The financial world is moving toward an open banking structure in which banks can share data with trusted third parties after getting the approval of the customer, thereby building a financial ecosystem through interorganizational data transfer and the mutual transmission of business and services, thus acquiring new growth opportunities.
Open banking is not only a development opportunity for the financial industry, but it is also a challenge: How to break banking’s traditional technological structure and establish data and business openness? How to face the regulatory requirements for the security of technical systems? How to develop an open strategy and plan open business to cope with the impact of Internet scenarios and the ecosystem strategies of non-bank challengers?
TANSUN believes that domestic banks should focus on their own technological strategy and business layout when developing open business, with the basis of construction being open business management and control capabilities, and then build an open banking development plan suitable to their current development in a focused and phased manner. Due to our extensive experience in working with clients in the financial industry, in combination with our research and case practices for open banking business, we provide our clients with “full-journey open banking solutions” that include professional consultation services for open business planning and governance. Be implementing products on open platforms, we help banks, non-bank institutions, group clients, and other customers to commence and continue on the journey of their open business.