During our virtual OBE campfire, Chris Michael, Head of Technology at OBIE, shared his thoughts on whether innovation for Open Banking should be regulatory-driven or market-driven, the commercial opportunities and his view on the future state of standards.

What is Open Banking Excellence (OBE)?
Open Banking Excellence (OBE) is the world’s leading community of Open Banking and Open Finance pioneers. It’s an industry ‘campfire’ that brings together FinTechs, banks, industry participants, regulators, BigTech companies and legal advisers to learn, share stories, spark debate and collaborate.

Our mission is to be the authentic voice representing a global movement of like-minded experts who through collaboration provide technical, regulatory and legal insight into Open Banking and Open Finance and their wider implications for a dynamic, innovative and fast-growing financial sector.

We believe Open Finance will help build a better world through financial inclusion, social change and by providing greater control and choice to us all.

Learn more about Open Banking in the United States, and how this shift will change the way millions of consumers interact with financial services and personal financial wellness providers.

Hear our panel of speakers answer the following questions:
– How do you see open banking and open finance evolving?
– What use cases have you seen that work well?
– How do we get to where we should be?
– Privacy and security – how do you balance regulation and commercialisation?
And more…

Speakers:
– Dr.Ruth Wandhöfer, Payments Expert (moderator)
– David Head, Vice President for Open Banking Product Management, Mastercard
– Francesco Simoneschi, Co-Founder and CEO, TrueLayer
– Basak Toprak, EMEA Head of eCommerce Solutions, J.P. Morgan Payments
– Srini Kasturi, Global Head of Instant Payments, Country Products and Innovation, Barclays Corporate Banking

This session will provide a lens to better understand the drivers behind Open Banking, and how those drivers ultimately affects the solution architecture. We will cover the evolution of Open Banking architecture across different regions and markets, and discuss how these differing approaches strike a balance between innovation and standardization, goals which are often treated as competing concerns. As we drill-down on the technology, we will discuss how API gateways and microservices fit into a comprehensive architectural solution, and how the emergence of the service mesh provides a foundation for a future-ready, optimal Open Banking architecture. A real-world case study will describe how Canadian Imperial Bank of Commerce’s (CIBC’s) open source, cloud-native API platform, the API Foundation, realizes this optimal architecture, including the milestones we’ve achieved, and the challenges we face along the way. In conclusion, we will provide a framework for establishing an API-driven business culture focused on speed, innovation and client needs.

EVENT / SPEAKER:
APIdays London 2019 / Eyal Sivan

PUBLICATION PERMISSIONS / ATTRIBUTIONS:
The original video was published with the Creative Commons Attribution license (reuse allowed). Original video: https://www.youtube.com/watch?v=ULHpbFFUZoY

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