Empowering innovation & diversity: NextGen’s Open Banking journey

In today’s rapidly evolving financial landscape, NextGen is at the forefront in the Open Banking sphere. We sat down with two of the driving forces behind NextGen’s groundbreaking Open Banking solutions: Renee Blethyn, Head of Broker Partnerships at NextGen, and Josie Bakker, NextGen’s Product Manager – Open Banking (CDR).

Our aim was to learn more about their journey and gain insights into the opportunities and challenges presented by the evolution of Open Banking in the industry. We explored the transformative impact of this technology on consumers and discussed the significant role of women in driving innovation within the finance and technology sectors.

Powerful collaboration for positive outcomes

Working closely with mortgage broker groups and lenders, NextGen has transformed the lending industry by enabling seamless integration of customer data from Open Banking sources to enhance the loan application process.

In their interview, Bakker and Blethyn emphasised the critical importance of collaboration in both delivering NextGen’s Open Banking solutions and also shaping the future of the Open Banking ecosystem. Bakker underlines the importance of gathering insights from users to truly achieve better outcomes for consumers.

Celebrating milestones and overcoming challenges

Reflecting on NextGen’s Open Banking milestones, Bakker highlighted the achievement of the organisation’s Accredited Data Recipient status and the subsequent integration of Open Banking services with the first broker groups and lenders.

Blethyn discusses the challenges in developing the product which have served as valuable learning experiences driving continuous improvement of the NextGen solution. She expressed excitement for the journey ahead, leveraging lessons learned to further evolve the product and deliver safe, consumer-centric solutions through the mortgage broker channel.

Empowering diversity and inclusion

Both Bakker and Blethyn emphasise the significant role of women in driving innovation and empowerment within the Open Banking space. Bakker highlighted the diverse representation within her team and the exciting opportunities presented for the female perspective in the technology sector. Blethyn stresses the importance of financial literacy and the potential for Open Banking to empower individuals, especially women, to take control of their financial futures.

What’s next for Open Banking?

Looking ahead, Bakker envisions endless possibilities for Open Banking, from streamlining loan applications to facilitating fast refinances. Blethyn shares her personal mission to see NextGen’s Open Banking solutions widely adopted across the country, underscoring her commitment to the mortgage broking industry.

Advice for future leaders

Ahead of International Women’s Day, we asked the pair to share their advice for future female leaders. Bakker emphatically encourages women to pursue careers in technology, underscoring the industry’s vast opportunities for women to make an impact. For aspiring young female leaders, Blethyn stresses the importance of self-awareness, community-building, and hard work.

In conclusion, the interview showcased the collaborative efforts driving innovation in Open Banking, with a focus on empowering diversity and leveraging technology to deliver meaningful outcomes for consumers. Bakker and Blethyn’s insights highlight how NextGen is driving positive change and shaping the future of finance for generations to come.

Watch the interview video below.

To find out more about Open Banking, contact NextGen.