Open Banking & Identity: In the 25th-anniversary episode of PayTechTalk, I had the great honor to talk to none other than the world-famous author, advisor, and commentator on digital financial services, Mr. Dave Birch.
Open Banking – will it do harm or further competition?
Dave gave us interesting insights into his experiences with open banking and why the asymmetric playing field that it creates may harm rather than further competition. Will GAFA & BAT take over the world or will open banking give hope to the rest of us to catch up with the BigTechs?
Identity is the new money!
Dave has not only written a mind-blowing book with this title, he is an absolute genius when it comes to identity. We briefly discussed the 2FA approach of the PSD2 respectively the EBA and found that the framework is far from providing a 2FA solution that would satisfy the interests of the market. As there is no standard approach, we discussed as to whether merchants are forced to ignore the 2FA obligation and simply take the risk (is there any significant risk that modern technologies cannot reduce to a minimum?)? Is this legally possible, if so, how? Could new technologies improve the identification and authentication experience and still provide top of the notch security?
Dave Birch wouldn’t be Dave Birch if he didn’t have answers to these questions. He gave us profound insights on what the new technologies are capable of and how the identification and authentication process of the future could look like.
Enough intro! Please sit back relax and enjoy our anniversary episode of PayTechTalk.
About Dave Birch
Dave Birch, Author, advisor and commentator, Consult Hyperion
David G.W Birch is an author, advisor and commentator on digital financial services. He is a Global Ambassador at Consult Hyperion (the secure electronic transactions consultancy that he helped to found), Technology Fellow at the Centre for the Study of Financial Innovation (the London-based think tank), a Visiting Professor at the University of Surrey Business School and holds a number of board-level advisory roles. Before helping to found Consult Hyperion (one of the very first companies on the Surrey University Business Park) in 1986, he spent several years working as a consultant in Europe, the Far East and North America. He graduated from the University of Southampton with a B.Sc (Hons.) in Physics.
Dave was named one of the global top 15 favourite sources of business information (Wired magazine) and one of the top ten most influential voices in banking (Financial Brand); created one of the top 25 “must read’ financial IT blogs; was found to be one of the top ten Twitter accounts followed by innovators, along with Bill Gates and Richard Branson (PR Daily); was ranked in the top three most influential people in London’s FinTech community (City A.M.), was voted one of the European “Top 40” people in digital financial services (Financial News), was listed of the world’s top 100 most influential FinTech leaders (Hot Topics) and rated Europe’s most influential commentator on emerging payments (Total Payments).
Described at the Oxford Internet Institute as “one of Britain’s most acute observers of the internet and social networks”, in The Telegraph as “one of the world’s leading experts on digital money”, in The Independent as a „grade-A geek“, and by the Centre for the Study of Financial Innovation as „one of the most user-friendly of the UK’s uber-techies“ and in Financial World as „mad“, he has lectured to MBA level on the impact of new information and communications technologies. A member of the editorial board for Payments & Fintech Lawyer, he has contributed to publications ranging from the Parliamentary IT Review to The Financial Times and wrote a column in The Guardian for many years. A media commentator on electronic business issues, he has appeared on BBC television and radio, Sky and other channels around the world.
His most recent book “Before Babylon, Beyond Bitcoin: From money we understand to money that understands us” was published in June 2017 with a foreword by Andrew Haldane, Chief Economist at the Bank of England. The London Review of Books called his 2014 book “Identity is the New Money” fresh, original, wide-ranging and “the best book on general issues around new forms of money“.
Titelbild / Cover picture: Copyright © PayTechLaw & Dave G. Birch