This white paper will present an overview of the change in the banking ecosystem as it relates to building partnerships with non-traditional financial organizations.
It will look at the expanded definition of the banking relationship beyond traditional banking services to include investments, insurance, wealth as well as non financial services including telco, eCommerce, hospitality, travel, etc with the use of APIs.
There will also be a reference to big tech firms and how they may define the future financial services/eCommerce ecosystem. The conclusion will include a chart of the playing field and the positioning of various current and future players.
The outcomes of the report will be a guide for organizations evaluating working with non-traditional providers and a discussion of options regarding how different banking ecosystems would work.
Keywords : API/Open banking , Fintech , Innovation , Business strategy/Model