Microsoft:The new banking ecosystem - Understanding the true potential of open banking
In the digital era, innovation requires agility, and agility depends on openness—an openness of data and services, shared across business boundaries. This is why open banking should not be seen merely as a regulatory mandate for certain parts of the world, or a concern mainly on the retail side of the business, but as a call to action for transformation in the industry globally—and across all segments. In the commercial context of trade finance, capital investments, or specialized credit management, however, it may be difficult to see its potential. How can open banking make possible new business models, accelerate your time to market, and help you leapfrog the competition? This dynamic session will use illustrative scenarios to explore how commercial banks, fintechs, and their partners can combine their respective strengths to reach new commercial markets, offer new services to business customers, and create the new banking ecosystem.