Open Banking forces banks towards a fundamental rethink of their traditional banking business model and at the same time enables banking to become more customer centric. Exchanging customer data will create a new eco-system for incumbents and new entrants and will for sure increase competition. More importantly, open banking will facilitate the creation of new products and services that were previously impossible to imagine. The possibilities are innumerable.
This course will not only focus on technology and business changes but also will discuss and lay out scenarios for the future that Open Banking will create. New sources of revenue and new propositions will bring significant advantages. Also innovative banks have a real opportunity to challenge traditional banks looking at, for instance, the customer interface and therefore the customer relationship. The future of banking is far from certain. Understanding these swift developments and learning how to anticipate them is essential for bankers, regulators, and all key stakeholders in the financial services industry.