Let’s start with the basics. In your own words—what is Open Finance?
At its core, Open Finance is about giving people full control over their financial data. So whether it’s your salary, insurance, investments, or loans—you can choose to share that securely with third-party apps or services that can help you.
For example, a tax app could automatically optimize your returns by securely pulling in data from your payroll, investment platforms, and insurance policies. Open Finance goes beyond just data sharing; it enables smarter budgeting tools, custom-tailored insurance offers, and hyper-personalized financial advice—all based on your complete financial picture.
How’s that different from Open Banking?
Open Banking is a subset of the broader Open Finance movement. It allows you to share your core banking data, like account balances, transactions, and payment history, with regulated third-party apps to enable services like budgeting tools or account aggregation.
Open Finance takes it a step further. It includes everything else in your financial world—your pension, investments, insurance, mortgage, and more. While Open Banking is about what’s in your bank account, Open Finance is about your entire financial life.
And how does that help people manage their money day-to-day?
Open Banking—and by extension, Open Finance—helps people take control of their money without the hassle. Instead of logging into five different banking apps, you just use one. You see all your accounts in one view, make payments, track spending—even keep an eye on your credit score, safely and instantly.
It also empowers smarter financial decisions. Say you’re wondering why your loan got rejected—Open Banking can give you insight into your credit behaviour, and more importantly, show you what you can do about it.
By connecting the dots across your financial life, Open Finance helps turn raw data into practical, day-to-day value—making money management not only easier but more insightful.
There’s a lot of talk about Open Finance helping with financial inclusion too. How does that work?
A lot of people get denied credit not because they’re bad with money, but because they don’t have a “complete enough” file. With Open Finance, individuals can securely share real-time financial data—like consistent income streams, responsible spending patterns, or timely bill payments—directly from their bank and financial accounts. This gives lenders a richer, more accurate picture of financial behavior, beyond just a credit score.
That means fewer rejections, faster approvals, and better chances for people with thin credit files to build a stronger profile over time.
From a bank’s perspective—what’s the opportunity here?
Open Finance helps banks stay relevant in a fast-changing financial landscape. By tapping into real-time data and collaborating with fintechs, they can deliver more personalized experiences—like tailored savings goals, spending insights, or proactive financial advice.
It also unlocks new business models through API monetization, allowing banks to generate revenue while staying secure and compliant. More than just a tech shift, it’s a strategic one: positioning banks as trusted financial partners embedded in their customers’ daily lives—not just service providers.
Ultimately, Open Finance isn’t just about compliance—it’s about creating better products, deeper engagement, and long-term loyalty in a digital-first world.
So what do you think next-gen banking will look like?
Next-generation banking will be deeply personalized, proactive—and almost invisible. Powered by Open Finance and broader Open Data ecosystems, financial services will increasingly operate in the background of our lives, surfacing only when we need them.
Take insurance, for example—no more forms or uploading files. You could securely share your health records and ID, and get a quote tailored exactly to your profile, instantly.
That same level of automation and smart decision-making will apply to loans, savings, investments, and more… Banking won’t just respond to your needs, it’ll anticipate them.
What’s something you’re really excited about?
There’s a lot to be excited about! First, instant payments. With tools like Paylib in France or Wero Wallet in Benelux, we’re getting close to a world where paying someone is as quick as scanning a QR code.
Then there’s AI. Imagine not just seeing your credit score, but getting smart suggestions on how to improve it—or help if you’re falling behind on bills.
And perhaps most exciting of all: true cross-border financial interoperability. The ability to view and manage your finances across countries, institutions, and currencies from a single app—that’s a game changer.
You work on SBP Open Banking. What does that platform actually do?
SBP Open Banking helps banks launch secure, compliant Open Banking services fast. We offer ready-to-use APIs aligned with PSD2, plus tools like the Wero Wallet for instant payments and digital identity.
What makes us different is flexibility—banks can tailor user journeys without extra dev costs. We also team up with fintechs like Plaid, Tink, and Algoan to bring in services like credit scoring and financial insights.
As Product Manager, I make sure the platform stays secure, modular, and ready for what’s next—so banks can innovate with confidence.
Any standout projects you’ve worked on?
One standout project has been our work on helping U.S. banks prepare for Section 1033 of the Dodd-Frank Act, as outlined by the CFPB. We built a pre-configured, turnkey Open Banking solution based on FDX standards, enabling banks to stay compliant while accelerating their data-sharing capabilities. What typically takes months to build, we delivered as a ready-to-deploy package—simplifying both implementation and regulatory adherence.
Another exciting focus right now is the Wero Wallet initiative. It’s fast-paced and high-stakes—banks expect rapid adoption, and the competitive landscape is moving quickly. We’re working closely with our partners to deliver secure, scalable MVPs that can support real-time payments and digital identity, all while staying ahead of market expectations.
What are the trickiest challenges in Open Finance?
One of the trickiest challenges in Open Finance is managing security and consent with precision. Just because a user consents to share access to their savings account doesn’t mean their entire financial footprint—like investments or pensions—should be exposed. We need to ensure data sharing is granular, contextual, and user-controlled, so individuals remain in charge of what’s shared, with whom, and for how long.
The second major challenge is compliance. Regulatory frameworks like PSD3, FAPI, FIPS, and PCI DSS are constantly evolving, and staying ahead of them is critical. But compliance isn’t just a box to tick—it’s a competitive advantage. Building fast is important, but building secure and trusted solutions is what sets you apart.
And how do you keep up with everything going on in the industry?
I stay involved in groups like Open Banking Exchange, the Berlin Group, EPI, and FDX in North America. These communities are where the next trends and standards are discussed. I also keep up with trusted sources like Finextra, Moneycontrol, and fintech media to track trends, market sentiment, and real-world use cases.
Being part of these ecosystems allows me to anticipate change and shape solutions that are not only compliant and secure, but also aligned with where the industry is heading. It’s about building for what’s next—not just solving for what’s now.