LIve @ Money 20/20, 2025 - 1033: The Great Debate

Recorded live at Money 20/20 in Las Vegas, Eyal is joined by two guests at the center of the great debate surrounding open banking in the United States: John Court, EVP & General Counsel at the Banking Policy Institute (BPI) and Penny Lee, President & CEO at the Financial Technology Association (FTA). In late 2024, after many years of deliberation, the U.S. Consumer Financial Protection Bureau (CFPB) released the final version of their Personal Financial Data Rights rule, also known as Section 1033. On the day of its release, the rule was immediately challenged in court, marking the beginning of a drama unlike any other in the open banking space. John and Penny represent the two major players on either side of the court case itself, making them uniquely qualified to discuss where American open banking is headed.  Specifically they discuss:How Section 1033 came to beWhat happened the day of its releaseMajor issues in the great debateThe validity of charging for data accessWhere 1033 currently stands

Recorded live at Open Banking Expo Canada in Toronto, Eyal is joined by Saba Shariff, Chief Strategy, Product & Innovation Officer at Symcor, a leading infrastructure provider to the largest Canadian banks. The road to open banking in Canada has been long and difficult. After many years of deliberation and delay, they finally  passed their first open banking regulation in 2024, known as the Consumer-Driven Banking Act. Since then, progress has been stalled by political turmoil. However, with a new prime minister now in place and a renewed focus on nation building, Canada’s 2025 budget announcement aims to take their open banking efforts to the next level. Eyal and Saba discuss the journey of open banking in Canada so far, the approach taken in the Consumer-Driven banking regulation, and what the new budget announcement portends for the near future.Specifically they discuss:A history of open banking in CanadaThe Consumer-Driven Banking ActWhat makes Canada’s approach uniqueThe advantages of being lateBig updates from the 2025 budget

Recorded live at Fintech Americas in Miami, Florida, Eyal is joined by author and advisor Chris Colbert, former Managing Director at the Harvard Innovation Lab and Partner at Digital Fuel Capital. Technological innovation is often a double-edged sword; despite our best intentions, the progress we make often comes with unintended consequences. As open banking and other technological initiatives change the nature of money itself, we must be thoughtful and intentional about the direction of that change, with a particular focus on human values. This episode looks at open banking and technology in general through a philosophical lens, asking how our innovations can help bring us closer to each other and closer to understanding ourselves. Eyal and Chris discuss the negative impact of technology, the role of humanism in designing better systems, and how open banking has a part to play. Specifically they discuss:The three technological pillars of societyModern negative consequencesHow humanism leads to better systems Measures for a successful societyKeeping the human at the center

Recorded live at Fintech Americas in Miami, Florida, Eyal is joined by Matheus Rauber, Senior Advisor and Head of the Open Finance division at the Central Bank of Brazil. Of all the countries that have begun their open banking journeys, few have been as successful as Brazil. Today, their open finance ecosystem supports broad consent-based data sharing (including for insurance and investments), seamless integration with a public real-time payment rail, and a comprehensive trust framework for accreditation and liability. While many are familiar with Brazil's early success in 2021, far fewer know what has happened since then; this conversation revisits Brazil, to see where they are today, four years later. Eyal and Matheus discuss how Brazil achieved their early success, some of the challenges they have faced since, and where they intend to go next in maintaining their coveted position as global leaders. Specifically they discuss:Brazil's road towards open finance Challenges faced along the wayBalancing the market and regulations The critical importance of governanceNext steps for Brazilian open finance

In the final episode recorded live from Money 20/20 in Las Vegas, Nevada, Eyal sits down with leaders from the the three major U.S. core banking providers: Hashim Toussaint, General Manager of Digital & Open Banking at FIS; Chad Killingsworth, Head of Engineering at Jack Henry; and Sunil Sachdev, SVP, Head of Embedded Finance at Fiserv. Among them, these three providers serve not dozens or even hundreds of banks, but thousands, as they enable the long tail of a richly diverse and populous American banking ecosystem. Given their reach, for open banking to succeed in the U.S. the cores will have to embrace it, and throughout this discussion our guests break down exactly how their firms intend to do so. The conversation covers the latest regulatory developments, including the new compliance timeline, the exclusion of smaller banks from regulatory requirements, and how the U.S. cores are ultimately being driven by the real demands of digitally-savvy consumers more than by regulatory mandates. Specifically they discuss:The role of core banking providersThe CFPB rule and compliance timelines Security frameworks and API strategies Smaller banks’ exclusion from regulationThe choice to build vs. buy vs. partner

