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Steve Boms of Allon Advocacy on Open Bank Regulation
Manage episode 425995067 series 3570071
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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 Advocacy
Financial Data & Technology Association
Steve Boms on LinkedIn
Envestnet Yodlee
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