World Fintech Report 2019 by Capgemini Research Institute
Report preview - Summary will be released coming Thursday
The report talks about transition from Open Banking to a future phase called Open X. The key characters of this phase are seamless exchange of information and resources, enhanced customer experience and next level product innovation. The report also covers specialized roles which the financial players will adopt to.
Key Takeaways
Increased collaboration among players will lead to re-bundling of product and services due to convenient and dynamic platforms. Thus, provider of any one service is likely to become less critical than a banks’ ability to control user touch points to deliver superior CX for acquisition and retention.
The open ecosystem will lead players to strategically align themselves as per their core ability (specialization) to act primarily as a Supplier, Aggregator, or Orchestrator.
Collaboration among financial players such as incumbent banks, fintechs, third party service providers and policy makers will be the key to overcoming system uncertainties such as ambiguity around process standardization, regulations, and entity roles.
Full report: Get the PDF