Recorded live at Money 20/20, 2024 in Las Vegas, Nevada, Eyal is joined by three leading voices from the open banking community whom he knows rather well: Michelle Beyo, CEO & Founder of Finavator; David Birch, Author, Advisor and Principal at 15Mb; and Don Cardinal, Senior Vice President at the Financial Data Exchange. Together, they examine how open banking is taking shape across Canada, the United Kingdom, and the United States, offering insights informed by their respective regions. Between them, they provide a global perspective on the evolution of open banking, not only based on activity in different regions, but across the three main pillars of open banking infrastructure: data sharing, real-time payments, and digital identity. David delves into the UK's early open banking implementation, Don explores the U.S.’ market-driven approach to open finance, and Michelle shares her advocacy for a human-rights-based view of data ownership. From universal data rights to the rise of digital wallets, this conversation provides a comprehensive look at where the open banking standard is today and where it is headed. Specifically they discuss:Global approaches to open banking The significance of data rightsReal-time payments and digital walletsHow digital identity plays a crucial roleThe future of open banking in the US

Recorded live at Money 20/20, 2024 in Las Vegas, Nevada, Eyal is joined by the open banking leads from three major US aggregators: John Pitts, Head of Policy at Plaid; Jane Barratt, Chief Advocacy Officer at MX; and Anil Mahalaha, Chief Evangelist at Akoya. Aggregators, sometimes called data access networks, provide third parties with connectivity to a wide range of banks. In the US in particular, they are uniquely crucial, having built out an early form of open banking over the past few decades. As the region moves towards standardization and regulation, they will continue to play a pivotal role. Together, Eyal and his guests discuss the continued implications of the CFPB’s final ruling on Personal Financial Data Rights, the evolving role of aggregators, and the impact of API-driven connectivity. The conversation explores whether regulation is truly necessary, how it will shape the competitive landscape, and what’s next for the future of financial data access in America.  Specifically they discuss:CFPB’s Personal Financial Data Rights RuleThe role of aggregators in the U.S.The transition from screen scraping to APIsPerspectives on secondary data useThe commercialization of data access

Does the United States have open banking? Well, that depends on how it’s defined. If that definition is less about regulation and more about the adoption of a common technical standard for the secure exchange of financial data, then the U.S. is considerably further along. Much of this progress is due to the Financial Data Exchange (FDX), a private non-profit founded in 2018 to unite players across financial services in creating a common standard for consent-driven data sharing. For the final, extra-length episode of Season 5, Kevin Feltes, the new CEO of FDX, joins us to discuss the state of American open banking amidst the regulatory changes unfolding under Section 1033. Eyal and Kevin sit down to talk about all things FDX, sharing the organization’s origins, what’s in the FDX tool belt to help it punch above its weight, and what it means for FDX to operate at the intersection of regulatory and market forces. Diving into possible futures, they unpack how flexibility is the key to ensuring American open banking continues to grow and thrive. Specifically they discuss:The origins of the Financial Data ExchangeHow the FDX API is member-drivenThe impact of Section 1033 regulationBalancing market and regulatory forcesThe role FDX plays in U.S. open banking

Open banking aims to revolutionize data sharing by giving individuals full control over their data - deciding who can access it, for what purpose, and for how long. Instead of personal data being locked in silos and exchanged without consent by an opaque and precious few, this shift empowers people to gain value from their data for themselves, using it, trading it and protecting it as they see fit, while engaging in the data sharing economy. In this episode, Eyal dives into these possibilities with fintech visionary Ghela Boskovich, Head of FData Europe and founder of FemTech Global. By putting control back into the hands of individuals, Ghela envisions a future where consumers can derive personal economic benefits by deciding how, and with whom, their data is shared. They explore the foundational keystones of this economy, the varying approaches nations are taking to implement it, and the transformative potential of a more equitable digital landscape. Specifically they discuss:Data as a renewable resourceConcentration of data in few handsKeystones of the data sharing economyGlobal regulations and perspectives  A more just approach to training AI

Underlying open banking is an important assumption: That if you give the consumer all the information about what data is held on them and all the control over how that data is shared, that they will be better off. That they will use that information and control to make better decisions, decisions that benefit them. But is that actually so? Behavioral economics says that perhaps the answer is no. Rising to prominence in the late nineties and two-thousands, behavioural economics challenges the idea that people always behave rationally. For those building open banking environments aimed at truly helping consumers make better decisions about their money and their data, its lessons are invaluable. In this episode, Eyal sits down with renowned behavioural economist Dan Ariely, a professor, scientist and best-selling author, to discuss the roots of behavioral economics, the role of paternalism, and how friction and motivation can be applied to building better financial services.Specifically they discuss: Understanding behavioural economicsVisible money vs. invisible moneyUsing friction and motivationPaternalism and responsibilityBuilding environments that benefit us