Identify New Revenue Opportunities in the Open-Banking Ecosystem

In the connected ecosystem of financial services, digital platforms are the most profitable and efficient business models.

Martin Stiller, IDC’s European Banking Analyst

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: