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Report

Open Banking Report 2018 - Building Trust, Gaining Consent and Improving Customer Experience

Research Type: Overview
Published: 28 Sep 2018
Pages: 111
File Type: PDF
Size: 6069kb
Analysts: Mirela Ciobanu
Geographic Scope:    World
Editions: Online & Mobile Banking
Topics: Online-Payments

The Open Banking Report 2018 focuses on topics such as building trust, gaining consent and improving customer experience in Open Banking


Structured in four comprehensive chapters, the present edition of Open Banking Report 2018 puts particular emphasis on the idea that, by working with fintechs, banks can upgrade their offerings and create new opportunities to generate revenue and improve their business proposition in Open Banking. The report also provides an analysis of the present state of play of Open Banking and the most notable initiatives in the European Union (driven by PSD2), the UK (driven by the Competition and Markets Authority), and even beyond Europe (into Australia and Asia Pacific).


Thus, several key aspects are tackled, as follows:


  • the work put into implementing PSD2 towards Open Banking (INNOPAY and Deutsche Bank), and shaping of a competitive and innovative API technology (Consult Hyperion; 11:FS, PelicanPay);


  • the progress of Open Banking in the UK and the learning points so far (Imran Gulamhuseinwala, Trustee of the OBIE), without setting aside the emerging landscape of this regulation in Australia and how banks are preparing for openness in Europe and Asia Pacific (Holland FinTech, Kapronasia);


  • the roadmap to how Open Banking created a two-sided ecosystem between banks and TPPs and all the new use-cases that emerged (Token);


  • the revolution of Open Banking and digital banking platforms for banks (Worldline);


  • an overview of how companies can become PSD2 compliant (Volante Technologies);


  • the fine points of how open business banking is good business for banks and entrepreneurs (Bankifi);


  • an exclusive Interview on how ONPEX positions in the Open Banking and payment ecosystems;


  • the reasons why speeding up the API journey is imperative for banks’ success (SDK.finance);


  • the process of managing third-party risk under PSD2 (Feedzai);


  • Strong Customer Authentication and how it can create a framework for identifying, detecting, and responding to threats in Open Banking (Threatmetrix);


  • outdated APIs can be an open door to financial fraud; unsupervised machine learning can shut that door, according to Data Visor;


  • the anatomy of aggregation services (BNP Paribas Fortis);


  • an overview of how bringing the best experiences and solutions to users is essential to stay relevant for banks (Rabobank);


  • an exclusive look at Nordea’s Open Banking journey;


  • how to unlock opportunities in the API economy (Deutsche Bank);


  • how neobanks are setting the benchmark in banking (Fincog);


  • exclusive interview with Joaquin Ayuso, Founder and CEO, Denizen.


The report contains some very useful educational insights and great contributions from INNOPAY, Mobey Forum, and Aite Group, on creating value through Open Banking, how sharing transaction risk data leads to success in this niche, corporate onboarding processes, or strategic options for banks in the PSD2 age.


The new edition of The Paypers’ Open Banking Report is endorsed by Holland FinTech, an organisation fostering innovation within the financial services industry.


Here at The Paypers, we strive to provide a valuable educational background with a special emphasis on the global Open Banking ecosystem, PSD2 and managing consent, APIs harmonization, and best practices of banks, hence recommending this read for all the experts in the field, by downloading a free copy now.


We also look forward to receiving feedback from our readers, so feel free to share with us your input on the Open Banking Report 2018, by dropping us a line at editor@thepaypers.com.


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