The future of South African banking is open, with Nick Tuttelberg (DirectID)
How to Lend Money to Strangers
Brendan le Grange
4.9 • 43 Ratings
🗓️ 23 August 2022
⏱️ 32 minutes
🧾️ Download transcript
Summary
Open Banking is a proven technology with proven use cases, and in the UK, perhaps its spiritual home, user numbers continue to rocket - there are now more than 6 million active Open Banking customers there.
However, some other markets are looking on and wondering what the fuss is about.
This was surprising to me. And it was surprising to today’s guest, Nick Tuttelberg of DirectID. After all, there’s not a business alive today that wouldn’t want better data, and Open Banking provides some unique ways to generate and leverage data. But it seems the concept is still misunderstood in some sectors, so Nick and I take a step back and look at how a market like South Africa could benefit from encouraging Open Banking.
As we mention in our chat, this is the second time I have interviewed someone from DirectID, so if you’d like to deeper dive into the company and its mission, you can listen to my chat with its founder, James Varga, in episode 36 of this show: https://www.howtolendmoneytostrangers.show/episodes/episode-36
But you can learn more about DirectID on their (recently redesigned and now looking very lovely) homepage https://www.direct.id/ or via LinkedIn
LinkedIn is also a good place to find Nick if you’d like to start your own Open Banking journey, he’s here: https://www.linkedin.com/in/nicholas-tuttelberg-87bb0628/
You can learn more about myself, Brendan le Grange, on my LinkedIn page (feel free to connect), my action-adventure novels are on Amazon, some versions even for free, and my work with ConfirmU and our gamified psychometric scores is at https://confirmu.com/ and on episode 24 of this very show https://www.howtolendmoneytostrangers.show/episodes/episode-24
If you have any feedback or questions, if you would like to participate in the show, or if you'd like to find full written transcripts with timestamps head on over to HowtoLendMoneytoStrangers.Show
Regards,
Brendan
Hosted on Acast. See acast.com/privacy for more information.
Transcript
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| 0:00.0 | Hi, this is Alex on M from Shadadjali.com that podcast and we are currently sponsored by |
| 0:04.7 | NetWest Business Banking. Whatever stage your business is at, whether it's still an idea or |
| 0:08.9 | you're well on your way to success, NetWest is here for you every step of the way. Whether that's |
| 0:13.0 | accessing one of their free programs with events, courses and useful tools or maybe you need help |
| 0:18.0 | managing your money better, NetWest Business account customers get free access to bookkeeping |
| 0:22.4 | software, free agent so you could run your business more efficiently and stay on top of cashflow |
| 0:27.1 | invoices tax obligations the lot. Search NetWest backing business and get started with |
| 0:32.7 | NetWest tomorrow begins today. Business banking available to eligible customers in the UK, |
| 0:37.4 | specific account eligibility apply. Some mental services may encourage charge, some services are |
| 0:42.5 | only available to NetWest customers. Simply put, it's a secure way for you to share your |
| 0:50.8 | transactional dates in a digital format to get a better deal and this is the thinking behind |
| 0:55.9 | open banking it was never so one personal individual or government can make more money. It's so |
| 1:00.5 | that consumer can get better deals, better terms or better interest rate or loyalty points or |
| 1:05.7 | anything like that that can benefit you as a business, a small business or an individual. |
| 1:14.5 | Nick Tappelberg was attending a conference on the future of South African banking when he was |
| 1:20.0 | jared to attention. A panel of senior leaders and regulators had been asked about open banking's |
| 1:26.6 | role in that future and they'd been unable to answer. Working at the forefront of open banking, |
| 1:32.9 | Nick had had to educate customers before but this had come after a full day of talks |
| 1:38.8 | all discussing the inescapable importance of data in the new economy. So why the disconnect? |
| 1:45.6 | Why could everyone see the value of data but not the role that open banking could play in |
| 1:51.5 | leveraging that data? Welcome to Heart to Len Manitus Strangers with Brendan Lagrange |
| 1:57.7 | and indeed the last of my mini series of South African themed bonus episodes. So there will be |
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