The concept of open banking was introduced through a series of regulatory interventions to provide customers better access to financial services, as well as enhance the industry’s competitiveness. However, from being a regulation-driven theme, open banking has now become a strategic imperative for financial enterprises globally, as it re-imagines the banking operating model and offers innovative products and services as well as helps formulate new channel strategies. Given the current economic scenario, open banking has created a unique opportunity for banks to diversify their revenue mix and weather the storm of a sustained low interest-rate environment.
A detailed conversation with leading bankers at Deutsche Bank – Helena Forest, Head of Cash Products, EMEA; Benjamin Madjar, Head of Cash Management Structuring, EMEA/Germany;
and Moritz Strobel, Global Product Head for Open Banking / API – helped us understand Deutsche Bank’s successful open banking story and how a customer-centric and co-innovation-led approach enabled the bank to significantly enhance business value and provide a richer experience to its corporate banking customers.
This study presents our learnings from this conversation. In addition, we have examined 100+ production-grade open banking case studies from 20+ IT service providers, as well as surveyed 45+ banking executives who lead open banking initiatives, as part of our open banking research over the last three years. We analyze the open banking priorities of Banking and Financial Services (BFS) firms, evaluate how open banking is shaping up in the corporate banking line of business, and outline the elements of a successful open banking journey.
Scope
Industry: BFS
Geographies: global
Contents
In this report, we deep-dive into the global open banking landscape and present our findings and perspectives on:
- The future state of banking and the role of open banking in enabling it
- The maturity of open banking in key geographies
- Open banking opportunities in treasury and corporate banking
- Case study - Deutsche Bank’s open banking journey for its corporate banking customers
- The path to a successful open banking journey
Membership(s)
Banking Information Technology
Outsourcing Excellence + Banking and Financial Services
