MOSHE WINEGARTEN
DIGITAL BANKING
MOSHE WINEGARTEN
TITLE: CHIEF REVENUE OFFICER COMPANY: ECOMMPAY INDUSTRY: FINTECH LOCATION: UK
Fintech veteran Moshe Winegarten brings 18 years of expertise across major payments firms, including leadership roles at Barclaycard, Visa Europe, Checkout. com and Ecommpay, where he serves as Chief Revenue Officer.
“ In open banking today, payment initiation requests( PIS) require individual authority whereas account information( AIS) request permissions are refreshed at defined periods, and many requests are implemented by batch to streamline process and access control overheads.”
This segmented approach enables efficient data handling while maintaining security standards.
“ For recurring payment of continuous authority, similar principles could be deployed to support the seamless experience but manage access permission and account holder verifications.” central bank digital currencies( CBDCs) presents specific opportunities for traditional banks.
“ Banks are already heavily invested in due diligence and KYC; if this could be accessed through APIs for DeFi and CBDCs then it could enhance the user experience,” Moshe suggests.
“ KYC and due diligence could, therefore, be a profit centre for the banks rather than the cost centre it currently is.”
Privacy Considerations Shape Processing Architecture The management of data privacy in open banking requires specific technical approaches.“ Key considerations are in the rules and permissions rather than in the technology per se,” notes Moshe.
Market Evolution Extends Beyond Traditional Banking It’ s clear the implementation of open banking infrastructure has created opportunities beyond traditional financial institutions.
Moshe says:“ The banks have spent many years and significant investment plugging open banking into their legacy systems.
“ The opportunity now is for open APIs to be available beyond the incumbents – for payment platforms like Ecommpay to enhance the payment experience for merchants and their customers.”
He concludes:“ At the moment, open banking is being used to look at transaction history for financial institutions to build their own models.
“ The opportunity, surely, is to extend the data that’ s available through an API to transform the customer experience.”
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