Jack Wilson, ex-FCA advisor and TrueLayer’s Head of Public Policy, notes that he’s responsible for coordinating how the firm “influences” public policy (government and regulators) to ensure the appropriate conditions for the company’s growth across the United Kingdom, European Union, internationally.
A lot of the work focuses on “pushing for better user journeys, so that open banking works well for consumers,” Wilson explained.
Wilson also mentioned that he joined TrueLayer back in 2019 from the Financial Conduct Authority (the UK’s banking regulator).
Wilson shared that he’d been working on the implementation of open banking regulation, “especially on how the APIs would work in practice.” After that, it was “an obvious and exciting choice to join a company putting these APIs into action,” he claims.
Wilson further noted that he spends a lot of time working cooperatively with professionals at TrueLayer to understand what their blockers are, and then “externally with trade bodies and authorities to try address those blockers.”
For instance, “pushing for full coverage of instant payments across the EU, providing evidence of open banking obstacles to EU authorities and ensuring the development of open finance unlocks new use cases for our customers.”
Wilson added:
“TrueLayer will take open banking payments mainstream – addressing all the pain points of manual bank transfers and card payments – from fraud and scams, to clunky user journeys.”
Wilson also noted that TrueLayer has given him “the autonomy to build a public policy team from scratch.”
Having this responsibility and being able to set his own goals and strategy is “highly motivating,” he claims.
As reported, TrueLayer, which is one of Europe’s Open Banking platforms, had announced its collaboration (in November 2021) with Spanish broker Ninety Nine in order to provide an enhanced experience leveraging open banking payments.
Ninety Nine was formed with the stated goal to educate consumers on investing and “empower their relationship with their money.”
It provides an easy-to-use and accessible long-term investing platform, “designed for everyone who wants to invest in their own way.”
As noted in an update shared with Crowdfund Insider (last year):
“Like many investing platforms it has seen a huge increase in customer sign ups and, in particular, millennials who are looking to invest in well-known international stocks such as Apple, NVIDIA and Tesla.”