Open Banking and collaboration: State of the nation survey 2020
Finastra research of over 750 global banks and financial institutions reveals how Open Banking and collaboration is evolving around the world.
Finastra research of over 750 global banks and financial institutions reveals that the appetite for Open Banking is picking up pace, with 86% looking to use open APIs to enable Open Banking capabilities in the next 12 months. It’s an encouraging trend that paves the way for the next wave of innovation in financial services being created through collaboration on open platforms. But some barriers to Open Banking and collaboration remain and not all markets are progressing at the same pace.
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Global
How is Open Banking evolving?
Finastra research of over 750 global banks and financial institutions reveals that the appetite for Open Banking is picking up pace.
US
An appetite for Open Banking in the US
97% of US financial institutions surveyed agree that collaboration with third-party entities and fintech firms will serve as a driver of their businesses’ successes, higher than any other country surveyed.
Hong Kong
How is Open Banking evolving in Hong Kong?
A global survey of over 750 global banks and financial institutions by Finastra reveals Hong Kong financial institutions are leading in their intentions to deploy Artificial Intelligence
Singapore
How is Open Banking evolving in Singapore?
Finastra research of over 750 global banks and financial institutions reveals that the appetite for Open Banking is picking up pace.
UAE
Finastra reveals strong interest in Open Banking in the UAE
Finastra research of over 750 global banks and financial institutions reveals that the appetite for Open Banking is picking up pace.
1 Research was conducted online between 21 - 24 January 2020, amongst 774 financial institutions and banks across United States, UK, Singapore, France, Germany, Hong Kong and UAE. These financial institutions represent a gross total of just over USD$4.7 trillion in turnover over the last 12 months, employ approximately 4.9 million staff and have approximately 110 million client/customer/member relationships.
2 Comparative analysis was made from results from a similar survey run by Finastra in 2019 which was also conducted online in the UK, the US, Singapore, France and Germany (March - May 2019).
For further information contact: PR@finastra.com
