Corporate and transaction banking operating models are changing. In a report published in June, Coalition Greenwich describes a transformation from closed systems to open architecture.
Open architecture based on the cloud, application programming interfaces (APIs) and micro-services means faster innovation cycles and more flexibility in the use of technology, supporting better connectivity and collaboration with customers, fintech partners and developer communities.
Deutsche Bank is one firm trying to capture this change. It is rolling out its strategic technology stack based on an open, component-based architecture, explains the bank’s head of corporate and payment solutions, Christof Hofmann.
“Using a services based infrastructure with clearly defined APIs allows us to efficiently reuse features and react more quickly to specific market demands,” he says.
The Coalition Greenwich report suggests that the future banking model will create opportunities for new revenue streams from data and data analytics products.
Its authors note that while most of the...
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