{"id":13049,"date":"2019-06-18T11:58:09","date_gmt":"2019-06-18T11:58:09","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=13049"},"modified":"2019-06-18T11:58:09","modified_gmt":"2019-06-18T11:58:09","slug":"time-for-european-banks-to-embrace-open-banking-business-models","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/time-for-european-banks-to-embrace-open-banking-business-models\/","title":{"rendered":"Time for European banks to embrace open banking business models"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Open Banking is making a significant impact upon the banking industry in Europe and encouraging more players to get involved in the financial services industry. In fact, newcomers have increased their share of revenue in the past year and now represent a third of the financial sector\u2019s total growth. This is important as Europe\u2019s financial sector also battles against increased competition from both the West (via tech giants like Google, Apple, Facebook and Amazon) and the East (via Chinese platforms). For European banks to stake a place for themselves going forward, it will be important that they move to the forefront of open banking and test which model(s) work best for them, be it bank-as-a-platform, bank-as-a-service or a multi-sided marketplace. At the end of the day however, it is important to remember that the bulk of revenue is found in financial products. As such, banks should be careful to manage what is \u201cnice to have\u201d versus is really necessary in the future of banking.<\/span><\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-13049 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='China\u2019s peer-to-peer lending crash'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/china-s-peer-to-peer-lending-crash\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/02\/china-s-peer-to-peer-lending-crash-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-12241\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12241'>\n\t\t\t\tChina\u2019s peer-to-peer lending crash\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Innovative solution for investments in Kazakhstan'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/innovative-solution-for-investments-in-kazakhstan\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/08\/Mesa-de-trabajo-1-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-10520\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-10520'>\n\t\t\t\tInnovative solution for investments in Kazakhstan\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='FinTech vs. regulations: can they learn to better coexist?'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/fintech-vs-regulations-can-they-learn-to-better-coexist\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/02\/fintech-vs-regulations-can-they-learn-to-better-coexist-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-12252\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12252'>\n\t\t\t\tFinTech vs. regulations: can they learn to better coexist?\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Open Banking is making a significant impact upon the banking industry in Europe and encouraging more players to get involved in the financial services industry. In fact, newcomers have increased their share of revenue in the past year and now represent a third of the financial sector\u2019s total growth. This is important as Europe\u2019s financial &hellip;<\/p>\n","protected":false},"author":5,"featured_media":13066,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[198,10],"tags":[49,287],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/13049"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=13049"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/13049\/revisions"}],"predecessor-version":[{"id":13050,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/13049\/revisions\/13050"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/13066"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=13049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=13049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=13049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}