{"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='Blockchain citizenship registration begins in Zug, Switzerland'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/blockchain-citizenship-registration-begins-in-zug-switzerland\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/12\/Civics-1Million-Identity-Fraud-Protection-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-7394\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-7394'>\n\t\t\t\tBlockchain citizenship registration begins in Zug, Switzerland\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Smart POS Terminal Usage to Increase Over the Next 5 Years'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/smart-pos-terminal-usage-to-increase-over-the-next-5-years\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/07\/489a7938-2b6e-e888-7eaf-172451e8c4c91-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-16175\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-16175'>\n\t\t\t\tSmart POS Terminal Usage to Increase Over the Next 5 Years\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='5 ecosystem and B2B solutions for FinTech startups in Southeast Asia'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/5-ecosystem-and-b2b-solutions-for-fintech-startups-in-southeast-asia\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/07\/5-ecosystem-and-b2b-solutions-for-fintech-startups-in-southeast-asia-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13308\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13308'>\n\t\t\t\t5 ecosystem and B2B solutions for FinTech startups in Southeast Asia\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}]}}