Money20/20: Say hello to Open Banking 2.0

A reinvigorated Money 20/20 has come and gone and after a week in Amsterdam, it is clear that open banking has now ascended as a major theme of the future of financial services. Powering the shift fro
2 min

Quick summary

Addressing conversion, transactional costs, time-to-market, overall complexity and who does what in the industry were among the key discussions had.

What was surprising for many to hear was that due to Neonomics unifying the SCA process, our conversion rate is between 30-40% higher than the numbers posted by our competitors and 13% higher than recent reports on card payments conversion with SCA. – Christoffer Andvig, CEO of Neonomics

With AIS and PIS calls growing steadily, the industry is starting to see points of differentiation that may have been more difficult to see prior to the pandemic. There is a technical disparity in the quality of the open banking tech stacks that are out there and as more stakeholders invest and leverage services in the space this differentiation will become increasingly evident. – Elise Kirkhus, COO of Neonomics.

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