The question for many banks is how to become secure and
compliant in open banking. But the answer is not always
straightforward.
Per our research, over a third of banks are working on an
in-house compliance solution, and half are working on their
own enhanced data security solution. However, experience
suggests that many in-house solutions struggle, especially
when it comes to innovation and creating a smooth customer
experience.
STAYING IN-HOUSE OR
SEEKING THIRD-PARTY HELP
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THE RISE OF OPEN
BANKING
01
STAYING
SECURE
03
COMPLIANCE
ACTING AS A
CATALYST
04
THE FUTURE IS
OPEN. BANKS
NEED TO BE READY
06
BANKS
DELIVERING ON
OPEN BANKING
02
STAYING IN-HOUSE
OR SEEKING
THIRD-PARTY HELP
05
HOW DO BANKS PLAN TO INVEST IN DATA
SECURITY OVER THE NEXT 12 MONTHS?
HOW DO BANKS PLAN ON DELIVERING
OPEN BANKING COMPLIANCE?
Outsource to another provider
40%
Build ourselves
47%
No plans to invest
10%
Don't know / does not apply
3%
Source exclusively from a third party
23%
Augment existing services with a third party
37%
Build in-house
33%
No plans to deliver / invest
5%
Sopra Banking
Software's off-the-shelf
Open Banking
Compliance
Solution
means that banks
can become fully
PSD2 compliant in
just five days, without
changing their back-
office infrastructure.
It also provides
security features that
includes customer
authentication, PSU
consent management
and TTP management,
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