Steve Boms of Allon Advocacy on Open Bank Regulation

Our guest this episode is Steve Boms, Founder and President at Allon Advocacy and also Executive Director of the Financial Data & Technology Association. Steve comes out of Penn State and has worked at Capital One, the International Securities Exchange, and the US House of Representatives assisting a senior member of the Financial Services Committee. We talk about regulations and government relations in financial services. Topics include: Who needs a lobbyist? How do the countries stack up against each other in terms of regulation readiness for open banking? Dodd Frank passed into law in 2010 but we’re only talking about the regulations going into place at the end of 2024. Why? What are the metrics we should be looking at that will indicate we’re moving toward connected finance in the right way and at the right speed? What must the consumer be reassured of when it comes to asking them to offer up their data? Why financial services is one of the first verticals being looked at for the application of data regulation. How data access will bring more competition which will bring more benefits to consumers. Helpful Links:Allon AdvocacyFinancial Data & Technology AssociationSteve Boms on LinkedInEnvestnet Yodlee