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市場調查報告書

開放式API銀行:可能性及機會定義;開放式銀行策略

Open API Banking: Defining the Potential and Opportunities; Strategies for a world of open banking

出版商 Verdict Financial 商品編碼 370318
出版日期 內容資訊 英文 43 Pages
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開放式API銀行:可能性及機會定義;開放式銀行策略 Open API Banking: Defining the Potential and Opportunities; Strategies for a world of open banking
出版日期: 2016年09月15日 內容資訊: 英文 43 Pages
簡介

本報告提供銀行可展開的開放式API策略相關資料,各方法相關優點及缺點,開放式API帶給銀行的機會及威脅,已經利用API的銀行與其理由、經驗等相關分析。

摘要整理

開放式銀行形勢定義

  • 開放式銀行是今後數年間最重要的銀行的趨勢
  • 消費者透過獲取高度服務而獲得恩惠
  • 消費者由於安全的疑慮避開帳號的整合
  • 幾個倡議讓供應商朝向開放式銀行

銀行的替代開放式銀行策略

  • 作為市場的銀行
  • 作為促進角色的銀行
  • 銀行即服務

開放式API的機會、威脅

  • 機會
  • 威脅

附錄

圖表

目錄
Product Code: VF0084IA

Summary

Regulatory and technological developments are pushing banks in Europe and the UK to open up access to their systems and data via the use of application programming interfaces (APIs). If banks embrace the concept, they will be able to become one-stop shops for the best products on the market, crowdsource the development of new services, and generate revenue by selling access to their data and capabilities.

Key Findings

  • Regulatory initiatives such as PSD2 in Europe and the Open Banking Standard in the UK are forcing banks to open up their systems to third parties, and this will hasten the rollout of open APIs.
  • Starling Bank and N26 are among those using the bank as a marketplace approach. Here, banks transform themselves into portals, using their open APIs to allow third-party services to be accessed from within their own platforms.
  • Fidor Bank is an exemplar of the bank as a service strategy. Startups and other entities that want to offer banking services to their customers can connect to Fidor Bank's capabilities via its APIs and build their own services and user interface on top.

Synopsis

Verdict Financial's "Open API Banking: Defining the Potential and Opportunities" explores the impact of open banking initiatives and assesses the various strategies that banks can employ. This report is based on findings from our Retail Banking Insight Survey, together with interviews with industry figures and secondary research.

The report offers insight into:

  • The current state of open banking and open API initiatives in the UK, Europe, and further afield.
  • The advantages and disadvantages associated with the main open API strategies banks can use.
  • Advice and recommendations for how to effectively deploy an open API strategy.

Reasons To Buy

  • Learn more about the distinct open API strategies a bank can deploy, together with the specific advantages and disadvantages associated with each approach.
  • Gain an understanding of the opportunities - and the threats - that open APIs will create for banks.
  • Discover more about how specific banks around the world are already using APIs, their rationale for doing so, and their experiences to date.

Table of Contents

EXECUTIVE SUMMARY

  • APIs have the potential to bring about an open banking revolution
  • Key findings
  • Critical success factors

DEFINING THE OPEN BANKING LANDSCAPE

  • Open banking will be the most important banking trend over the next few years
    • The free exchange of data will increase competition and benefit consumers
  • Consumers will benefit from access to enhanced services
    • Easier product comparisons
    • Safer use of account aggregation tools
    • Wider access to credit
    • Provision of enhanced PFM services
  • Consumers are put off account aggregation by security concerns
    • There is a reluctance to give external aggregators access to account information
    • Concerns about account aggregation are high among those who are the most favorable towards the concept
    • The use of APIs will address most consumer concerns
  • Several initiatives are pushing providers towards open banking
    • PSD is at the forefront of European efforts
    • The UK is pushing ahead with the creation of an OBS
    • The OBP in Germany has developed its own open API standard
    • US moves towards open banking are more limited

ALTERNATIVE OPEN BANKING STRATEGIES FOR BANKS

  • Bank as a marketplace
    • Table of Contents
    • Open API Banking: Defining the Potential and Opportunities
    • Page VFIA, Published September
    • Credit Agricole's CA Store offers customers a choice of in-house and external apps
    • Starling Bank will create a Marketplace Platform
    • N's Financial Hub enables full integration of services from other fintechs
    • Assessment of the bank-as-a-marketplace strategy
  • Bank as a facilitator
    • BBVA aims to replicate the success of AWS with its API_Market
    • Capital One has launched the US's first fully open banking platform
    • Monzo is encouraging developers to create bespoke apps based on its API
    • Assessment of the bank-as-a-facilitator strategy
  • Bank as a service
    • Fidor Bank offers a complete software-as-a-service solution for startups and non-banks
    • solarisBank operates exclusively as a banking service for fintechs
    • Silicon Valley Bank and Sutor Bank also offer banking as a service
    • Assessment of the bank-as-a-service strategy

OPPORTUNITIES AND THREATS FROM OPEN APIS

  • Opportunities
    • Banks can become aggregators for consumers with multiple relationships
    • Banks can boost customer acquisition and reduce attrition by becoming one-stop shops
    • Crowdsourcing of new products will let banks meet the needs of a fragmented market
    • Smaller banks can offer their customers access to a wider range of products
    • Integration of products from incubator and accelerator programs will be easier
    • Banks will be able to access external data sets for added consumer insight
    • Banks can open up new revenue streams by selling access to their own data
    • New revenue streams will arise from selling access to a bank's core systems
    • Banks can make it harder for particular fintech providers to become too dominant
  • Threats
    • Treating open banking as just a compliance issue will lead to competitive disadvantage
    • Banks may become disintermediated and commoditized
    • Loss of data control could result in damage to security, trust, and reputation

APPENDIX

  • Abbreviations and acronyms
  • Definitions
    • API
    • Open banking
  • Methodology
    • Interviews with industry executives
    • Verdict Financial's RBI Survey
    • Secondary research
  • Bibliography
  • Further reading
  • About Verdict Financial
  • Disclaimer

List of Tables

  • Table 1: Timetable for OBS implementation in the UK

List of Figures

  • Figure 1: A selection of the data available through TfL's unified API
  • Figure 2: Open banking will facilitate the development of third-party products and services
  • Figure 3: Consumers value the usefulness of account aggregation but worry about its safety
  • Figure 4: Information security is of the most concern to consumers who have the strongest opinions about account aggregation
  • Figure 5: There is strong resistance among account aggregation enthusiasts to using third-party services
  • Figure 6: Several banks have already implemented open API strategies
  • Figure 7: Credit Agricole currently offers 47 separate apps in its store
  • Figure 8: N26 will offer access to a growing range of third-party products via its Financial Hub
  • Figure 9: BBVA has enabled access to four specific APIs via its developer portal
  • Figure 10: Capital One's DevExchange is intended to boost the creation of external services
  • Figure 11: Fidor Bank provides clients with access to its core systems via open APIs
  • Figure 12: SolarisBank offers a full range of banking services to its clients
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