CUSTOMER FACING ECOSYSTEMS : A NETWORK OF INTERLINKED COMPANIES
BANKING
traditional financial needs and meet broader customer needs . They support their customers , becoming hyper relevant in their customer ’ s everyday life ,” stated Accenture .
CUSTOMER FACING ECOSYSTEMS : A NETWORK OF INTERLINKED COMPANIES
Within the banking industry , Accenture identifies five different options for organisations to develop and launch an ecosystem .
2 . Marketplace orchestrator This type of ecosystem allows banks to operate as a marketplace orchestrator through white labelling or co-branding . Marketplace orchestrators sell nonfinancial products to customers .
3 . Third-party ecosystem participant A third-party ecosystem is where banks can join a third-party platform to offer banking products to thirdparty customers .
46
1 . Life moments orchestrator With this type of ecosystem , banks can orchestrate ecosystems around specific life moments , offering partners access to their customer base in exchange for fees .
4 . Open banking platform Open banking platforms allow partners of banks to incorporate products , data or specific processes in their value proposition . With this ecosystem partners can leverage open application programming interfaces ( APIs ).
5 . Referral platform This banking ecosystem directs rejected customers to other providers , such as a large bank sending a small business to a designated online finance platform . However this ecosystem is not hosted on a third party platform .
MAY 2020