Join our first webinar session of Open Banking & neobanks webinar series on Thursday 9 May 2019 from 10:00am (New York time)/ 4:00pm (Paris time).

Open banking is coming, largely driven by regulators in Europe, the UK and Australia wanting greater innovation and competition. But also, by fintechs moving at pace and armed with a dizzying array of customer centric innovations, but few customers. Many retail banks are weighing business models and ecosystem partners to take advantage of the digital opportunities that arise.

Retail banks trusted-advisor status doesn’t come easily, nor should it be squandered. In some markets, fintechs are having to first prove they have the depth and credentials to handle customer details, without breach, before retail banks will play. Then it will be game on.

The opportunity is to build next generation business models and attractive value propositions beyond traditional banking life. The economics of customer acquisition and the rules of scale will continue to apply. As with all innovations, the few that get this right will grow and thrive. Many will not. Shareholders should be alert and asking what is the strategy for their bank?