# Banks

## Data Dictionary

<table data-header-hidden><thead><tr><th width="190.75871936223467">Component</th><th>Description</th></tr></thead><tbody><tr><td><strong>Component</strong></td><td><strong>Description</strong></td></tr><tr><td><strong>Definition</strong></td><td>Licensed banks publishing APIs</td></tr><tr><td><strong>Key characteristics of groupings</strong></td><td><ul><li>Type of bank</li><li>Country/region</li><li>Platform business model</li><li>Bank API products</li></ul></td></tr><tr><td><strong>Reference material</strong></td><td><ul><li>Dimensions of openness model from Markos Zachariadis: https://globalriskinstitute.org/publications/data-sharing-frameworks-in-financial-services/ </li></ul><p>There does not seem to be any agreed industry classification so we use wikipedia’s definitions of banking activities as a guide: <a href="https://en.wikipedia.org/wiki/Bank#Different_types_of_banking">https://en.wikipedia.org/wiki/Bank#Different_types_of_banking</a> </p><p>https://www.gartner.com/en/information-technology/glossary/bank-tier</p><p><a href="https://thebanks.eu/banks-by-country">https://thebanks.eu/banks-by-country</a></p></td></tr><tr><td><strong>Platformable’s taxonomy model</strong></td><td><p>Type of Bank</p><p>Platform business model: 5 streams (open, partner, financing (incubator/acquisition), BaaS, third-party marketplace)</p><p>API product category taxonomy</p></td></tr><tr><td><strong>Data Model items</strong></td><td><p>OB/OF Data Registry: <a href="https://airtable.com/tbltF2AW8iWrZysGn/viwPgzd3XvTOa1BgV?blocks=hide">https://airtable.com/tbltF2AW8iWrZysGn/viwPgzd3XvTOa1BgV?blocks=hide</a></p><p>Bank</p><p>Regulatory authority</p><p>Platform business model</p><p>API products and pricing strategies for each</p><p>Specifications used</p><p>Standards used</p><p>Authentication protocols used</p><p>Security technologies used</p><p>Developer experience resources made available (15+ measures)</p><p>Security breaches</p><p>Fintech partners</p><p>Open banking consumers</p><p>Known developer size</p></td></tr><tr><td><strong>Key indicator(s) used in scorecards/ranking</strong></td><td><p>Number of banks with API platforms</p><p>Number of API products by each bank</p><p>% of API products by each bank that are beyond the most common regulatory requirements (ie. payments information, account information, bank products/ATM locations)</p><p>Business models used by open banking platforms</p></td></tr><tr><td><strong>Methodology</strong></td><td><p>On a quarterly basis, review major banks in each country</p><p>Enter bank name + API to see if there is a platform</p><p>Add to database</p><p>Add API products, security, specifications, etc</p><p>Add any known users/customers/apps integrating</p></td></tr><tr><td><strong>How to display/visualise</strong></td><td><p>By: Bank, country, region, global</p><p>Map of the world showing half circles for platforms and bars for products</p><p>Trends line over time</p><p>RAG Scorecard for ranking compared with global</p><p>Bar chart (non-exclusive)  </p></td></tr><tr><td><strong>How to use in strategic analysis</strong></td><td><p>Demonstrate market growth/areas where open banking is gaining a foothold</p><p>Use API product data to demonstrate diversity/potential of new products that can be built</p><p>Use business models to identify opportunities and limitations in how open banking is being implemented, and robustness of banks to adapt to new digital business models</p><p>Create open ecosystem maps and country overviews of open banking ecosystem</p></td></tr><tr><td><strong>How to use in equity analysis</strong></td><td><p>Percentage of banks in a country/region that have open banking platforms could be used as a potential metric to determine the capacity for others to build financial inclusion apps and services</p><p>Other measures could include:</p><p>Number of new bank customers from unbanked/underserved groups</p><p>Amount of bank fees charged on open banking-related products</p><p>Number of bank loans/bank products provided via open banking services to previously unbanked/underserved customers</p></td></tr><tr><td><strong>How to calculate on scorecard</strong></td><td><p>For each country/region, we calculate an open banking score based on three factors:</p><p>% of banks in the country/region with an API platform</p><p>Number of API products made available by banks in the country/region</p><p>% of bank platforms in the country/region drawing on more than 1 business model</p><p>This measures the country/region’s open banking readiness, potential to create products/services, and viability/sustainability </p></td></tr></tbody></table>

## **Discussion**

**We review and measure open banking platforms globally every quarter and calculate their API product range, as shown in our quarterly trends report.**<br>

## **Roadmap**

**Diversity and size of API team**

**Revenue/impacts from open banking activities**

**Add data for each of the open banking dimensions in Zachariadis’ model**

**Annual revenue from Q4 of previous full year (total asset base?) represented in US$ millions or billions**

**Customer base, from last published annual report of previous full year**

**Fraud prevention measures**<br>


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