Fintech Impact

Jason talks to Steve Boms, executive director of the Financial Data and Technology Association, a.k.a. FDATA. FDATA is a global trade association started in 2013 - 2014 in the UK. Episode Highlights:05.38: Steve says, you don’t need to understand the mechanism of how electricity is traveling from the power plant through the transformer into your house. Similarly, we have to think about open banking. But you need to know what happens if something goes wrong.07.52: Open banking is all about competition, and it is all about a more inclusive, more accessible financial services system that meets you as the consumer where you are rather than it being dictated to you by a large financial institution. 17.45: Steve says you can let the industry figure out the standard and the technology to make it work. And this is how the third-party bank gets approved to play in the sandbox. 18.31: Home automation is nowhere near what it could be because you have to worry about these things, says Jason.19.25: If you talk t