What The FinTech: Delving into the Future of Open Banking with Jessica Liu and Ankit Suri
In this enlightening episode, we dive deep into the realm of open banking, thanks to insights from Jessica Liu and Ankit Suri, the innovative co-founders of Planto. As the Hong Kong Monetary Authority (HKMA) embarks on its pilot programme for the Interbank Account Data Sharing (IADS) initiative, we unravel the layers of what this means for the banking ecosystem.
The IADS initiative, spearheaded by the HKMA’s Fintech Facilitation Office (FFO) in partnership with the Hong Kong Association of Banks, intends to empower customers to securely and efficiently share their bank account data across different banks, always contingent upon customer consent. A recent preliminary study illuminates the potential of this initiative: from digitalizing banking operations and fortifying banks' risk management to elevating the overall customer experience. By establishing concrete rules and standards, the foundation for the IADS initiative is now solidified. With the pilot programme, the focus shifts to understanding the practical aspects of implementing this transformative banking shift.
In our conversation, Jessica and Ankit enlighten us on a range of topics, such as:
As we embark on a new chapter in the banking narrative, join us in understanding the revolution ahead, directly from the pioneers who are shaping it.
🎙️ Interviewees: Jessica Liu and Ankit Suri 🎙️ Host: Medhy Souidi 🎯✉️ Sign up for my weekly newsletter: LinkedIn: https://www.linkedin.com/newsletters/what-the-fintech-6672825335119273985