Issue link: https://recursos.axway.com/i/1321495
30 Open Banking APIs State of the Market Report 2020 Fintech using open banking APIs is a subset of all fintech. Many fintech aim to offer their services to end customers. A growing number even offer APIs to allow their customers to integrate their fintech services with other offerings. But for this report and study, we look at the much smaller group of global fintech that are accredited to use bank APIs (in Europe, UK, Hong Kong, New Zealand, Australia, Singapore, Mexico and Bahrain). In markets without accredited registers of fintech, such as the United State, we look at those fintech for which banks and the fintech themselves have said they use open banking APIs. Amongst these fintech, there are several promising providers that are working in partnership with banks or simply as consumers of bank APIs to deliver new products to customers that draw on more innovative, ecosystem-based business models. PROMISING PRACTICES EMERGING FROM FINTECH USING OPEN BANKING APIs FINTECH DESCRIPTION PROMISING PRACTICE EUROPE White-labeled subscription management service for banks Now partnering with multiple banks. Not in direct competition with bank products. Extends financial health of customers Enables fintech to integrate with multiple banks through the aggregated accounts and payments APIs Coverage across 15 countries in Europe. Enabling business software to offer easy integration to their customer's bank accounts (eg account keeping software providers). Consumer and business savings and budget apps that offer unique data sharing revenue model with app users Now building relationships to offer product in partnership with banks to bank customers. Able to offer data products to enterprises and share revenue with app users. Also leverage loyalty and app usage as a marketing channel by offering discounts and cashbacks from enterprise retailers to app users. Realtime account data assessment services Replaces/disrupts traditional credit bureau and credit scoring markets by drawing on account information data to make more informed decisions on financial health, loan capacity and reputation scores of bank customers. PROMISING PRACTICES