The Open Banking Ecosystem & A.I. in Banking
Banks:
Nordea
BBVA
Deutsche Bank
HSBC
JPMorgan Chase
Bank of America
Wells Fargo
Citibank
Barclays
Santander
ING
BNP Paribas
Société Générale
UniCredit
Royal Bank of Scotland
Lloyds Banking Group
Standard Chartered
Commerzbank
ABN AMRO
Rabobank
Fintech Companies:
Tink
Plaid
Yodlee
Truelayer
Stripe
Klarna
N26
Revolut
Monzo
TransferWise
Venmo
Zelle
SoFi
Robinhood
Acorns
Betterment
Wealthfront
Kabbage
LendingClub
OnDeck
Third-Party Providers (TPPs):
Mint
YNAB
Xero
Quicken
Personal Capital
Credit Karma
NerdWallet
Bankrate
The Ascent
WalletHub
Experian
Equifax
TransUnion
CreditWise
Clarity Money
Digit
Acorns Later
Qapital
Stash
Chime
Regulators:
Financial Conduct Authority (FCA), UK
Consumer Financial Protection Bureau (CFPB), US
European Banking Authority (EBA), EU
Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), Germany
Autorité de Contrôle Prudentiel et de Résolution (ACPR), France
Banca d'Italia, Italy
Banco de España, Spain
De Nederlandsche Bank (DNB), Netherlands
Finansinspektionen, Sweden
Finanstilsynet, Norway
Finanstilsynet, Denmark
Financial Supervisory Authority (FIN-FSA), Finland
Swiss Financial Market Supervisory Authority (FINMA), Switzerland
Australian Securities and Investments Commission (ASIC), Australia
Monetary Authority of Singapore (MAS), Singapore
Hong Kong Monetary Authority (HKMA), Hong Kong
Financial Services Agency (FSA), Japan
Financial Services Commission (FSC), South Korea
Banco Central do Brasil, Brazil
Comisión Nacional Bancaria y de Valores (CNBV), Mexico
Components and Architecture:
Data Sharing and Integration Platforms:
Amazon Web Services (AWS)
Microsoft Azure
Google Cloud Platform (GCP)
IBM Cloud
Oracle Cloud
Salesforce Platform
MuleSoft
Dell Boomi
Informatica
SnapLogic
Talend
TIBCO
Software AG
Red Hat
WSO2
Kong
Apigee
Layer 7
3scale
Axway
Benefits and Opportunities:
Innovative Financial Services:
Mint
YNAB
Xero
Quicken
Personal Capital
Credit Karma
NerdWallet
Bankrate
The Ascent
WalletHub
Experian
Equifax
TransUnion
CreditWise
Clarity Money
Digit
Acorns Later
Qapital
Stash
Chime
Artificial Intelligence in Banking:
Trends:
1) Increased adoption of AI across various banking operations
2) Integration of AI with other technologies like blockchain and open banking
3) Focus on enhancing customer experience through AI
4) Growing importance of explainable AI (XAI) in banking
5) Shift towards more personalized and predictive banking services
Applications:
1) Fraud detection and prevention
2) Risk assessment and management
3) Customer service and chatbots
4) Credit scoring and loan approval
5) Anti-money laundering (AML) and compliance
6) Personalized financial advice and wealth management
7) Process automation in back-office operations
8) Market analysis and trading
Functionality
1) Natural Language Processing (NLP) for customer interactions and document analysis
2) Machine Learning for pattern recognition in fraud detection and risk assessment
3) Predictive analytics for customer behavior and market trends
4) Image recognition for document processing and security
5) Data mining for customer insights and product recommendations
6) Robotic Process Automation (RPA) for routine tasks
7) Sentiment analysis for customer feedback and social media monitoring
8) Anomaly detection in transactions and user behavior
