Platformable’s Open Banking Quarterly Trends report is now available for free download.
Our goal is to help you analyse whether banking APIs are generating value, no matter where you sit in the ecosystem. As our 5 Wins Data Model describes, open banking and the introduction of bank APIs should create benefits for everyone:
- Banks should be able to modernise and implement new business models
- Fintech should be able to enter the market and build a viable customer base
- Consumers should be able to improve their financial health
- The Under-served should be able to gain access to financial services
- And the API industry should mature with large enterprise use of API tooling.
Open banking should be a tide that rises all boats. But is it, though? 🤔
By the end of Q1, there were 197 open banking platforms globally and 1434 API products available from banks.
If you are a bank, you can learn what API products other banks are releasing and see what sort of fintech are accredited and able to partner with you. You will learn about the global regulatory environment and developer experience best practices across the sector.
If you are a fintech, you can learn what other fintech are building, how the regulatory environment can be harnessed, what standards are becoming most prevalent, and insights into what succeeds with bank partnerships.
If you work with consumers or the underserved, you will gain data on whether open banking is creating the improvements in financial health that are expected and learn how to leverage regulation to ensure benefits flow on to consumers.
If you are in the API industry, you will learn what other API providers are doing to win bank and fintech clients, and how you should be positioning your business.
Our Quarterly Trends report begins to map available indicators. There is a lot of movement in the open banking sector, and our quarterly trends report series will help you keep up with emerging approaches and new opportunities.
Q1 is a bit of a prototype, so we are learning what data to present so that it is actionable from your perspective. Feel free to book a time with our team if you would like us to walk you through our findings and help you glean the most useful insights.
If you prefer, we would love your feedback on this edition, so please email us at email@example.com for our survey.
We are already working on the Q2 release, which will come out on 10 July. For this we will be expanding our coverage of fintech from Europe to global, and will be adding additional indicators on standards, security and consumer benefits.
If you want to dig into the data more, we can provide you access to the raw data from our collection, and help your team answer specific questions about the findings. Learn more by subscribing to our Platform Intelligence as-a-Service offering.
Please feel free to share amongst your networks, and download the Open Banking Quarterly Trends report now.