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Vladimir Dimitroff

Vladimir Dimitroff

Chairman at Senior Executives Forum
Posts: 0 Comments: 8
Bio Event series, publishing and networking platform for leaders in the UK Private Wealth sector Career History Senior corporate roles in Technology, followed by extensive Management Consulting career. Lifetime interest in Innovation: advisor to startups and venture investors, occasional founder or seed investor. Active speaker, author and event organiser.

Vladimir is Commenting on

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

  This sounds like a Cancel Culture exercise - taking a phrase out of context, and attacking for the keyword 'failure'. As far as I read  in media reports, she apparently said that OB has "failed to enocurage bank account switching"... Where are those words in the woke accusers' attack??? Leave aside (for a moment) whether account switching was ever the top priority raison d'etre of Open Banking. (Neobanks, including Starling, can be excused for having such expectations). But said switching has not materialised in any significant numbers. Fact. How does a statement of fact constitute the sin of 'stifling innovation'?!? Open Banking was, indeed, a remarkable success in areas like account aggregation / single view / wallet type services, and by extension - in the emerging and important area of PFM (personal finance management), where a 360-drgeee visibility of all customer's activities, assets and liabilities adds significant value and this use case of OB is likely to continue growing. There is limited but promising success in simplifying, automating and speeding up onboarding and account management with non-bank ('merchant') players like utilities and retailers. And a number of lesser areas with 'long tail' cumulative contribution to the thriving fintech sector. But I haven't read about Ms Boden denying those success areas or suggesting better methods for stimulating their growth? She wanted people to switch their main bank (in particular - their salary destinatio account) from the high-street incumbents to the neobanks. Din't happenl sorry - but stating that fact is no crime to make such vicious noise about.