Four decades of watching commercial online banking evolve, propelled forward by emerging technologies and advanced communications, lead me to a simple conclusion: the single greatest challenge we face as an industry is harnessing new horizontal technologies to create high-value vertical solutions. A successful journey begins with a business model and a compelling customer value proposition. As basic as that sounds, many innovation projects fail due to the absence of a new or modified business plan.
API Banking, the first step on the path to open banking, is not “just another channel”. Rather, it represents a dramatic change in the way data and transactions are accessed and integrated into larger financial ecosystems.
Open Bank Advisors can enable any size financial institution plan for, and navigate, this exciting new phase of digital banking.