The Future of Banking Depends On Open Banking APIs

The Future of Banking Depends On Open Banking APIs

An open banking model, APIs and fintech partnerships provide unequaled opportunities for the survival of traditional ...

The Financial Brand June 19, 2017 | Subscribe to The Financial Brand for Free Open Banking enables third parties to develop new products and services through use of APIs. By working together and taking advantage of APIs, banks and fintech firms can leverage their complementary strengths, enhancing the customer experience much more than either entity could do on its own. By Jim Marous, Co-Publisher of The Financial Brand and Owner/Publisher of the Digital Banking Report Organizations in all industries are battling for customers based on providing a superior customer experience. The banking industry is no exception. In fact, as digital banking applications have grabbed a greater share of customer transactions, the need to provide an easy-to-use, frictionless experience, with new digital services offered across a greater number of touchpoints has never been greater. To satisfy these increased expectations, financial technology firms (fintechs) have entered the financial services marketplace. While most of this competition has not achieved significant scale, that shouldn’t signal that these solutions are not important to the industry. In fact, nearly one-third of banking customers have a relationship with at least one non-traditional firm... Read more (3 min reading time!)

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RT JimMarous: [New] World Retail Banking Report (#WRBR17) https://t.co/pvPDKFW9rl #fintech #banking #API #openb… https://t.co/IOvTpGC7BP
Jessica Paige
Jessica Paige
[New] World Retail Banking Report (#WRBR17) https://t.co/lPh8SZWp7H #fintech #banking #API #openbanking… https://t.co/JtbVDNVCaS
Jim Marous
Jim Marous
The Future of #Banking Depends on APIs https://t.co/lPh8SZWp7H #fintech #finserv #API #openbanking #BigData… https://t.co/3Q8iNmhLhW
Jim Marous
Jim Marous
The Future of Banking Depends on #OpenBanking #APIs https://t.co/lPh8SZWp7H #fintech #banking #finserv… https://t.co/MICYedeKhH
Jim Marous
Jim Marous
#Banking must embrace #openbanking or risk disintermediation. https://t.co/lPh8SZENJ7 #fintech #finserv #APIs… https://t.co/hebUImI5i2
Jim Marous
Jim Marous
The Future of #Banking Depends on #APIs https://t.co/lPh8SZENJ7 #fintech #finserv #API #openbanking #BigData… https://t.co/kHejxFR5nU
Jim Marous
Jim Marous