Melissa Koide

Open Data, Open Banking: Creating a More Competitive Financial Services Ecosystem

Melissa Koide, Gilles Gade, Sima Gandhi, Sahil Kini, Craig Schachter, Rachel Bronson, Aaron Pakles, Lee Hutter

Moderated by Melissa Coit, a panel of global fintech leaders debated the balance between top-down regulatory frameworks and bottom-up market demands in the evolution of open banking. The discussion highlighted divergent regional models, contrasting India's public infrastructure-driven success with the fragmented, principle-based approach in the US, while addressing the critical need for consumer data ownership and liability clarity. Participants concluded that modernizing legacy core banking systems and establishing clear consent mechanisms are essential to enable real-time data flow and prevent market consolidation from stifling innovation.