Episode 20: Banks Turned Data From a Regulatory Headache To Secret Weapon

Aug 16

**Rich Edwards**
*CEO, Mindspan Systems*
Follow him on LinkedIn

In this episode I chat with Rich Edwards, CEO of Mindspan Systems, about the changing tech and data landscape for financial institutions - especially big banks versus regional ones. Additionally we discuss how Mindspan turns tech into a commodity, and data from what was once a regulatory liability into a democratized operating asset.

In this age of consolidation, we chat about how data is the smaller bank’s secret weapon to improve service, add innovation and combat bias in financial data (which historically barred access to services from under-represented communities). We also chat about how financial data is shared more broadly among the financial institutions through the open banking framework, as well as what that means for privacy and competitiveness.