Latest opinions that Helen Child has shared on Finextra

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Helen Child

Founder

Open Banking Excellence

Member since

14 Oct 2022

Location

London

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Helen's opinions

Data is the fuel that will drive AI & Open Finance growth

Artificial intelligence will have a seismic effect on financial services. McKinsey has predicted that AI could deliver a “value-creation opportunity of up to $20 trillion” for banks each year. Accenture also argued that 90% of all working hours in the banking industry will be “impacted” by large language models such as ChatGPT and predicted that ...

08 December 2023 /payments Artificial Intelligence and Financial Services

Cutting through the complexity: How to prepare for PSD3

The PSD2 was a truly historic piece of legislation that laid the foundations for a paradigm shift in financial services. The blockbuster Payment Services Directive 2 planted the seeds for Europe’s thriving Open Banking ecosystem. Now we’re awaiting a sequel. When the PSD3 comes into force at some point in the next five years, it will unlock vast n...

24 November 2023 /payments /regulation Open Banking

Let’s conquer our fear of Digital ID and unlock the opportunity

The UK is at the forefront of financial innovation. We created a blueprint for Open Banking. Our data regime is one of the most progressive in the world. Yet we are still missing one crucial part of the puzzle: a universally accepted method of digital identification. Our lack of a digital ID is bad news for consumers and businesses alike. In finan...

04 October 2023 /security /payments Open Banking

School’s out! Open Banking gets an A* report but there’s more work to do next term

2023 will go down as a big year for the UK’s open economy. We’ve seen the reinvigoration of Open Banking through the timely Joint Regulatory Oversight Committee (JROC) report, coupled with progress on reforming the credit information market and the Data Protection and Digital Information Bill that ultimately paves the way for Open Finance. At the ...

01 August 2023 /payments Open Banking

Open Banking data will revolutionise the lending sector

Credit is nearly as old as human civilisation itself. Moneylenders operated more than 5,000 years ago in ancient Samaria, and the Babylonian Code of Hammurabi saw the world’s first regulator capping interest at 33% and decreeing a debtor could “wash their debt in water” – literally wiping the slate clean. But lending has been slow to move with the...

13 July 2023 /payments Open Banking

The Consumer Duty: Are You Prepared For the New Era of Financial Services?

The countdown to the Consumer Duty is well underway, with the new regulation aiming to usher in a golden age for customers across the UK. The FCA says its rules will set higher and clearer standards of consumer protection across financial services. They will require firms to put customers’ needs first, focusing on four key areas: products and servi...

01 June 2023 /people Open Banking

VRPs: Can JROC unlock the potential of Variable Recurring Payments?

What a start to spring it’s been. We’ve had a hugely successful UK FinTech Week, as well as the Innovate Finance Global Summit 2023 at the stunning Guildhall in the City of London. One hot talking point has been the much-awaited update from the Joint Regulatory Oversight Committee (JROC). It has now laid out its thinking on the next phase for Open ...

12 May 2023 /payments /regulation Open Banking

The UK will lose its global leadership position in Open Banking without major progress this year

Last week, we released a piece of research - The Global Open Finance Index. It makes for tough reading for those of us who passionately believe that the UK’s status as a global leader in Open Banking is a major strategic asset. No matter how you look at the data, the report paints a picture of a first mover, that gave the participants in its ecosys...

31 January 2023 /payments /inclusion Open Banking