IDC finds that European banks are seeking opportunities for data monetization, but only 20% are able to generate revenue from their data. Commercializing open APIs to build a banking ecosystem is still a challenge for many banks. Read this ‘IDC Technology Spotlight’ report to get the “how-to” of building a broader open-banking ecosystem.
Report Summary –
- Banks could sell insights to third parties to enrich and supplement customer experiences through the bank’s open API platform
- Bank-owned or external marketplaces allows consumers to source products from a broader ecosystem
- Banks can offer internal technology, resources, and capabilities as-a-service to the ecosystem
- Building new forms of strategic partnerships beyond banking will enrich the bank’s data and enable the delivery of new service offerings
- API management platforms allow banks to connect to the ecosystem and exchange data with key business partners
A complimentary copy of the report can be downloaded below: