Open Banking PTBR

O Open Banking em uma era de transformação

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52 Open Banking APIs State of the Market Report 2020 While some exodus to fintech has not been the great threat it was once perceived to be, this isn't necessarily the case for SMEs who need to connect with a wide range of financial services and products and who want to be able to embed their financial transactions in their own product offerings. During COVID-19, these SME customers also need some greater cashflow support, as existing customers slow down their payment timelines, and in cases where demand levels have temporarily reduced. There has also been additional expenditure for SMEs as they have retrofitted physical workspaces to reduce physical COVID-19 transmission risks, or to finance staff to work remotely. Some banks have been slow to support their SME customers, which has driven SMEs to access alternative financial service providers to support them at this time. These SMEs are also increasingly looking for open finance solutions. Open banking regulations may not have been the toothed tiger that many expected, but open finance - while perhaps not bringing regulatory oversight - will further enable a range of other players to enter the monopolistic markets once held solely by banks. Open finance - or its offshoots like embedded finance - aim to allow consumers to access financial services wherever they are. For example, a merchant can embed an instant credit solution in their shopping cart or at the point of sale so that customers can access a payment installation plan at point of sale. Travel insurance can be booked at the time of purchasing a ticket. Small businesses can set aside their sales tax or pay monthly instalments automatically from their account keeping software. On the not-too-distant horizon, continued pressures from the global climate crisis will also impact on banks in the near future. Like with COVID-19, banks face new pressures on their balance sheets as real estate, farming and employment damage and volatility impact consumer ability to repay loans or maintain asset value. Consumers are placing increasing pressure on banks to move away from investments in carbon-heavy industries. And new regulatory requirements that may alter accounting processes towards new circular economy/whole-of-life accounting or carbon pricing models will require banks to alter existing business models.

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