Money Isn't Everything
Money isn’t Everything explores the many ways fintech is changing what it means to be a bank or credit union. Host Mary Wisniewski, Cornerstone's editor-at-large and long-time fintech reporter, interviews early-stage startups, academics, and creative fintech thinkers, on how they're rewriting financial services. Listen every other Thursday morning. Expect laughter.
Money Isn't Everything
The Great API Debate: Should Banks Charge for Access? with Huw Davies
JPMorgan Chase lit a fire under the fintech world. The biggest U.S. bank says it wants to start charging aggregators for API access, which are the pipes that connect fintech apps to customers’ bank account data.
Some call it a smart business move. Others say it’s a threat to open banking. So, who’s right?
Today on the show: Mary talks with Huw Davies, co-founder and chief executive at open finance company Ozone API, about what this shift could mean for banks, fintech firms and the rest of the industry. From pricing models to global lessons, Huw weighs into the money, the timing and the soap opera of U.S. banking regulation. Plus, they explore what many are not talking about right now: how banks are some of the biggest users of the technology.
Show notes:
Chapters:
[00:00] Welcome & API Soap Opera Setup
[00:41] Meet Huw Davies: Ozone API & Global Banking Lens
[01:27] JP Morgan’s Bold Move to Charge Aggregators
[03:06] Who Owns the Data? Industry Reactions & Murky Debates
[05:02] API Monetization: A Bank’s Right or Overreach?
[08:06] Pricing Models & Global Regulatory Lessons
[13:13] Open Banking Blueprints: UK, UAE, and India Compared
[19:47] Monetization Use Cases: Identity, Payments, Embedded Lending
[24:00] What Should U.S. Banks Do Now? Strategic Advice Amid Confusion
[28:15] Wrap-Up: Contact Huw & Lock Screen Fun
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