Report

The Global Open Banking Report 2020 – Beyond Open Banking, Into the Open Finance and Open Data Economy

Report, published: October 2020

The Global Open Banking Report 2020 follows the journey from Open Banking to Open Finance and Open Data Economy and provides key insights about the benefits of Open Finance for different areas of financial service

Technological progress, changes in costumer behaviour, competition, regulations, the current Covid-19 pandemic, they all have forced financial institutions to step up their game, partner with agile fintech players, and create new, innovative products to help ease the customer journey. 

Structured in six comprehensive chapters, The Global Open Banking Report 2020 analyses the steps taken by (traditional) banks to open up and innovate, and provides insights into what they have learned, what the challenges are, but also regarding the opportunities brought by Open Banking. Moreover, the report features a mapping of the key Open Banking players (the glue that holds the ecosystem together), all while providing crucial considerations in order to achieve true digitalisation of financial services and make Open Finance a reality.

Some of the key topics discussed by the experts featured in our report:

  • The global evolution of Open Banking - Editorials from Boston Consulting Group (BCG), LUXHUB, Plug And Play, Payments Solved reveal what worked so far in the financial services world as a result of opening data and what further needs to be addressed to make Open Banking a real success.

  • Open Banking outstanding use cases and propositions - Editorials from Aite Group (Open Payments), BankiFi (Request to Pay - RtP), Deutsche Bank (eKYC for B2B segment), HSBC (FX Flexpay – automated international payments), ING (DealWise – digital shopping platform), J.P. Morgan (real-time view of cash balances), Senior Advisory (the benefits of Open Banking for the corporate world), Moneyhub (variable recurring payments), Starling Bank (APIs Marketplace), Trustly (Open Banking ePayments - OBeP), and Worldline (Green Banking) present open payment use cases that help companies to provide better payment experiences that replace legacy payment methods.

  • Building the Open Banking ecosystem in an agile and secure way - Editorials from Holland FinTech, INNOPAY, Raiffeisen Bank International (RBI), and company profiles from kompany, Ozone API, ThreatMark, TrueLayer, Typing DNA, and Unnax offer real examples and emerging technology ideas that accelerate the digitalisation of financial services.

  • Lessons for making Open Finance a success - Editorials from BBVA, De Nederlandsche Bank (DNB), ETPPA, and Konsentus, discuss what it takes to boost the uptake of Open Finance and how to remove the complexities associated with TPP checking.

  • Worldwide current state of affairs of Open Banking - Editorials from Open Banking Implementation Entity (OBIE), Bank of America (US), HSBC (Hong Kong), Kapronasia (Asia), Spiralem (LATAM), Sterling Bank (Nigeria), and The Digital Fifth (India) share particularities of implementation/approach in different areas across the globe.

Moreover, the Open Banking Report 2020 features a unique outlay of the Open Banking ecosystem in the guise of a thorough global infographic and industry mapping of the key solution providers and their core offerings and solutions. These are grouped under key categories such as: 

  • Open Banking enablers
  • API connectivity for payment initiation
  • API connectivity for data retrieval & value-added data solutions and services 
  • Consent management
  • TPP checking & repository
  • End-user solutions and propositions
  • Fraud/risk/security, and 
  • Bank in the box/banking-as-a-service/core banking infrastructure.

The Report is endorsed by leading industry associations and consultancies such as Holland FinTech, INNOPAY, and Plug And Play.

We greatly appreciate your feedback! 

Once you have had a chance to download and go through our Report, we would be more than happy to receive your opinions and suggestions. Please feel free to drop us a line at any time at editor@thepaypers.com

Specifications

Research Type Overview
Published 01 Oct 2020
Pages 134
File Type PDF
Size 13535kb
Geographic Scope    World
Editions Online & Mobile Banking