Do Over – open banking needs a reset

In this episode, Lindsey Rogerson is joined by Elizabeth Lumley to discuss what is happening with open banking and open finance in the UK, EU and elsewhere. The UK used to be a global leader in open banking but with even the chief executive of the Financial Conduct Authority (FCA) saying recently that the country is falling behind the likes of Brazil and India we take a look at what can be done to course correct.  We discuss what went wrong and what is needed, from government, regulators and incumbent banks to get things moving again and what we could learn from India and Brazil in particular.The discussion then turns to how regulators can better nurture the start-up and be more sympathetic to requests to explain what and how regulation will impact their businesses. And why every start-up needs a good lawyer. LinksOpen banking’s promise has yet to deliverThe Centre for Finance, Innovation and Technology’s blueprint for open financeHM Treasury list of promises from Financial Conduct Authority