Open Banking: A shared opportunity

Insights and perspectives in Asia Pacific represented by different parts of the open banking ecosystem, including incumbent financial institutions, fintechs, technology companies, consultancies and many more.

Download white paper

Open banking, which is based on data sharing, is poised
to be the next wave of digital transformation in the financial sector in Asia
Pacific. It is unlikely to be a short-lived trend, and has gained momentum
because of the extra push from regulators, who generally support it and in some
countries mandate it.

In this white paper, a joint venture by Microsoft, Linklaters and Accenture, in which our very own Rohini Goyal – APAC Digital Strategist at Temenos contributed to, explores the various drivers behind open banking in Asia Pacific, as well as the challenges financial institutions and regulators will have to address to ensure all participants can reap the benefits. In conclusion, the white paper offers recommendations to the industry and regulators towards the successful adoption and advantages of open banking.

This white
paper includes the insights and perspectives of over a dozen interviewees
representing different parts of the open banking ecosystem, including incumbent
financial institutions, fintechs, technology companies, consultancies and
others.

With open banking, “unless you’re adding value for the end customer, it won’t stick.”

Rohini Goyal, APAC Digital Strategist at Temenos

Download the white paper today to find out more:

Find out more

Open Banking and beyond – A customer-driven data economy

Scott Farrell’s talk on data, its challenges for banks and how to give back the choice, convenience and confidence to the customer in the way they share their data.

Open Banking and the Asia Pacific Financial Services

Attack is the best form of defense, so says the age-old adage. As cliché as this sound, banks, insurers, brokerage and advisory firms – traditionally known as the financial services…

The Future of the Digital Banking Experience in Asia Pacific

Have you ever been personally asked what you want from your digital banking experience and the type of journey you want to take? Our research results help answer this question and give some guidance on the next steps to take to ensure better digital banking experiences.

Open Banking: A shared opportunity

Insights and perspectives in Asia Pacific represented by different parts of the open banking ecosystem, including incumbent financial institutions, fintechs, technology companies, consultancies and many more.

Download white paper

Asia’s emerging markets are among the world’s fastest-growing economies, and their growth is fueling an expansion of the middle class, both in size and financial clout.

By 2030, the region will accommodate two-thirds of the global middle class population, according to the OECD. In China alone, the middle class is expected to swell to almost 1.2 billion people in the same time period. As a result, the world’s purchasing power center is gradually shifting from West to East.

This trajectory will have significant implications for the financial services industry, especially when it comes to wealth management. However, despite these changing dynamics, many in the sector remain focused on serving deep-pocketed clients. At Temenos, it is our view that Asia’s burgeoning mass affluent market offers vital opportunities, and fintech developments pave the way to make the most of them.

download report

Open Banking: A shared opportunity

Insights and perspectives in Asia Pacific represented by different parts of the open banking ecosystem, including incumbent financial institutions, fintechs, technology companies, consultancies and many more.

Download white paper

Open Banking: A shared opportunity

Insights and perspectives in Asia Pacific represented by different parts of the open banking ecosystem, including incumbent financial institutions, fintechs, technology companies, consultancies and many more.

Download white paper

However, this is not a one size fits all utopia, in fact quite the opposite. Payment owners need to carefully navigate and evaluate on a number of strategic choices available to them today via cloud. This is based on their business context and ranges from which cloud-based solution to opt for, and how it’s going to be deployed and delivered, to the scope of services they want to be covered in their arrangements.

This research report from Celent puts a spotlight on the key factors that payment leaders need to incorporate in their thinking when determining the right cloud solution for their needs.

Download Report

Open Banking: A shared opportunity

Insights and perspectives in Asia Pacific represented by different parts of the open banking ecosystem, including incumbent financial institutions, fintechs, technology companies, consultancies and many more.

Download white paper

Small and mid-sized banks and credit unions struggle to match big bank digital innovations and differentiate from their competitors. In order to compete and remain relevant, it’s clear that the way forward is to not build a digital wall between you and your customers or members.

With Temenos Engage, financial institutions are able to deliver meaningful experiences across all the critical moments when relationships are created, built, and cemented.

