Open Banking: A Strategic Change to Banks – The Playoffs
Explore how banks can go beyond OB compliance to create a simplified experience for end-users with increased efficiencies using Macro Global’s Open Banking solution-Tavas as a strategic partner.
“Open Banking is about making everything for sale. It provides a new way to
increase digital revenue for the banks that are willing to think differently. Open Banks
and FinTechs will continue to erode margins and customer relationships for those
banks that don’t.”
— Kristin Moyer, Research Vice President and Distinguished Analyst at Gartner
With the transition to the new open ecosystem, Open Banking poses a regulatory challenge for banks and builds a profound opportunity to create new business models for financial services and new value for customers.
The adoption of Open Banking formalises the relationship between Banks and FinTechs by establishing the Open Banking framework. An immutable shift to Open Banking has become inevitable which provides open access to customer account data and the payments infrastructure speeds up the FinTech market players to develop new
integrated service models.
In this white paper, we will highlight the key considerations for Open Banking implementations and explore how banks can go beyond OB compliance to create a simplified experience for end-users with increased efficiencies using Macro Global’s Open Banking solution – Tavas as a strategic partner.