RAOUF MHENNI TITLE : CHIEF COMMERCIAL OFFICER
OPEN BANKING / DATA
RAOUF MHENNI TITLE : CHIEF COMMERCIAL OFFICER
COMPANY : SOPRA BANKING SOFTWARE
As Raouf Mhenni , Chief Commercial Officer at Sopra Banking Software explains : “ Before PSD2 was introduced , Open Banking operated within constraints and relied heavily on screen scraping – or collecting data from one application to then translate it to another – done by Third-Party Providers ( TPPs ) to access financial data . “ This was not only unreliable and insecure , but it left customers with little control over their data . Not to mention that it encouraged little innovation .”
It is this subsequent innovation – in the space of six years – that has been seen and felt by consumers the most .
Bart Willaert , EVP of Open Banking International Markets at Mastercard , says
As CCO of Sopra Banking Software , Raouf Mhenni is an international executive with extensive experience in ICT , software and IT solutions . He has significant experience in business development and general
management at a global level with a strong focus on the EMEA region .
Open Banking has led “ to smarter and more meaningful digital experiences , putting consumers at the centre of where and how their data is used ”.
Mhenni adds : “ PSD2 introduces a way for banks to seamlessly connect and exchange data . This allows consumers to bring all of their financial information together and do more , with less movement across accounts and apps .
“ For instance , we ’ re seeing a rise in pay-by-bank which is when customers can securely pay online directly from their bank account . Without PSD2 this wouldn ’ t be possible .”
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