{"id":4672,"date":"2017-05-24T21:23:14","date_gmt":"2017-05-24T21:23:14","guid":{"rendered":"https:\/\/insights.invyo.io\/europe\/?p=4672"},"modified":"2019-07-30T14:01:26","modified_gmt":"2019-07-30T14:01:26","slug":"the-open-banking-revolution-is-getting-closer-and-closer","status":"publish","type":"post","link":"https:\/\/insights.invyo.io\/europe\/analyses\/the-open-banking-revolution-is-getting-closer-and-closer\/","title":{"rendered":"The Open Banking revolution is getting closer and closer!"},"content":{"rendered":"

Open banking is not just a trend anymore but a major\u00a0concern for most bank executives who are\u00a0expecting (waiting?) a big change\u00a0on their business in the coming years. <\/strong><\/p>\n

At least two forces are currently driving open banking: technology and regulation.\u00a0In Europe for example, the PSD2 directive is accelerating the trend to open banking to let third-part providers (TPPs) and Fintech access customers’ data. To make it possible, banks will have\u00a0to develop open Application Programming Interfaces<\/em> (APIs) to let any counter part access their system.<\/p>\n

\"\"<\/a><\/p>\n

Ron Shevlin<\/strong>, Director of research at Cornerstone Advisory and best-seller author of Smarter Bank<\/strong><\/a>, recently updated the new models of banks that are emerging with the rise of open banking (see the chart before from the Financial Brand).<\/p>\n

Open Banking: key figures<\/h3>\n

88% of banks<\/strong><\/a> expect PSD2<\/strong> to have an impact on their business.<\/p>\n

\n

Despite the high perception of risk, 44% of banks <\/strong><\/a>plan to provide an open bank offering <\/strong>in the next 5 years.<\/strong><\/p>\n

\n

64% of banks<\/strong><\/a> intend to integrate foreign products<\/strong> or functionalities into own digital offering.<\/p>\n

\n

In Europe, the budget to get a banking license<\/strong> is estimated at approximately \u20ac20 million<\/a>.<\/strong><\/p>\n

\n

Open Banking<\/strong>\u00a0by BNP Paribas<\/h3>\n

\"\"<\/p>\n

BNP Paribas is among the most active bank in Fintech in Europe and announced last February\u00a0a digital investment plan of $3 billion<\/strong><\/a> to ‘build the bank of tomorrow’.<\/p>\n

To be\u00a0the bank of tomorrow, BNP Paribas also has\u00a0to adopt an\u00a0innovative mindset<\/strong>, working closely with disruptors and connecting them with its employees<\/strong> to engage the whole group into this massive transformation. To do so, BNP Paribas hold various workshops all along the year with experts and entrepreneurs with\u00a0its latest event happening\u00a0in Paris next\u00a0Tuesday the 30th on Open Banking<\/strong>.<\/p>\n

Why you should come?<\/h3>\n

BNP Paribas opens its doors to connect\u00a0the most innovative\u00a0startups with BNP Paribas executives<\/strong>. Regtech and fintech startups will have the opportunity\u00a0to pitch their ideas<\/strong> on how their technologies can accelerate the open banking<\/strong> trend and solve key regulatory matters<\/strong>.<\/p>\n

Date:<\/h4>\n

Tuesday the 30th in Paris from 9:am to 2pm<\/p>\n

Location:<\/h4>\n

Pan Piper – 2-4 impasse Lamier – 75011 Paris<\/p>\n

Programme:<\/h4>\n

9:30 – 10:30: Fortia & BNP, a successful collaboration<\/p>\n

10:30 – 12:00: Speed Networking Sessions with\u00a0Regtech \/ Open banking players and BNP experts<\/p>\n

12:00 – 12:45: Demo<\/p>\n

12:45 – 14:00: Lunch \/ Networking<\/p>\n

\n

Techfoliance is partnering with BNP Paribas to connect decision makers with Regtech \/\u00a0Open Banking players.<\/strong><\/p>\n

Do not hesitate to contact us<\/a> if you have any questions regarding the event or want to partner with us to be connect with the most advanced innovators!<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Open banking is not just a trend anymore but a major\u00a0concern for most bank executives who are\u00a0expecting (waiting?) a big change\u00a0on their business in the coming years. At least two forces are currently driving open banking: technology and regulation.\u00a0In Europe for example, the PSD2 directive is accelerating the trend to open banking to let third-part […]<\/p>\n","protected":false},"author":2,"featured_media":4685,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[551,2184],"tags":[243,221,385,280,1000,1460,935,1279,1459,1462,808,809,586,1461,1463],"yoast_head":"\nThe Open Banking revolution is getting closer and closer! - INVYO Insights Europe : Media Fintech<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insights.invyo.io\/europe\/analyses\/the-open-banking-revolution-is-getting-closer-and-closer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Open Banking revolution is getting closer and closer! - INVYO Insights Europe : Media Fintech\" \/>\n<meta property=\"og:description\" content=\"Open banking is not just a trend anymore but a major\u00a0concern for most bank executives who are\u00a0expecting (waiting?) a big change\u00a0on their business in the coming years. 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