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
Download the full report ---> https://www.torryharris.com/analyst-speak/identify-new-revenue-opportunities-in-the-open-banking-ecosystem