Open Banking is moving beyond compliance as new opportunities for value creation emerge, and the world starts to look to broader Open Finance. News of innovative models appear every week, both inside and outside the financial services domain, all designed to benefit end customers and deliver on priorities such as financial inclusion.
As banking globally moves into an API-first format, financial institutions will be discovered and interact through the APIs they publish. Even in markets where regulation does not require it, customer demand and changing trends are driving increased adoption of Open Banking.
As a competitive differentiator, it can help incumbent banks innovate and provide purpose-driven offerings. Banks have enjoyed customer reach, trust, and loyalty for decades and Open Banking can now help grow new revenue streams, enhance trust and channel access to a broader and connected ecosystem.
TCS BaNCS hosted a joint webinar with Fiorano and IBM. During the webinar, the speakers explored ‘Growth - the next chapter in Open Banking’ and how financial institutions can and should be leveraging microservices and technology to improve stickiness and accelerate growth.
- Vijay Ramachandran, Head, Ecosystems, TCS BaNCS
- Robert Brinkman, Infrastructure Architect for Banking and Financial Markets and Engineer, IBM Systems
- Biju Suresh Babu, Managing Director, Banking & Financial Services, Fiorano Software