Open banking is a major shift in the retail banking industry to give customers greater control over their data and create a new connected ecosystem where banks, fintechs and other third parties to collaborate to deliver seamless financial services. From Australia to the UK, Japan to Germany, open banking will create difficult strategic questions for retail banks in all major markets to answer in the years ahead.
To understand how the industry is interpreting open banking and taking advantage of the new opportunities available, we interviewed chief information officers and heads of innovation, investment and digital banking from leading banks around the world. We asked how they are gearing up and tackling the challenges that stem from a rapidly changing marketplace and business model.
These leaders share the following insights about how open banking will create a new ecosystem that delivers banking as a service:
Don’t settle for half the story.
Get paywall-free access to technology news for the here and now.