Open Finance specialist Dan Murphy appointed as consultant by FDATA North America
In a recent development, Dan Murphy has been appointed as an Open Finance consultant by FDATA North America, a leading advocacy group for Open Banking and Open Finance. This new role will see Murphy sharing his extensive expertise on Open Finance issues with the organisation's members, particularly focusing on navigating the evolving US Open Banking ecosystem, which is currently grappling with legal and regulatory challenges.
Murphy, who previously served as the Open Banking program manager at FDATA North America, will work alongside Allon Advocacy, a policy and advocacy firm dedicated to the advancement and regulation of Open Finance frameworks. His appointment comes after he announced on LinkedIn that he is considering his next full-time adventure while also taking on part-time advisory clients, including Steve Boms and his clients at Allon Advocacy, LLC.
Steve Boms, the founder and president at Allon Advocacy and the executive director of FDATA North America, expressed his delight at the opportunity for their Open Finance clients to benefit from Murphy's expertise. Boms has always been impressed by Murphy's depth of knowledge on policy and his dedication to making Open Banking work.
The appointment of Dan Murphy as an Open Finance consultant comes in the wake of the Consumer Financial Protection Bureau (CFPB) finalizing the Personal Financial Data Rights rule last October. Under this rule, financial institutions, credit card issuers, and other financial providers will be required to unlock and transfer an individual's personal financial data to another provider at the consumer's request for free. The CFPB stated that this move brings the US closer to a competitive, safe, secure, and reliable Open Banking ecosystem.
Dan Murphy brings a wealth of experience to his new role, having previously worked as the Open Banking program manager at the CFPB and being part of the team that wrote the CFPB's Section 1033 rulemaking. His expertise spans policy, technical, and market considerations related to Open Finance issues.
On June 26, Dan Murphy and Steve Boms are scheduled to speak at the Open Banking Expo USA at the Hilton Midtown in New York. This event promises to be a significant gathering for those interested in the future of Open Banking and Open Finance in the US.
In conclusion, Dan Murphy's role as an Open Finance consultant focuses on advocacy and guidance in the US Open Banking/Open Finance space. He is appointed by FDATA North America and works with Allon Advocacy, engaging in navigating regulatory uncertainties and legal challenges around Open Finance in the US.
- Dan Murphy, the Open Finance consultant appointed by FDATA North America, will share his expertise on Open Finance issues at the Open Banking Expo USA on June 26.
- In his new role, Murphy will collaborate with Allon Advocacy, a policy and advocacy firm focused on Open Finance frameworks, to navigate the evolving US Open Banking ecosystem.
- The Consumer Financial Protection Bureau's (CFPB) Personal Financial Data Rights rule, which requires financial institutions to transfer personal financial data to another provider at the consumer's request, aligns with Murphy's focus on Open Banking and Open Finance.
