We asked 660 commercial bank customers about using Open Banking to win in the digital economy, and they gave us an earful. For example, 40 percent of large corporates and 31 percent of small businesses already participate in Open Banking ecosystem platforms. Banks have a unique, but brief, opportunity to help businesses optimize Open Banking and API innovation for an expanded ecosystem and extended reach. Banks that do can bolster these relationships and grow revenues. Before that can happen, however, banks must know—and meet—the Open Banking needs of commercial customers better than hungry competitors that want in or are even already in.
Accenture Open Banking for Businesses Survey 2018
The momentum of Open Banking has been around retail banking consumers. Consumers get hyper-relevant, always-on banking experiences that they have come to expect. But what about commercial bank customers and their expectations?