Issue link: https://go.axway.com/i/1321495
10 Open Banking APIs State of the Market Report 2020 USE CASES WORKFLOW: 80% of API usage is by the bank's corporate customers extending bank capabilities to their internal systems. The bank has also begun specifically targeting retailers for partnerships. PRODUCT DEVELOPMENT: With additional open APIs such as a mortgage calculator API, developers have been able to build crowdfunded real estate investment platforms using the APIs. The product workflow includes KYC/identity, linking accounts, assessing mortgage value and risks, and linking payments into the real estate investment platform, all using the bank's open APIs. CONSUMERS & PARTNERS The bank has split their API program into two streams. Open APIs are available for any external provider to begin testing. Corporate and retail customers are able to link their own accounts programmatically to their Enterprise Resource Planning (ERP) systems. Accredited third party providers with a secure, tested use case can apply for production access to the open APIs to offer new products and services to their end users, who may wish to link the product to their bank account. In a second stream, the bank uses the open APIs portal to drive new partners to a partner API portal which is available to high value fintech and other providers. These fintech, that do not have a directly competitive product with the bank, are invited into longer term partnerships to build products for the bank's 5 million plus online and mobile customers. ONBOARDING GROWTH: Varies, up to 1000 new website portal visits each month USER FLOW: In-documentation testing of individual API calls and sandbox API available to test apps before applying for production access. MONETIZATION Free use of open APIs: Under PSD2, some APIs are required to be made available for free. This avoids friction being introduced into third party usage of APIs when creating financial products. Some testing of a Premium pricing model: While pricing structures have not been set, the bank has extended the functionalities of some APIs beyond the requirements of PSD2 and will test their value to users before setting pricing levels. Partnership model: The Open API portal also acts as a gateway to a partnership API portal for fintech and other providers with a unique value proposition that is not in direct competition with the bank's mobile products but which are considered potential high value for the bank's online customer base. VALUE GENERATED New account generation from third party providers using APIs to offer new services online, such as the crowdfunding real estate investment platform. Increased customer lifetime value from corporate banking customers linking their bank accounts to their ERP systems using the open APIs. Direct revenue generation through a revenue-share model from partners referred to the bank's partnership program from the Open APIs portal. Increased customer lifetime value from these partners offering value-added services to the bank's mobile and online customers. A MEDIUM-SIZED EUROPEAN BANKING GROUP WITH OVER $7.9 BILLION ANNUAL REVENUE, AND OVER 15 MILLION CUSTOMERS, HAS PUBLISHED A CATALOGUE OF 35 OPEN APIS 1 . BANK EXAMPLE 1: EUROPE AND SCANDINAVIA