Banks face increasing pressure from tech giants, fintech startups, regulatory changes and customer expectations. An open banking platform powered by APIs can help banks meet the challenges of these four pressures and help them to reinvent themselves in the new ecosystem landscape of today. But how prepared are banks and what do they need to do next to ensure their own survival?
This report analyzes the global open banking platform landscape in 2017, makes recommendations for how banks and fintech can work together, and provides insights into future bank business models.
Tech giants, fintech startups, regulatory pressure and customer expectations are all forcing banks to accept new business models. But there are three key strategies banks can take to prepare for a future of open, digital banking platforms.
This year’s report looks at:
What are the global drivers/pressures on banking to adopt APIs?
Are bank IT architectures ready to enable open banking platforms?
What is the state of the open banking market? What products are banks making available via API?
How can banks work effectively with fintech startups?
What open banking business models are most popular in 2017? Where is the market heading?
Want to learn more about Banking APIs and the opportunities for fintech and for API service providers?
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