The panel on 3 June at Money20/20 Europe isn’t going to settle the regulatory debate. What it will do is force some harder questions about what firms are actually doing to manage open finance risk - not in theory, but in practice.
Before the panel, here’s the Open Finance Risk Readiness Checklist:
- Do you know how many third, fourth and nth party providers are currently accessing your customers’ data - not at onboarding, but right now?
- Regulators govern vertically. Your customers’ data moves horizontally. Does your risk management approach cover all the segments it crosses?
- Are you relying on aggregators to manage the risk of third-party providers in your chain, and have you verified whether they have the ability to do that, and do it continuously?
- Is your third-party risk monitoring continuous, or only point-in-time? If a fintech in your network suffered a breach today, or mis-used data, how quickly would you know?
- Does your risk framework hold if the regulatory framework stalls or fragments?
- Have you mapped the liability chain in your open finance model - including who bears the risk in the parts of the chain you don’t directly control?
- Is your compliance posture the floor or is it the ceiling? The firms moving fastest are building beyond regulatory minimums now.
- Could you answer all seven questions above in a board-level conversation tomorrow? If not, which gaps would you highlight first?
No answers yet - those come on 3 June. Agnieszka Scott, Michael Salmony, Todd Clyde and Louise Beaumont. Horizon Stage. 12:15. Save this checklist. We’ll return to it in the post-event report.
