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Open Banking

It’s a revolution. Tech + regulations are unlocking the banking value chain. How a bank acts now will shape its future to lose or win.

EVEREST GROUP PEAK MATRIX® ASSESSMENT 2022

Named Top Leader in open finance IT services

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Build a thriving digital future

Open Banking—driven by regulatory, technology and competitive dynamics—calls for banks to use APIs to make certain customer data available to non-bank third parties. The innovation is both evolving the industry toward hyper-relevant, platform-based distribution and giving banks a rich opportunity to expand their ecosystems and extend their reach.

Traditional, vertically integrated banks will need to become what they’ve never been before: savvy bilateral traders. Those that treat Open Banking as a strategic growth priority will position themselves to deliver the seamless and engaging digital experiences customers want—and potentially boost revenues by upwards of 10 percent.

Our collection of experience-driven insights can help banks navigate their way to a thriving, open, digital future.

THE GRAVITY OF RISING RATES

Explore the top 10 banking trends for 2023

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Turn Open Banking threats into opportunities

29%

Of banks’ traditional retail products-based revenue streams are at risk.

10%

Increase in overall organic banking growth expected by most bankers.

55%

Boost to banking revenue expected by 2020 from new opportunities created by open API-enabled services.

Partnerships are required

Open Banking value will initiate mostly in retail channels. Strategic partnerships within larger, mutually beneficial ecosystems will position banks to be visible and present to sell their offers whenever and wherever there’s an opportunity.

Open Banking insights

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Open Banking

Ready to catch the Open Banking wave?

As Open Banking apps, initiatives and APIs gather momentum, a new Accenture report details how banks can lead in the open data economy.

Payments

Fueling payments growth with new value propositions

New Accenture research highlights how payments leaders outgrow the competition in the face of disruption and evolving customer needs.

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Meet the team

Amit Mallick

Managing Director – Global Open Banking & API Lead
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Edlayne Burr

Managing Director – Payments Lead, Growth Markets
LinkedIn

Eleanor Scott

Director – Open Banking Lead, Australia and New Zealand
LinkedIn