Sotiris Syrmakezis

CEO at What If / Digital Transformation

Message Posts: 0 Comments: 1

Career History c. 30 years career in Greek banking. General Manager from 2012 until 2018 and Deputy GM from 2007 as Head of Retail Banking, Digital Business and Technology Divisions, always with an intrapreneurship approach. Now as a fintech entrepreneur, building an innovative, ambitious, alternative digital payments/loyalty platform utilizing open banking and instant payments.

Sotiris is Commenting on

Fintech founders accuse Starling's Boden of trying to stifle innovation

I agree with Anne that “other measures would be best deployed to encourage customers to switch accounts” but that doesn’t mean that open banking should be abandoned. On the contrary, it should be further supported and augmented with additional measures. Stating that Open Banking is not a success is subjective. We all would like to see a much higher adoption but, even so, results are very promising. Open Banking is here to stay and it's a matter of time until we see it getting a substantial market share in payments. One of the reasons for Open Banking’s smaller success is the resistance of incumbent banks who don’t want fintechs playing in their playgrounds. And this brings us to the fact that Starling is an ex-fintech startup, now a Bank-wannabe and this explains Anne’s position. Moreover, it’s usual for startups not wanting other startups in their own playgrounds. I am an all-time admirer of Anne Boden, I underline her statement on diversity and I congratulate her for her perseverance and success so far.

05 Jan 2022 Reply Read article