{"id":13055,"date":"2019-06-18T11:54:44","date_gmt":"2019-06-18T11:54:44","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=13055"},"modified":"2019-06-18T11:54:44","modified_gmt":"2019-06-18T11:54:44","slug":"the-ultimate-winners-of-open-banking","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/the-ultimate-winners-of-open-banking\/","title":{"rendered":"The ultimate winners of open banking"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">In the aftermath of the 2008 global financial crisis, European regulators found it important that banks have more competition and consumers have greater choice. This has eventually led to the era of open banking, which allows other organizations like tech companies to enter the financial services industry and provide modern, innovative solutions for an increasingly demanding consumer base. While it may have been conceivable 3 years ago that such tech players would come to dominate the financial services industry, data breaches and data privacy issues have given many consumers reason for caution. Ironically, open banking (something meant to bring greater competition to banks), may end up helping banks grow and become more successful.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the end, consumers want choice, freedom and the flexibility to create personalized services that add value to their lives. The ultimate winners of today\u2019s open banking era will be those organizations (either banks or tech companies) that are on the pulse of what consumers want and that can demonstrate their value and credibility within the market. &nbsp;<\/span><\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-13055 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Alfa-Bank launches new international marketplace platform'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/alfa-bank-launches-new-international-marketplace-platform\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/08\/Artboard-1-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-10523\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-10523'>\n\t\t\t\tAlfa-Bank launches new international marketplace platform\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Russia\u2019s problem with high-skilled expatriation'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/russia-s-problem-with-high-skilled-expatriation\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/03\/russia-s-problem-with-high-skilled-expatriation-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-12508\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12508'>\n\t\t\t\tRussia\u2019s problem with high-skilled expatriation\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='SmartPay financial inclusion wallet launched in Vietnam'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/smartpay-financial-inclusion-wallet-launched-in-vietnam\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/07\/smartpay-financial-inclusion-wallet-launched-in-vietnam-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-13319\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13319'>\n\t\t\t\tSmartPay financial inclusion wallet launched in Vietnam\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>In the aftermath of the 2008 global financial crisis, European regulators found it important that banks have more competition and consumers have greater choice. This has eventually led to the era of open banking, which allows other organizations like tech companies to enter the financial services industry and provide modern, innovative solutions for an increasingly &hellip;<\/p>\n","protected":false},"author":5,"featured_media":13063,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[198,10],"tags":[77,287,335],"class_list":["post-13055","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-europe","category-fintech","tag-customer-experience","tag-open-banking","tag-startups","b_post_type-the-fintech-world"],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/13055","targetHints":{"allow":["GET"]}}],"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=13055"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/13055\/revisions"}],"predecessor-version":[{"id":13056,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/13055\/revisions\/13056"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/13063"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=13055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=13055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=13055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}