SSV Capital PLC corporate finance team member Murtaza Memon joined Stephen Gunnion in the Proactive studio with more on the company’s focus on open banking and its potential to transform financial services in the United Kingdom and beyond. Memon described open banking as a “seismic shift” in how money moves between people and organisations, calling it a frictionless mechanism for payments that will support the rapid scaling of new financial products. According to him, open banking isn’t just a set of regulations, but a “springboard of innovation”. While acknowledging that many still see open banking as niche or limited to fintechs, Memon argued that it's already becoming mainstream. He noted, “A lot of credit decisions that are being done right now are being done through data, which is shared on open banking.” He pointed to the adoption of QR code and account-to-account payments across Asia as evidence of the model’s scalability, predicting that within five years, open banking will simply be “the way finance works”. To achieve greater scale in the UK, Memon said that SMEs are beginning to adopt the technology, large industry players are investing in it, and consumer education will be key. He noted that eventually, consumers will be using open banking without even realising it. For more interviews like this, visit Proactive’s YouTube channel. Don’t forget to like the video, subscribe, and enable notifications for future content. #SSVCapital #OpenBanking #FintechUK #DigitalPayments #FinancialInnovation #MurtazaMemon #BankingTechnology #SMEs #ProactiveInvestors #FinanceNews