This was the Open Banking Summit 2024
At the Open banking Summit 2024 with over 150 participants and top-class speakers, the OpenBankingProject.ch once again demonstrated its importance as a vital business network […]
Continue reading »Author: Stefan Knaus
Stefan Knaus worked for a Swiss universal bank for ten years and gained extensive experience in private banking and private client business, including building up his own client book in investment and financing. He has been working in consulting at BEI since October 2020 and completed his Master's degree in Banking and Finance at the University of St. Gallen in summer 2023 while working. Stefan is passionate about the future of banking, digital innovations, football and road cycling, among other things.
Workshop series “digital customer proximity”
OpenBankingProject.ch is currently organising a series of workshops on the topic of “digital customer proximity”. Around 40 participants from 30 companies from the financial sector and beyond are examining various target images and use cases on how banks can use concepts such as open banking or embedded finance to position themselves closer to their customers. The aim is to support end customers with digital service access outside of banking and to assist them with banking data, products or services. In this blog post, Stefan Knaus presents the workshop series, the results of the first events to date and the content planned for the future.
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Recommended role profiles in the context of open banking for Swiss banking groups
The third and final part of this series of blog posts examines the suitability of strategic role profiles in the context of open banking (individualist, producer, distributor, and platform) for Swiss banking groups. The article illuminates that the size, business environment and geographical focus of the individual financial institutions have a significant influence on the choice of a suitable open banking strategy. It also presents business models of the future and analyses how big banks, cantonal and regional banks and private banks could position themselves with their service offering in the future.
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Strategic Role Profiles in the Context of Open Banking for Swiss Banks
In the context of Open Banking, four different role profiles can be distinguished that banks can assume: Individualist, Producer, Distributor and Platform. The role profiles are differentiated with regard to the distribution and creation of services and allow banks to put together a tailored, new business model in the individual banking areas. In the second part of this three-part blog post series, the individual role profiles will be described in detail and their impact on a bank’s business model will be illustrated.
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Implications of Open Banking for the Business Model of Banks
In order to implement Open Banking, the European Union has been pursuing a regulatory-driven approach with PSD2 since 2018. In contrast, Switzerland is currently one of the few countries like the United States, Argentina, South Africa, and China to pursue a market-driven approach. However, last December, the Swiss Federal Council addressed Swiss financial institutions with a clear message and wants to accelerate developments around Open Banking. The first part of this three-part blog post series presents the impact of Open Banking on the business model of Swiss universal banks.
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Cross-Company Data Exchange in a Cross-Industry Trust Network – Added Value for Customers, Companies and Partners!
More extensive business cases such as opening a bank account or an account with a FinTech require several minutes of time each for a low-value-added customer experience – wouldn’t it be great if you could skip all the tedious steps relating to data collection during onboarding and start right away with the advisory service or the effective satisfaction of your core needs? These and other questions have been considered for a little more than half a year as part of a workshop series of the OpenBankingProject.ch (OBP) and discussed together with more than 30 companies from the Swiss financial industry. This article is intended to provide an overview of the background, initial delivery results as well as the current state of knowledge of the efforts within the OpenBankingProject.ch workshop series.
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Sustainable Finance: A Step Toward the Circular Economy
Sustainability is on everyone’s lips and now impacts all regions and sectors of the global economy. Increasingly, financial industry stakeholders, including customers, investors, suppliers and regulators, expect financial services providers to play an active role in financing the transition from a linear economy to a circular economy. ESG criteria are a tool for companies to become more sustainable and to comply with the regulatory efforts of policymakers and regulators.
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