DIGITAL BANKING
CUSTOMERS – enhanced financial literacy and control including a clearer view of their own data ; potentially higher financial inclusion as Product Providers may offer a wider risk appetite
BANKS AND OTHER ACCOUNT CUSTODIANS – open opportunities to redefine business models from being product providers to being financial marketplaces ; and identify new financial incentives for partnering with specialised providers
NEWER SERVICE PROVIDERS – open opportunities for new services to be devised and developed for streamlining literacy , best-choice and choice-execution . ( More on this in how AI will compliment Open Banking )