Client overview:
A leading financial institution sought to deepen its understanding of the transition from open banking to open finance. With a primary focus on financial network analysis, the client aimed to gain insights into global consumer perspectives, identify key players in the open finance ecosystem, and explore strategic growth opportunities within this rapidly evolving financial landscape.
Business Challenges
As the open banking landscape evolves, the bank needed a comprehensive understanding of customer perspectives on open banking and its transition to open finance. Additionally, the bank wanted to identify key players globally and understand their initiatives in open finance to inform its strategic approach. This knowledge would be crucial to staying competitive and aligning with industry trends.
Netscribes’ Solutions
Netscribes provided an in-depth analysis tailored to the bank’s goals, using targeted research and strategic recommendations:
- Financial Network Analysis and Opportunities: Conducted an assessment of the products and services driving the rise of financial networks, helping the bank understand opportunities in this dynamic market.
- Framework for open banking to open finance: Developed a detailed framework outlining the evolution from open banking to open finance, with a focus on the UK and US, enabling the bank to track industry progression and plan accordingly through financial network analysis.
- Go-to-market recommendations: Analyzed successful partnerships between banks and fintechs, presenting actionable insights on the role and potential of open banking initiatives in the UK and US markets, informed by comprehensive financial network analysis.
Impact
Netscribes’ solutions provided the bank with essential insights that enabled strategic decision-making:
- Industry overview: Clarified the bank’s role in integrated financial platforms, revealing the advanced adoption of open banking in the UK and US.
- Maturity assessment: Evaluated leading fintech players, highlighting their service offerings and potential for future open finance collaborations, aided by thorough financial network analysis to support the bank’s strategic planning.
- Partnerships: Identified prospective fintech partners to develop impactful financial platforms, supporting the bank’s growth in open finance.
Download the full case study
Interested in learning more? Download the complete case study to see how Netscribes empowered the bank to:
- Gain insights into open finance trends and major global players
- Identify gaps and opportunities in open banking services
- Plan strategic partnerships to enhance competitive positioning
- Align with market evolution from open banking to open finance
Use these insights, grounded in financial network analysis, to strengthen your organization’s approach to open finance and secure a leading position in a rapidly advancing industry.
