An industry trends report

A comprehensive breakdown of the banking industry: challenges, next steps, and the role of API integration.

The State of Open Banking 2019 | Cloud Elements

Customer-centric banking started with Open Banking standards in Europe and the UK, but it’s grown far beyond that. Banks in other countries like the United States are following similar guidelines despite no legal requirement to do so. 

But why? Because Open Banking is a boon for growth and innovation - many FIs have introduced B2C digital banking solutions through this initiative that make banking easier for the consumer. And software companies that utilize these open data guidelines to create above-all user experiences are proliferating.

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90% of financial services companies have an API strategy, and integration is a critical factor in driving true open banking.


What does this mean for you?

Our State of Open Banking Report contains insights and predictions from chief executive officers in banking across innovation, technology, data, digital strategy, and product. The data collected from over 200 executives offers visualized trends and determines where the Open Banking industry is heading.

Download the report to learn about industry trends and insights including:

  • The impacts of regulation and PSD2 legislation 
  • Where banks fall in their journey towards transformation
  • The role of API integration
  • Internal cultural issues 
  • The competitive landscape of Open Banking