at Accenture Interactive.

Prior to these roles, she spent a decade at IBM with a raft of senior roles - most recently head of data strategy partnerships for Europe.

Lauren was also director of competitive strategy at Choicepoint, now part of LexisNexis, and spent two years as a special advisor to the Director of the White House in Washington DC.
In this fascinating podcast, we covered the world of data and looked at what's next.
Disclaimer: Lauren's comments are her own and not that of her previous or current employer.
Connect with Lauren on LinkedIn
Follow Lauren on Twitter

Digitally Curious - S1 Episode 9: The Future of Open Banking with James Varga

Transcript

Intro00:00:03.410

Welcome to the Practical Futurist Podcast, a bi-weekly show all about the near term future with practical advice from a range of global experts to help you stay ahead of the curve. Every episode answers the question, what's the future of ... ? with voices and opinions that need to be heard. Your host is

Intro00:00:24.260

international keynote speaker and Practical Futurist, Andrew Grill .

Andrew Grill<