"The
Report Banking as a Marketplace: Opportunities and Threats provides
information on pricing, market analysis, shares, forecast, and
company profiles for key industry participants. -
MarketResearchReports.biz"
"Banking
as a Marketplace: Opportunities and Threats" report explores the
opportunities and advantages offered by the marketplace banking model
for both new entrants and incumbents. This report is based on
interviews with industry figures and secondary research.
EU-wide
and UK-specific regulations will force banks to open up access to
their customer data by January 2018. Open banking will lead to the
creation of new business models, including banking as a marketplace.
Here, a bank integrates third-party services into its own platform,
effectively turning itself into a portal, or marketplace, where
consumers can access products from across the market in one place.
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Sample Copy Of This Report @
The
report offers insight into -
-
The status of regulatory developments that are driving open banking
initiatives in the UK and Europe.
-
The advantages of marketplace banking with respect to revenue
generation, product provision, and alliances with fintech providers.
-
The key risk factors banks need to consider when adopting a
marketplace strategy.
Scope
-
Marketplace banking will lead to higher revenues. Not only will banks
gain from charging access fees to partners, they will also be able to
share the revenues from the sale of partner products. They can also
access data generated by their partners to identify new opportunities
for targeted cross-selling.
-
Established banks can use a marketplace strategy to harness the
expertize of fintech specialists and improve the weakest offerings in
their product ranges in a cost-effective manner.
-
Marketplace practitioners need to guard against the risks associated
with sharing customer data with third parties. They also need to
minimize loss of control over product development by collaborating
with partners to co-create products, rather than passively
integrating off-the-peg products.
Reasons
to buy
-
Learn about the competitive and strategic advantages marketplace
banking can offer providers
-
Understand what potential risks and drawbacks are associated with
this model
-
Discover how banks in the UK and Europe are already implementing
marketplace strategies and what they are aiming to achieve.
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Report @ http://www.marketresearchreports.biz/analysis/1054383
Table
of Contents
1.
EXECUTIVE SUMMARY 2
1.1.
Marketplace banking will significantly alter the financial landscape
2
1.2.
Key findings 2
1.3.
Critical success factors 2
2.
CURRENT STATUS OF OPEN BANKING INITIATIVES 8
2.1.
The CMA has set a deadline of January 13, 2018 for implementing open
access to data 8
2.2.
The OBS is set to go live in Q1 2019 10
2.3.
Work continues to ensure PSD2 will come into effect in January 2018
10
2.4.
The US remains behind the UK and the EU with respect to open banking
initiatives 11
2.5.
The MAS is promoting open APIs 12
2.6.
Consumers are largely unaware of the concept of open banking 12
3.
MARKETPLACE BANKING IN DETAIL 14
3.1.
Marketplace providers challenge traditional banking structures 14
3.1.1.
Marketplace banking is ideally suited to new entrants 14
3.1.2.
Consumers will be presented with a safe environment for choosing and
using products 15
3.1.3.
Marketplace banks can choose the level of integration of third-party
services 17
3.2.
Marketplace banking offers new ways to generate revenues 17
3.2.1.
Access fees 18
3.2.2.
Commission fees 18
3.2.3.
Data-driven revenue 18
3.2.4.
New revenue sources will be particularly advantageous for new
entrants 18
3.3.
Marketplace banking offers significant opportunities for providers 19
3.3.1.
New entrants can become viable quickly and cheaply 19
3.3.2.
Established banks can improve their product ranges cost-effectively
19
3.3.3.
Banks can convert fintech providers from threats into allies 20
3.4.
There are a number of threats associated with marketplace banking 20
3.4.1.
Risks associated with data control and security are magnified 20
3.4.2.
The GDPR imposes clear data handling rules on banks 21
3.4.3.
Banks risk weakening their customer relationships 22
3.4.4.
Brand identities may become diluted 22
3.4.5.
Banks will lose direct control over product ranges 22
3.5.
New entrants are already using the marketplace banking model 23
3.5.1.
Starling Bank has the most advanced open API strategy in UK banking
23
3.5.2.
N26 in Germany has partnered with several providers to expand its
product range 25
3.6.
How should incumbents respond? 27
3.6.1.
Why should established banks adopt a marketplace strategy? 27
3.6.2.
What potential problems should marketplace banking practitioners be
aware of? 28
3.6.3.
What factors should be considered when adopting a marketplace
strategy? 28
4.
APPENDIX 30
4.1.
Abbreviations and acronyms 30
4.2.
Definitions 30
4.2.1.
API 30
4.2.2.
Open banking 30
4.3.
Bibliography 30
4.4.
Further reading 31
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