PayTechTalk #25 – Dave G. Birch and Frank Müller about Open Banking and Digital Identity - a podcast by PAYMENT.TECHNOLOGY.LAW.

Open Banking&Identity: In the 25th-anniversary episode of PayTechTalk, I had the great honor to talk to none other than the world-famous author, advisor, and commentator on digital financial services, Mr. Dave Birch.

Open Banking – will it do harm or further competition?Dave gave us interesting insights into his experiences with open banking and why the asymmetric playing field that it creates may harm rather than further competition. Will GAFA&BAT take over the world or will open banking give hope to the rest of us to catch up with the BigTechs?

Identity is the new money!Dave has not only written a mind-blowing book with this title, he is an absolute genius when it comes to identity. We briefly discussed the 2FA approach of the PSD2 respectively the EBA and found that the framework is far from providing a 2FA solution that would satisfy the interests of the market. As there is no standard approach, we discussed as to whether merchants are forced to ignore the 2FA obligation and simply take the risk (is there any significant risk that modern technologies cannot reduce to a minimum?)? Is this legally possible, if so, how? Could new technologies improve the identification and authentication experience and still provide top of the notch security?Dave Birch wouldn’t be Dave Birch if he didn’t have answers to these questions. He gave us profound insights on what the new technologies are capable of and how the identification and authentication process of the future could look like.

Enough intro! Please sit back relax and enjoy our anniversary episode of PayTechTalk.

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