What does AKB require to provide business applications and self-service processes to customers and suppliers? Open Banking Thesis (OBT)

Abstract

Open Banking increases both threats as well as opportunities for banks in Switzerland and Europe. There is a development from a closed classical banking system towards an Open Banking ecosystem. In a worst case scenario, banks could be placed more in the background as mere infrastructure providers and fintech companies and price-comparison websites might start taking over traditional banking services. AKB has identified this development of evolving banking ecosystems and would like to prepare for necessary steps to compete successfully in it.