Issue #11 - Unpacking Fintech Themes: Open Banking

Here’s the overview for the series of articles on:

1. Open Banking

2. Banking as a Service 

3. Embedded Finance

4. Embedded Fintech

Where it Fits

Open Banking (i.e. banks sharing customer data via API) is a catalyst for Embedded Finance (i.e. distribution of banking services by non-banks), and an enabler of both Embedded Fintech (i.e. integration of fintech offerings by banks) and Banking-as-a-Service (i.e. banks delivering services via API).

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Why it Matters

• fdata.global: Opportunities in Open Banking

• Financial Brand: Open Banking Provides Potential For Revenue Goldmine

• Fintechna: If open banking were a colour - it would be green

• Forbes: How Open Banking Will Quietly Edge Out Credit Cards

• Fortune: ‘Open banking’ tech could make the economy truly inclusive

• IBM: Global Open Banking Landscape

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Use Cases

• Bobsguide: Six use cases for Open Banking that will change how you view it

• Pymnts: B2B FinTechs Get Creative With Open Banking Use Cases

• Subaio: The 5 best use cases of open banking

• Tink: 5 open banking use cases European bankers are most investing in

• Zühlke: Open banking use cases that can be capitalised beyond banking

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Challenges

• Bobsguide: Unresponsive bank APIs causing open banking challenges

• EY: Open Banking Opportunity Index: where open banking is set to thrive

• Finextra: Americans trust banks over fintechs and Big Tech with personal data

• Open Banking Project: Open Banking | 8 Challenges for Regulators

• Pymnts: Reducing The Security Risks Of Open Banking

• Thales: Open Banking: Who Owns Your Data?

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Predictions

• Finance Digest: Trends in open banking in 2021

• Raconteur: “Open banking needs to become market led and allow banks to offer premium services for a charge. When their data becomes a profit line, resources will flow to improve services. We only need the regulator to stop oligopolies and abusive pricing.”

• Unit: Open Banking probably won’t stop with forcing banks to share their customers data. It will likely extend to any organization holding customer banking data regardless of who holds it.

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Key Players

There’s too many players to cover in this article, so here’s some links to great lists.

• Banq.ai: Open Banking Tracker

• FT Partners: Open Banking: Rearchitecting the Financial Landscape (deep dive report) 

• Paypers: Who’s Who in Open Banking in 2021

• Tracxn: Top Open Banking Startups

• UK Open Banking: Regulated Provider Directory

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Organizations

• fdata.global

• Open Banking Implementation Entity (UK)

• Open Banking Working Group (Euro)

• Open Banking Initiative Canada

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Thanks for the inspiration: Tarun Bhasin, Tim Cooper, Biao Hao, Seshika Fernando, Andrew Gilboy, Sarah Howelll, Dion Lisle, Jim Marous, Chris Nichols, Søren Nielsen, John Peterson, Scarlett Sieber, Ron Shevlin, James Varga, Craig Vosburg

If you have feedback or questions, please leave a comment!