Open banking body adds regulatory expert to board
Open Banking Limited (OBL), which oversees the UK’s roll-out of the data-sharing initiative, has appointed Claudio Pollack to its board as an independent non-executive director.
Pollack has significant regulatory, competition and consumer policy expertise.
His appointment is hoped to strengthen the organisation as the Open Banking Implementation Entity continues to prepare for transition from its current form to a new organisation to be determined by the Joint Regulatory Oversight Committee.
His previous positions include more than a decade at Ofcom, the UK’s telecoms regulator, as well as being a part of the team at alternative telecommunications provider Cable and Wireless, which led efforts to ensure obstacles to competition and innovation in the sector were tackled.
He is currently chair of the One Touch Switching Company and advising on policy and advocacy in regulated industries through Abberton Consulting.
His clients have included the Payment Systems Regulator and Financial Conduct Authority.
“I am delighted to welcome Claudio. His considerable experience will be invaluable to the Board as we navigate the future development of open banking in the UK, and transition to a Future Entity,” OBL chair Marion King said, commenting on his appointment.
Pollack added: “My career to date has been focused on working to ensure that regulated markets deliver on their intended outcomes for consumers and businesses. I am therefore delighted to be joining OBL at such a pivotal time, where building on the momentum achieved to date will be essential to open banking’s future success.”