Download Human Middleware to discover how Temenos Engage can help you:

Redefine success with your customers or members
Build meaningful banking experiences
Reclaim your uniqueness

Open Banking: A shared opportunity

Insights and perspectives in Asia Pacific represented by different parts of the open banking ecosystem, including incumbent financial institutions, fintechs, technology companies, consultancies and many more.

Download white paper

To remain competitive, banks globally have responded, some taking leadership positions, whilst others are being dragged into digital sales very slowly.

This 2019 version of our annual report tells a story of maturity in one segment and an overall market still open with gaps and opportunities to differentiate from the pack.

In this study you will access:

State of digital sales in banking
Digital sales-readiness matrix

The findings in this report are based on an assessment of the digital readiness of over 80 banks in the Middle East, Africa, North America, Europe and Australia.

Open Banking: A shared opportunity

Insights and perspectives in Asia Pacific represented by different parts of the open banking ecosystem, including incumbent financial institutions, fintechs, technology companies, consultancies and many more.

Download white paper

The survey is part of a global research program on retail banking, which includes in-depth interviews with retail banks, fintechs, and regulators from North America, Europe, Africa and the Middle East, Asia-Pacific, Latin America.

In addition to the global EIU report, we have published a European specific report, looking at banks within the region. Key highlights include:

The largest share of European bankers (35%) see acting as a true digital ecosystem —offering both banking and non-banking services as the future of banking.
A quarter of respondents believe tech giants will be their biggest non-traditional source of competition by 2020; 31% believe that will be the case by 2025.
New technologies are the primary driver of change for retail banks, both in 2020 and up to 2025, overtaking changing customer behavior and demands for the first time.
Open banking and PSD2 is driving the agenda for European banks. Launching an open banking strategy is a top priority for the coming year for 29% of European respondents.

Find out what ABN AMRO, Nationwide, and bunq amongst other are thinking about digital banking, innovation strategies and where are they directing their digital investments.

DOWNLOAD EUROPEAN REPORT

DOWNLOAD GLOBAL REPORT

Open Banking: A shared opportunity

Insights and perspectives in Asia Pacific represented by different parts of the open banking ecosystem, including incumbent financial institutions, fintechs, technology companies, consultancies and many more.

Download white paper

Banks can provide a truly differentiated experience and edge beyond new competitors by adopting cloud-native digital banking software that will accelerate innovation and increase agility. But do they have the right mindset to take advantage of the disruptive technology, asks Max Chuard, chief executive officer, Temenos.

First published in The Banker, March edition, 2019.

Open Banking: A shared opportunity

Insights and perspectives in Asia Pacific represented by different parts of the open banking ecosystem, including incumbent financial institutions, fintechs, technology companies, consultancies and many more.

Download white paper

Banks and other financial institutions need to start thinking about putting in place the necessary processes and technology to consolidate customer satisfaction and advocacy.

‘Since 2016 and increasing year on year, there has been growth in interest and adoption of conversational interfaces for banking’

Dharmesh Mistry, Chief Digital Officer, Temenos

By downloading this white paper, you will learn about:

What is conversational banking?
Benefits of conversational banking
Conversational interfaces in banking
Conversational banking framework
Conversational banking vendors
The future

Download the white paper today to find out more:

Open Banking: A shared opportunity

Insights and perspectives in Asia Pacific represented by different parts of the open banking ecosystem, including incumbent financial institutions, fintechs, technology companies, consultancies and many more.

Download white paper

Digital means instant, transparent and seamless and increasingly, Islamic banking customers expect their bank experience to also offer this approach. Banking should be no different from interacting with those services that support our digital lives such as Amazon, UAE ride-sharing service Careem, and Google, etc. Fail to offer an intuitive, similar banking experience and you fail to meet the expectations of the new tech-savvy Generation Z audience that are soon to be your dominant target customers. Digital Islamic banking isn’t the future, it’s the now, but there are risks.

Cybercriminals love digital, in fact, smartphone platforms are the second most targeted platform by hackers after Windows. The GCC, in particular, is being hit hard. PwC’s 2018 survey Pulling fraud out of the shadows: A spotlight on the Middle East, highlights that fraud and economic crime has increased 12% in just two years. And digital banking is taking a major hit; according to 2017’s Norton Cyber Security Insights Report, 29% of UAE respondents had payment information stolen from their phones last year.

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