March 16, 2022 –Almost every financial institution has developed APIs, and these institutions are now wondering what comes next. For too long, the topic of open banking has been discussed and presented only to remain a generic concept and an academic set of principles. If open banking is the answer, banks wonder what value the open banking framework can generate for their business.
This Impact Report gives pragmatic substance to open banking by providing indications and guidelines on implementing an ecosystem of applications for open banking. Aite-Novarica Group conducted interviews with 15 selected representatives from U.S. and European FIs and fintech vendors, to validate the composition of their open banking ecosystem, verify their readiness to build an open banking decision support system, and monetize the solution.
This 49-page Impact Report contains 41 figures and one table. Clients of Aite-Novarica Group’s Commercial Banking & Payments service can download this report and the corresponding charts.