Open Banking: Success Story Or Just Another Buzz Word?

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In 2016, The Competition and Markets Authority (CMA) published a report on the UK’s retail banking market. The report found that older, larger banks don’t have to compete hard enough to gain customers’ business, while newer banks find it difficult to access the market and grow. One of the CMA’s recommendations to tackle this problem was open banking.

Since 2018, the open banking ecosystem has enabled customers and SMEs to share their current account information securely with third party providers, who use that data to tailor their apps and services to peoples’ specific financial circumstances.

During his talk, David Beardmore, Ecosystem Development Director at the Open Banking Implementation Entity (OBIE), will discuss:

  • Why open banking came about
  • What it actually is
  • How it’s being used and by who
  • Use cases & benefits
  • The future of open banking


David’s role at the OBIE is to lead the growth and development of the open banking ecosystem. His key objective is to facilitate and encourage end user adoption of products and services powered by open banking. This includes all marketing and events, bringing new participants into the directory, and developing effective propositions which allow consumers and businesses to derive maximum benefit from sharing their transactional data.

His 25 years in data-driven insight and marketing have seen him work with many leading brands in multiple sectors and countries. In addition to working for some of the largest players in the data world such as Experian, Callcredit and Telefonica, David also ran his own boutique data insight business, Thinkdata, for 5 years before its acquisition by Bertelsmann. Prior to joining OBIE, David spent 3½ years as the Commercial Director at The Open Data Institute where he also led their work on open banking, helping governments and regulators in Mexico, Australia, New Zealand, Japan and Canada. David regularly speaks on open banking at conferences in the UK and internationally, has co-authored a number of reports on Open Banking, and was interviewed on BBC TV on the day it officially launched in the UK.

Originally a classically trained musician, David has a Master’s from Cambridge University and an MBA in Marketing. He sits on the board of Open Data Australia, and also as a non-executive director for Boundless, a theatre company for young people. Ever the optimist, he continues to hold a season ticket at Nottingham Forest Football Club.

Robert Pay has extensive experience in both professional and financial services. His chief interest is building both business and brand for know-how rich businesses. His roles have included being a Marketing Manager for a "Big Four" banking and securities practice, and a seven year stint as the Global Chief Marketing Officer of leading international law firm, Clifford Chance. He was Head of Marketing at the London Stock Exchange where he was responsible for the marketing launch of AIM, the smaller companies' market, on whose Board he served; he developed a successful marketing campaign aimed at attracting foreign issuers to London; and marketing of introduction of order-driven trading. He then ran the European arm of a US-based professional services consulting firm for several years before moving back in-house as Global Marketing Director of BSI Management Systems where he introduced an NPD process, and refocused the global marketing function on new product development. Immediately prior to relocating to the United States he was the Chief Marketing Officer for European law firm Taylor Wessing, where he worked with Z/Yen to create the Global IP Index.

Friday, 23 July 2021

11:00 - 11:45 BST



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  • David Beardmore headshot.jpg
    David Beardmore
    EcoSystem Development Director
    Open Banking Implementation Entity (OBIE)
  • REPay Photo.png
    Robert Pay
    Senior Associate
    Z/Yen Group