James Varga

CEO at The ID Co.

Message Posts: 2 Comments: 1

Bio Founded The ID Co. with a mission to create convenience and to allow us to sign up to new products and services in seconds. The ID Co. builds products based on open bank data that helps businesses onboard their customers quickly by solving pains such as affordability and credit risk. Career History James is active in a number of local and global efforts to help people do more online, including the Fintech Delivery Panel, FDATA, Open Banking Excellence Edinburgh, and Trust In Digital Life, whose mission is to create a trusted ecosystem.

Blogs

Open Banking

Why Bank Data Will Dominate in 2019

26 Jun 2019

I was intrigued by the production of the below graphic after being asked to comment on it by colleagues within the context of Open Banking. Without question, it gives food for thought. With the luxury of hindsight, it feels odd that it took almost half a decade for electricity to be available to a mere 25% of the US population. There are very good ...

Open Banking

Open Banking Is A Success. I'll Show You Why.

06 Mar 2019

Following the one-year anniversary of Open Banking going live in the UK, I was struck by how many headlines suggested it had somehow “failed” or is otherwise not fit for purpose. The negative press surrounding Open Banking has stemmed from a variety of viewpoints. Some from a lack of understanding by journalists on the subject, some concerned wit...

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James is Commenting on

Only 14% of UK consumers ‘completely understand’ Open Banking - Ecommpay

Throughout the lifecycle of Open Banking this has been an ongoing debate on how much consumers should or need to understand the topic. In the UK we combine Open Banking as both payments and data which in itself is confusing to most users. In many countries it just means data. As an industry this is something we need to address at some point. In my experience at the end of the day it doesn't matter. We have to focus on the value we can create from Open Banking and not the technology itself. There are lots of benefits to Open Banking/Open Finance Data accross a range of use cases and industries. It is creating value from this data that should be our focus as industry.

07 Sep 2021 Reply Read article