Open banking—a platform-based business approach—could revolutionize how banks generate value. With increasing pressures from regulations and competitors, open banking offers leading banks the opportunity to expose data, algorithms and processes through application programming interfaces (APIs) and create new revenue streams, like today’s successful digital giants. Banks are at risk if they fail to address open banking. They could miss out on platform-based business models and the strategies they enable. And they could fail to meet consumer demands for seamless digital experiences.

1. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
CHOOSING DIGITAL BUSINESS MODELS FOR
BANKS TO DRIVE NEW GROWTH

2. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
Open banking, a platform-based business approach,
could revolutionize how banks generate value.

3. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
BREAKING THE OLD
OPERATING MODEL
This approach offers banks the
opportunity to create new revenue
streams in the same way as today’s
most celebrated digital companies.
It starts by exposing data, processes,
and other business functionality to
customers, vendors and third-party
developers through application
programming interfaces (APIs).

4. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
OVERLOOKING
OPEN BANKING IS
RISKY BUSINESS
Banks could miss out on platform-based business models and
the strategies they enable.
• The top 15 public platform-based companies represent US$2.6
trillion in market capitalization worldwide.
• According to Accenture research, 84% of bank executives believe
platforms will be the “glue” that brings organizations together in the
digital economy.

5. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
OVERLOOKING
OPEN BANKING IS
RISKY BUSINESS
They could also fail to meet consumer demands for seamless
digital experiences.
• 41% of consumers in North America say they are comfortable giving
online bank account credentials to a third party.

6. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
DO AS
PLATFORM COMPANIES DO
Like Google, Amazon and Facebook, banks should operate with a business
model that connects people and processes with assets and a technology
infrastructure to manage internal and external users’ interactions.

7. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
IT STARTS WITH SPLITTING
Open and traditional banking can coexist, but they are different businesses.
Splitting into two different
organizations and choosing from four
digital business models, each with
different investments and
implementation risks, can offer the
best combination of traditional and
API-centric banking.
API-centric business models in banking

8. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
HOW CAN
BANKS OPEN UP?
Design engaging API experiences that
appeal to developers through user-friendly
developer sites, enhanced self-service
capabilities, and good API documentation
and testing.
1.

9. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
HOW CAN
BANKS OPEN UP?
Develop new operating models to take
into account organizational structures
that blend together product development
and IT operations.
2.

10. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
HOW CAN
BANKS OPEN UP?
Adopt a new mind-set and culture with
strong C-suite support backed by a
sound mix of different layers of
knowledge and expertise.
3.

11. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
HOW CAN
BANKS OPEN UP?
Create new business processes to
manage partner ecosystems efficiently
and effectively.
4.

12. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
Learn more about adopting the right digital business model to take
advantage of open banking and unleash new business value with
our full report:
@AccentureStrat Follow us on LinkedIn
OPEN
FOR BUSINESS
JOIN THE
CONVERSATION: