Following the Market

Mr. Open Banking

What should come first; customer-centric technologies or regulations? In episode two of Mr. Open Banking, Eyal is chatting with Don Cardinal, the Managing Director of the Financial Data Exchange (FDX). Based out of the United States, Don discusses his perspective on the evolution of open banking, led from a customer-centric perspective and the importance of building collective standards when implementing new financial technologies. By the end of this episode, you will understand the term ‘screen scraping,’ why APIs are a better way to move forward, and the need for customer-centric design amongst financial products.

Specifically, Don and Eyal discuss:

Why the term “open banking” isn’t commonly used in the United States;

The importance of API’s to unify financial institutions;

How FDX approaches the idea of a global standard;

The five key principles to follow when developing an effective open banking standard;

Whether or not open banking is simply a set of regulations.

To learn more about Don and his work at FDX, check out the following:

Website: www.financialdataexchange.org

Twitter: https://twitter.com/fdxorg

LinkedIn: https://www.linkedin.com/company/financial-data-exchange/