Steve Boms of Allon Advocacy on Open Bank Regulation

Our guest for 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 metrics should be monitored to indicate whether 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, bringing more benefits to consumers.

Helpful Links:
Allon Advocacy
Financial Data & Technology Association
Steve Boms on LinkedIn
Envestnet Yodlee