Open Banking Industry Analysis, Future Growth, Open Banking Briefing, Key players, On-Going Trends, Forecast Reports

Albany, US, 2018-Jul-20 — /EPR Network/ —The market for Banking Industry is growing with the expansion of this Industry Sector Worldwide. Market Research Hub (MRH) has added a new report titled “Open Banking Industry Analysis, Future Growth, Open Banking Briefing, Key players, On-Going Trends, Forecast Reports” which offer details about the current trends and analysis, as well as scope for the near future. This research study also covers information about the production, consumption and market share based on different active regions. Furthermore, an anticipated growth at a double-digit CAGR for the Banking Industry is highlighted in the report which indicates a prosperous future.

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Summary

Regulatory and technological developments are driving the introduction of open banking, where consumers will have the power to grant third parties the right to access their account and transaction data. Banks that embrace the concept will be able to become one-stop shops for the best products on the market, crowdsource the development of new services, and generate revenue by selling access to their data and capabilities.

The single biggest factor that will determine the long-term success or failure of open banking is consumer adoption. Open banking has got off to a slow start, with low levels of public awareness and the failure of banks to meet the January deadline for API implementation limiting adoption to date.

Banks can employ a number of different strategies to exploit the opportunities afforded by open banking. Using the bank as a marketplace strategy, banks will transform themselves into portals, using their open APIs to allow third-party services to be accessed from within their own platforms.

Open banking widens out the lending value chain to encompass third party providers. These comprise both full-service lenders and specialists that deal with specific aspects of the lending process. They will use one of two key distribution strategies: either using a banks marketplace for third-party products or direct-to-consumer distribution.

Scope

This report provides a comprehensive analysis of open banking, including a detailed examination of the key players shaping the new environment. The report offers insight into –
– How open banking will disrupt existing value chains in retail banking
– The technological, macroeconomic, strategist, and regulatory factors that are driving open banking
– Which providers are currently taking a lead in exploiting the opportunities afforded by open banking.

Reasons to buy

– Understand how open banking will affect how you can generate value in lending, payments, and the provision of account information services.
– Learn which of your competitors are leading the way in open banking and what they are doing.
– Equip yourself to deal with the disruption that open banking will cause in lending, savings and investments, credit scoring, account information services, payments, insurance, and loyalty schemes.

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Table of Contents

-PLAYERS 3
-OPEN BANKING BRIEFING 4
-TRENDS 5
-Technology themes 5
-Macroeconomic and strategic themes 6
-Regulatory themes 7
-INDUSTRY ANALYSIS 10
-Lending and account information services will be the most affected activities 10
-Market size and growth forecasts 11
-Timeline 12
-THE LENDING VALUE CHAIN 13
-Banks will create marketplaces to distribute third-party products 13
-THE PAYMENTS VALUE CHAIN 15
-PISPs are well-positioned to dominate the new landscape 16
-THE ACCOUNT INFORMATION VALUE CHAIN 17
-Consumers are receptive to account information services 18
-SMEs will adopt account information services more quickly than consumers 19
-COMPANIES SECTION 20
-Banks 20
-Vendors and facilitators 22
-Account information and PFM 24
-Payments 25
-Savings and investments 26
-SME lending 27
-Credit scoring and profiling 29
-Insurance 30
-Loyalty 30
-GLOSSARY 31

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