Open Banking Sherpa: See if your business could benefit from open banking

Many of us have read news articles about how open banking will change payments, financial management, etc. But whenever I asked for examples beyond seeing my bank accounts in one place, I heard... (you guessed it, crickets). So I went digging, came out dusty but with a map of the areas these new open banking capabilities can influence. Whatever the industry, open banking affects 3 areas: Payments Account to Account (A2A) payments are a faster, cheaper, more secure alternative to credit card payments option for merchants. Death of credit cards? Maybe. LeoVegas-mobile casino and sports betting-is already changing payment experiences with this. Data enrichment Innovators are analysing data from multiple accounts aggregated through open banking and doing crazy things: Credit Kudos is revolutionising credit scoring, Obligo is taking away the need for renters to sell off their left leg to pay a deposit before securing an apartment. Numbrs is combing through accounts to detect overpriced loans, bills and recommending better ones. Process efficiency (customer experience) The ability to aggregate data automatically is being used to reduce manual steps when onboarding new users, automated tax filing data uploads (untied tax app has built their pricing tiers on this), automated corporate payouts and account reconciliation, etc. The areas of impact They go beyond the fintech/finance bubble and that's what our mission is. Show people in other industries what's possible with open banking capabilities and guide them through implementing open banking without them googling their fingers to illegal-gold-miner level exhaustion. As usual, feedback/insight from your is appreciated.