Open Banking APIs and a regulatory push to open business models are driving banks to become platform businesses. A platform strategy can facilitate an efficient value exchange and create connections with new customers and new partners.

There are four platform banking models to consider as a bank makes the pivot to an Open Banking platform strategy.

Proprietary Platform
Proprietary platform

1 Sponsor : 1 Provider
In financial services, proprietary platforms use open APIs to make data accessible to developers and to offer finalized products to customers.

Joint Venture Platform
Joint venture platform

Many Sponsors : 1 Provider
In a joint venture model, a single provider may encourage collaboration among sponsors, such as fintechs, to create and control a shared interface.

Licensing Platform
Licensing platform

1 Sponsor : Many Providers
A licensing platform enhances network effects by using a single sponsor and a variety of providers to bring a visible interface to producers and consumers.

Shared Platform
Shared platform

Many Sponsors : Many Providers
In a shared platform, no single party controls development, and multiple parties may bring the interface to producers and consumers.

Accenture can help guide banks through the key implementation steps wherever they may be in their open platform transformation journey. Our banking clients benefit from innovative solutions developed to help build the organizational, functional and technical capabilities they need in the brave new world of Open Banking.

About the Authors
Senior Managing Director – Accenture Banking

Sulabh Agarwal
Managing Director, Accenture Payments

Maurits Olijve
Managing Director – Accenture Strategy, The Netherlands

Anupam Majumdar
Manager – Accenture Payments, The Netherlands

Rody van der Vliet
Technology Consultant – Accenture Technology Advisory, The Netherlands

Paul Weiss
Management Consultant – Accenture Payments, The Netherlands
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