Open Banking

Embed financial services in customers' lives

Open banking is an important strategy for financial institutions to compete and grow. Banks can collaborate with Fintechs to deliver services as features within innovative distribution channels, create unique value propositions and differentiate through personalized digital experiences.

Creating Limitless Possibilities

Open banking enables financial institutions to use the wealth of data at their disposal to be truly innovative – launching new partnerships, new ways of engaging customers and new revenue opportunities.

By collaborating with Fintechs and openly sharing banking data with them, financial institutions can:

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Grow loans and deposits

Add services to expand into niche markets

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Build revenue

Generate fees and revenue share from Fintechs

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Accelerate digital transformation

Gain the agility to respond quickly to digital innovations

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Appeal to mobile-first customers

Offer new tools and streamline the journey

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Pursue new business models

Partner with popular apps to reach beyond banking channels

Open Banking Pushes the Limits of Financial Services

Banks that seize the opportunity to work with Fintechs and challenge “the way banking is done” can adapt and thrive in a changing world.

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Thinking Differently About Fintechs

Tap into their potential with the cloud, open APIs and real-time data

The Fiserv Strategy for Open Banking

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Create space for connection

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Leverage data

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Develop open APIs

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Launch app marketplace

Helping Banks Move Forward and Move Fast

To support financial institutions’ open banking strategies, Fiserv is opening our APIs to third parties using lightweight microservices and industry-leading cloud services.

Financial institutions can use our open banking toolset to move ahead with innovative and profitable initiatives:

  • Developer workspace: We’re giving Fintechs access to open APIs, enabling them to create and integrate new concepts in a secure developer workspace
  • Solutions marketplace: Financial institutions can explore and purchase innovative Fintech products pre-integrated into Fiserv solutions
  • Open banking platform: Banks can use a hosted platform to partner directly with Fintechs – delivering financial services as features within the apps and channels consumers use in everyday life

Synchrony Financial Recognized

Using open banking, Synchrony Financial underwent an incredible transformation and was awarded a 2019 Model Bank Award from Celent

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Have a question for us?

For more information about how Fiserv can support your open banking strategy, call us at 800-872-7882 or click below.

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