An open API economy will accelerate competition and innovation within banking in Europe and beyond, creating new demands on banks’ business strategies, pressure on future revenue streams, and challenges to profitability.
Bank leaders of the future will have a clear focus on their end customers and markets and will collaborate with other organizations to accelerate their market position either through increased use of digital technology platforms and/or digital insight that supports their specific business strategies.
An open API economy will enable the delivery of new products and services through collaboration among business units within a bank, among banks across the industry, and between banks and other related sectors of the economy, particularly technology and data businesses.
This CGI whitepaper looks at how an Open API strategy can help financial institutions create new value.
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