EP 112 - THE EVOLUTION OF OPEN BANKING IN THE UK WITH CHARLOTTE CROSSWELL OBE AND HENK VAN HULLE
In this episode, the 2 D's are joined by 2 special guests to discuss the evolution of open banking, specifically the role of data sharing in financial services. Charlotte Crosswell, chair of the Centre for Finance, Innovation and Technology (CFIT), and Henk Van Hulle, CEO of Open Banking Limited, explain how open banking enables access to data from multiple banks, creating richer profiles for consumers and small businesses (SMEs). They highlight the potential benefits of this data sharing, including improved loan applications, better cash flow management, and greater financial inclusion. Charlotte and Henk also discuss the challenges of securing data and navigating the complexity of consent and permissions in a multi-sectoral environment. The episode ends with a forward-looking discussion on the future of open banking and the role of smart data in shaping the financial services landscape. The Taskforce Report mentioned by Charlotte can be downloaded here: https://cfit.org.uk/wp-content/uploads/2024/08/CFIT-SME-Finance-Taskforce-Smart-Data-Unlock-SME-Lending-Aug-2024.pdf