World Banking as a Platform Report 2017: Adoption of Banking as a Platform Frees Financial Institutions to Individualize Banking Service Delivery in Concert with Fintechs

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04 Sep, 2017, 15:45 GMT

DUBLIN, September 4, 2017 /PRNewswire/ --

The "Banking as a Platform: API Technology Presents Opportunity to Financial Institutions" report has been added to Research and Markets' offering.

Banking long entailed a visit to a solid, citadel-like building that served as a repository of assets and financial knowledge. But we've become accustomed to a more open design in branch offices. Form is following function. Banking is becoming a more open and fluid undertaking, and FIs are adopting variations of the "banking as a platform" (BaaP) strategy to position themselves for the rapid pace of change underway. BaaP represents a profound change in the speed of access to technology innovation in products, services, and interaction channels across the values stack. Modularity and standardization of service delivery component outputs empowers financial institutions to configure themselves and their solution sets to fit the individual needs of consumers, according to the research report, Banking as a Platform: API Technology Presents Opportunity to Financial Institutions.

This report examines the use of the platform approach for financial institutions to achieve flexibility and agility in leveraging the expansive change being driven by technological innovation across industries. Banking as a platform enables FIs to better balance continued reliance and tried and true processing systems with nimble adoption of technologically enabled avenues of direct interaction with consumers.

Highlights of the research note include:

  • Review of the banking service delivery models afforded to financial institutions employing banking as a platform, or BaaP
  • Examination of the paths available for financial institutions employing a BaaP strategy
  • What large, midsized, and community FIs may expect in terms of support and benefits
  • How componentization of banking process delivers individualized service
  • The role and impact of regulatory agencies and market pressures across global markets
  • A sample of potential opportunities that BaaP introduces for FIs and their fintech partners.

Key Topics Covered:

1. Executive Summary

2. Onto the Platform

3. Componentization

  • Application Programming Interface (APIs)

4. Collaboration

  • Data Aggregation

5. Oversight and Compliance

6. Banking as a Platform Today

  • Large Financial institutions
  • Bank Processors
  • Expanding Access to Tools

7. APPlicability of Data

  • Online Banking
  • Mobile Banking
  • Personal Financial Management
  • Robo Advisors Enhanced with Machine Learning
  • Chatbots

8. Conclusions: The Road Ahead

  • Endnotes

Companies Mentioned

  • Citibank
  • D3 Banking
  • Envestnet | Yodlee FIS
  • Intuit Jack Henry
  • JP Morgan Chase
  • Personetics
  • Temenos
  • Wells Fargo
  • Xero
  • Zelle

For more information about this report visit https://www.researchandmarkets.com/research/l82k22/banking_as_a

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