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Treasury

Corporate banks wake up to the potential of data analytics

Banks are slowly realising the commercial promise of data and data analytics products, but there is still a long way to go for many institutions to move beyond services that deliver limited business insight.

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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.

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Christof Hofmann, Deutsche Bank

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 gains achieved through better use of data have so far been passed along to clients free of charge, that will change as banks leverage proprietary data on clients, industries and markets to create value-added analytical products.


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