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Chapter 10. Open Banking: Digital Payments Systems is a book available to read on EtoBox.

What is Chapter 10. Open Banking: Digital Payments Systems about?

Every industry is being disrupted by technology and changes in customer behavior, however it is regulatory changes for open banking that could drive the biggest change in banking. This chapter explores the challenges and opportunities for banks driven by open banking regulations, and looks at impact to the payments landscape. A Changing Landscape Banks and other traditional financial service providers, including insurers, brokerage firms and advisory firms, have dominated the financial services industry for decades. Until very recently banks faced minimal threat and competition, and so had no need to actively pursue the introduction of innovative services or to significantly improve the banking customer experience. Being able to manage customer acquisition, product development, sales, marketing, product management, customer experience, account information and data processing with ease, banks had clear control of what, where and how their financial services were consumed.But in recent years, this value chain has experienced significant disruption, resulting in a far more competitive, innovative and transformative banking landscape. A variety of factors have contributed to this subst

Publisher

De Gruyter

Published

2018

Language

EN