Banks
Banking platforms
Data Dictionary
Component
Description
Definition
Licensed banks publishing APIs
Key characteristics of groupings
Type of bank
Country/region
Platform business model
Bank API products
Reference material
Dimensions of openness model from Markos Zachariadis: https://globalriskinstitute.org/publications/data-sharing-frameworks-in-financial-services/
https://www.gartner.com/en/information-technology/glossary/bank-tier
Platformable’s taxonomy model
Type of Bank
Platform business model: 5 streams (open, partner, financing (incubator/acquisition), BaaS, third-party marketplace)
API product category taxonomy
Data Model items
Bank
Regulatory authority
Platform business model
API products and pricing strategies for each
Specifications used
Standards used
Authentication protocols used
Security technologies used
Developer experience resources made available (15+ measures)
Security breaches
Fintech partners
Open banking consumers
Known developer size
Key indicator(s) used in scorecards/ranking
Number of banks with API platforms
Number of API products by each bank
% of API products by each bank that are beyond the most common regulatory requirements (ie. payments information, account information, bank products/ATM locations)
Business models used by open banking platforms
Methodology
On a quarterly basis, review major banks in each country
Enter bank name + API to see if there is a platform
Add to database
Add API products, security, specifications, etc
Add any known users/customers/apps integrating
How to display/visualise
By: Bank, country, region, global
Map of the world showing half circles for platforms and bars for products
Trends line over time
RAG Scorecard for ranking compared with global
Bar chart (non-exclusive)
How to use in strategic analysis
Demonstrate market growth/areas where open banking is gaining a foothold
Use API product data to demonstrate diversity/potential of new products that can be built
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
Create open ecosystem maps and country overviews of open banking ecosystem
How to use in equity analysis
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
Other measures could include:
Number of new bank customers from unbanked/underserved groups
Amount of bank fees charged on open banking-related products
Number of bank loans/bank products provided via open banking services to previously unbanked/underserved customers
How to calculate on scorecard
For each country/region, we calculate an open banking score based on three factors:
% of banks in the country/region with an API platform
Number of API products made available by banks in the country/region
% of bank platforms in the country/region drawing on more than 1 business model
This measures the country/region’s open banking readiness, potential to create products/services, and viability/sustainability
Discussion
We review and measure open banking platforms globally every quarter and calculate their API product range, as shown in our quarterly trends report.
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
Last updated
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