Latest / The Payments Shed / Ep. 9 - The Next Phase of Open Banking: How Yapily Is Powering Smarter, Connected Payments @ Money 20/20 USA 2025

Transcript

Ep. 9 - The Next Phase of Open Banking: How Yapily Is Powering Smarter, Connected Payments @ Money 20/20 USA 2025 · The Payments Shed

• 0:05
  You're on a walking talk of money Money USA TODAY.
• 0:09
  We're joined by Stefano Vucina, CEO and founder of The Athlete.
• 0:13
  Stefano, please introduce yourself to roll.
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  And Yahoo is a business. And I'm second.
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  I'm the founder and CEO of the company.
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  Yeah, they're not making that so much of A what's in Europe.
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  They need to lend it back. What's the data payment?
• 0:33
  OK. Perfect.
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  How would you describe the current state like with the
• 0:39
  world? Like I would say you're making
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  this single teenager states we have probably one or two years
• 0:47
  of maturity, but we can see this with potential of it, the
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  energy, the talent if we learn the Orisha Webber in one or two
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  years and have maybe given me DI working by the SLA.
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  So yeah, teenager. I think it's a method.
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  I think the first stage of open banking was very much about
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  accessibility into data. What's driving the shift of
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  additional value added services in open banking?
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  Now it's got high by banking. It's been a little bit slower in
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  the adoption stage, but what do you see if those core kind of
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  biased products in the next deadly back in this teenage
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  state talk about I think the. Potential of making influence
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  when data payment will work together and data will inform
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  payment and help the observation of it, but then payment will
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  enrich data as well. As you mentioned in Dreaming
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  Media coming next year is a total mice because this is when
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  really open banking is in a payment perspective.
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  You see eventually people can file with their debit.
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  So I think the fusion of data entertainment allow us to see
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  the 2 convention. Yeah.
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  No, I think that's a fairpoint. Then in terms of some of those
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  next steps to be around the payment side of things, we've
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  talked the show a lot around the consumer protection that covers
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  kind of state you think we're in as far as are we going to have
• 2:13
  featuring a protection on pay by bank at some point, Who would be
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  responsible for covering that? Is that still one of the biggest
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  hurdles on the face when you're comparing pay by bank card
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  payments? It's definitely one of the
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  hurdle, but not the fact we need it or not.
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  Is that what level is what price?
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  And ultimately if you want to have something which is
• 2:35
  different, you need to have also different level as the abduction
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  of the different price. But you cannot have a like for
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  like otherwise it's going on that potentially right And there
• 2:46
  will be not a lot of incentives for emergency.
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  I think nobody is cute when needed.
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  It's just making sure the ecosystem agree on how much of
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  it is needed and how much is going it's going to be, I think.
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  One of the other pushbacks we get when you compare it to cards
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  is the loyalty programs. The points that you get with
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  with card scheme programs is that another gap that we've got
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  to pay by bank at the moment. I don't, I don't think it's a
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  cap because you have the data, you can leverage the data to our
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  wired schemes. It's just again pressure of
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  doing things differently and now we cleaning the eye that will
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  come. You can come together and get
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  data in the reaching payment and then especially automatically
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  apply the discount amount of schemes when you have to.
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  It's not. Something.
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  That merchants will build themselves though?
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  Or do you think that's something that like by the side itself,
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  maybe there's a bunch of products?
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  More likely to be companies focusing on that all we have to
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  merchant but that needed COVID magazine layer not match of
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  success. So someone in the middle it was
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  so because ultimatum is such a huge space with a lot of level
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  of sophistication and application and your story in
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  real bank. So I don't think the banking
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  play handy. Banking infrastructure as well
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  is a loyalty scheme. They're planning to pay two
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  different company. Exactly your company already.
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  Doing it, but why not then span you?
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  Fair enough. And then the other big question
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  I wanted to pick your brain on, I'm very lucky to have you on
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  the show today. Regulation and innovation,
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  obviously the two kind of going hand in hand if now do you think
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  that the regulators in various markets are going to be the ones
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  that are then leading into further innovation in the bank.
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  Every country has seen this mix in a different way.
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  Some country like UK and Europe, regulation was the foundation
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  and now obviously like the system we come together with the
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  premium aspect. In other countries like Brazil
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  or India, we've seen them today to do so much that a lot of
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  innovation already came to them. In the US it's still difficult
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  to understand what's going to happen.
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  So I think it's a balance that the country is getting it
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  differently. There are 80 countries expanding
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  into open banking. So I think everybody will have
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  that on the Nixon match. And to talk about Yakli, then
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  how are you guys really helping banks and fintechs to drive
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  innovation, local banking? We are trying to be both tool
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  and cool and that our customer need to be their own solution
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  always. Why they go behind the scene
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  trying to focus on giving them the best infrastructure
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  ultimately is their product. And as the market evolves, the
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  market says the market is telling us what they need,
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  right. So we listen quite a lot to our
• 5:48
  customer. We try to respond quickly and
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  these are another tool with this translation.
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  Ultimately, we have been done in water.
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  Meeting our customer names may need the next week.
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  We'll be late. We're obviously in America, it's
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  my USA, the USA market. You guys obviously had the the
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  announcement with Google recently.
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  Congratulations to go online that partnership why is running
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  2020 second bulls that you guys can do particularly the US my.
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  Super Everything learns what's happening here how the banking
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  is folding with the last two months in particular that's been
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  out in turn. So for us like for anything in
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  the world ultimately us will be a destination at some point is
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  when now you're going to do it. And so we're always here trying
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  to understand when it's the night time starts and meeting
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  partners. We have lots of customers
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  channel international first customer into IT company and oh,
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  there's three things I'm now saying is always need to come
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  here. Fantastic.
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  And we have one final question. Thanks for joining us in the
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  show today. But there's a little section we
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  asked every chat that we have with the guest night.
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  So we ask you to nominate something.
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  It would be from fintech. We just for business in general
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  political 9 of this data. I guess naming that could use
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  nothing back I think. Should we talk to?
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  You can also expect something to be adopted from the CBRP every
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  time. It's difficult if you have to
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  explain more exciting and maybe close.
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  We need to get back together a room to kind of agree what the
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  new names are gonna be. Potentially understand that and
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  can actually so maybe 2 hours you as well, sorry.
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  So yeah, I think the remaining convention will be likely
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  something on. The I don't think that's the
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  last time we've had that nominated, but thanks for
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  joining us on the show today. Enjoy the rest of 2020 USA.
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  So much for telling me.