Open Banking and the Future of Financial Services

July 4, 2017

Open Banking and the use of APIs is fundamental and not to be underestimated. Some banks have chosen to embrace concepts such as R&D and innovation incubation teams, unbundling monolithic IT systems into reusable service with the rising importance of APIs, and banks waking up to the strategic implications, some typical approaches can be observed. The approach an organization selects depends on the organizational history, context, and, more importantly, how they wish to survive and grow. In particular, for large incumbents, where there are different lines of business and entities, they may be acting on more than one approach in parallel across the organization.

Spotlight

Fannie Mae

We are looking for employees who are intent on helping us achieve something remarkable. Since 2009, we have made tremendous progress in turning our company around, responding to an unprecedented housing crisis, supporting our country’s recovery, and making housing better for the future.

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The ability to close the books, consolidate results, publish financial disclosures, and provide insightful performance reports in the least amount of time possible is widely regarded as a proxy for good corporate governance. However, the financial close and reporting process is weighed down by inefficiency and unnecessary information. Accounting and finance professionals must fight to manage and optimize an increasingly complex and disconnected ecosystem. The available amount of data is only going to increase, and CFOs are tasked with leading financial transformation initiatives to address the disparities. The pressure is on finance teams to modernize and improve.

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Perhaps more than any other industry, financial services firms understand the value of data. The sector is an early adopter of new technologies such as artificial intelligence (AI) and machine learning (ML). Keeping up with the latest digital developments is seen as essential to deliver great customer experiences, drive operational efficiencies and to manage risks and compliance.

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whitePaper | June 15, 2023

Asset managers headquartered in Europe saw their private market assets continue to grow in 2022, albeit more slowly than in previous years, and their total assets under management (AUM) exceeded €2.3 trillion (US$2.4 billion) by the end of the year. Institutional investors remain the region’s major allocators to private assets—European high-net-worth (HNW) and ultra-high-net-worth (UHNW) investors are still underexposed to private asset classes, although that is set to change.

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whitePaper | October 3, 2022

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Spotlight

Fannie Mae

We are looking for employees who are intent on helping us achieve something remarkable. Since 2009, we have made tremendous progress in turning our company around, responding to an unprecedented housing crisis, supporting our country’s recovery, and making housing better for the future.

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