Open Banking

Four years ago, policymakers in the UK and EU took the first steps to enshrine open banking into law, but now we’re at a turning point for digital adoption and the old ways of working aren’t working anymore.

Four years ago, policymakers in the UK and EU took the first steps to enshrine open banking into law, but now we’re at a turning point for digital adoption and the old ways of working aren’t working anymore.

The 13th January 2020 marked two years to the day since the introduction of the Open Banking initiative in the UK, so what progress have we seen?

While I was COO at Revolut, Vlad Yatsenko - the company’s Co-Founder & CTO - commented a number of times about how opportunity cost of time is typically the biggest cost in a scaling company, and I’ve come to realise this is more and more true.

The US fintech scene is moving like a bat out of hell. But experts have pointed out it was pretty late to the party.

COP26 is over. But the climate emergency is still with us. The headlines might say otherwise but I got the feeling that very little progress was made on climate change. This is taken from our Unfiltered newsletter. Subscribe now for a no BS, uncensored analysis of fintech news and hot topics delivered to your inbox each fortnight.

This article was originally published in The Paypers’ ‘Open Banking Report 2021: Open Finance and the Race for Relevance and New Business Models in Banking'.

I sat down with our new Chairman, and my long time mentor, Shaun Meadows to chat innovation, being different and why culture is vital for future success.

I’ll be honest when I joined 11:FS I didn’t really expect to end up in West Africa. But on reflection, that was pretty short-sighted. We create truly digital ventures for the good of people everywhere, and we mean everywhere.

Back at the end of 2019, we dived into the perfect fintech storm that was brewing in the Middle East. Diversification had already started in the region, but financial inclusion was reluctant to follow. So where are we now? It’s 2020, and things have been hotting up in the region with opportunities continuing to surface. But what does the region hold for fintech and why is the Middle East where the real gold lies?

A popular topic among commentators and the media, incumbents have been slow to act on open banking. A recent Tink survey shed further light on the issues.

Challengers going mainstream, infrastructure, wealth management for the masses and a bunch more in predictions for what 2020 holds for fintech and financial services.

TL;DR: More closures are coming, Libra probably isn’t launching in 2020 (at least not in its current form) and blockchain’s next sleeper hit is already here.

Our 11:FS Tough Mudder team crossed the finish line on a sunny Saturday morning complete with bluebells at their feet and birds chirping in the distance. On the other hand they’d just crawled through something called the ‘Arctic Enema’ so it’s not quite as idyllic as you’d think.

We all know this tale. U.S. Millennials, the nation’s largest living generation, grew up at a time when America faced its biggest economic challenge since the Great Depression.