Author: Jikku Joseph

There has been recent press covering screen-scraping scams and how these scams could target individuals and businesses. There is a better answer to these concerns than restraining your data. In addition to warning customers to be vigilant of bad actors, our financial institutions would do well to support the development of an Open Finance environment. Under Open Finance, we have control over our financial data and who can see it and use it to help us. The promise of Open Finance is that if our financial data is shareable in a safe and ethical manner, it could add significant value…

22seven welcomes the recent appointment of the new Financial Sector Conduct Authority (FSCA) Commissioner, Unathi Kamlana, and Deputy Commissioner, Astrid Ludin. This is an opportunity for the Open Finance conversation to be at the top of the FSCA’s agenda. Kamlana’s experience at the South African Reserve Bank and Ludin’s recent experience leading digital innovation at The Department of Trade, Industry and Competition are encouraging. We look forward to them commencing their roles in the coming months. Open Banking, a subset of Open Finance, was first introduced through the second payment services directive (PSD2) in Europe in 2015, and later the…