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.
Of banks’ traditional retail products-based revenue streams are at risk.
Increase in overall organic banking growth expected by most bankers.
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
Read our latest research and insights relevant to Open Banking.
Reinventing commercial payments for profitable growth
Our study reveals key strategies to spur commercial payments growth and regain market share.
Payments gets personal—strategies to stay relevant
Our research outlines a path to growth for payments amid rising consumer expectations and innovative competition.
Ready to catch the Open Banking wave?
As Open Banking apps, initiatives and APIs gather momentum, our report details how banks can lead in the open data economy.
Fueling payments growth with new value propositions
Accenture research highlights how payments leaders outgrow the competition in the face of disruption and evolving customer needs.
Embedded finance for SMEs: Banks and digital platforms
Embedded finance sees some of the world’s most powerful digital platforms taking aim at the SME banking market.
Europe’s journey to ISO 20022
Explore the hurdles banks must clear on their migration to ISO 20022—and the opportunities it will unlock.