Global Open Banking Partner Directory

In this episode of Open Banking Expo TV, Teresa Connors, head of bank proposition at Bottomline, and Ed Adshead-Grant, general manager and director of payments at Bottomline, join Open Banking Expo’s Ellie Duncan as they discuss the key takeaways and insights from ‘The Future of Competitive Advantage in Banking and Payments’ report published by Bottomline. The findings of the report are based on responses from 311 banking and FI players across treasury, fraud, operations, product, and C-suite in 34 countries globally. They were asked for their current strategic roadmap rollout for cloud/SaaS usage, real-time payments, ISO 20022 messaging, cross-border payments, fraud defence, treasury management, and Open Banking.

At last year’s Open Banking Expo it’s doubtful that any attendees need to be schooled on the basics. The pandemic has spiked its usage by consumers and business and accelerated use cases in the banking industry. As Experian reported earlier this year, it tracked more than 188 million data sharing requests (indicative of Open Banking) in the UK during February 2021. In February 2020, before COVID wreaked its early havoc, that number stood at just 44 million.

As one panel suggests, Open Banking is an “unstoppable force.” That may be the case, but to sustain the new way of working for banks, fintechs and customers, there’s work to be done. Open Banking is an enabler of innovation and introduces realtime aspects into any operation. The mastery of APIs is key as the foundation to open banking but the use cases need to be developed and implemented to prove out the power of the new open era paradigm. At Bottomline, the portfolio is growing under the OBaaS banner – Open Banking as a Service.

Across 16 quick questions get instant visibility on how your strategy and pain points compare with your peers in banking and payments. How do you measure up in meeting customer expectations and in your digital payments transformation strategy?