Open Banking PTBR

State of the Market Report 2018

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Amongst survey respondents, payments APIs are still seen as having the greatest potential value for open banking (prioritized by 67% of respondents). Other product categories highly valued as having strong open banking potential included account information APIs (58%), credit scoring (47%), business intelligence and customer profiling (44%), transfers (44%) and loans (33%). While the majority of survey respondents (44%) believed that banks should focus on more product APIs, almost a quarter of respondents felt better relationships with fintech should be a priority (24%) while 16% felt that the focus should be on improving existing open banking API products. Open APIs with most potential for open banking (N=64) Payments Customer profile/Business intelligence Big data on anonymized transactions Transaction/account history Transfers Risk management analysis Credit scoring Loans Exchange rates Account switching Insurance Location of ATMs/Branches Modify bank card limits Stock market prices Asset management External market/data information Other Small business loans/lines of credit 0 20 10 30 40 50 SLAs for third party providers 3.2% 44.4% More product APIs more partnerships with fintech 23.8% Better quality of existing APIs 5.9% More security of APIs 9.5% More AI/ML 3.2% What do you think banks need to work on next? (N=63) 30 State of the Market report 2018

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