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Digital Banking and the Role of APIs, Apps and App Stores

by Kristin Moyer  |  December 11, 2013  |  Comments Off on Digital Banking and the Role of APIs, Apps and App Stores


Open banking uses APIs, apps and app stores to create radically different approaches to identity, data and intelligence, access and delivery, and location and context (customers, please see this research for more details). Because of this, open banking is a key enabler to becoming a digital bank. Banking apps are growing at more than 100% per year already. We think that by 2016, 75% of the top 50 global banks (by assets) will have launched an API platform and 25% will have launched a customer-facing app store.

Open banking is a differentiator today for early adopters like Crédit Agricole, Capital One, BBVA, Deutsche Bank, E-trade and others. However, it will become a necessity within 12 to 24 months to make progress with digital banking and compete effectively with other banks and nonbanks. Because of this, we believe that CIOs that have yet to launch open banking should include budgeting for strategy, planning and an initial launch in 2014.

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Tags: app-stores  apps  open-banking  public-web-apis  

Kristin R. Moyer
Research Vice President
14 years at Gartner
more than 20 years IT industry

Kristin Moyer is a Research Vice President in Industry Advisory Services/Banking and Investment Services. She has more than 20 years of experience across the global high-technology industry in a variety of roles. Ms. Moyer's research coverage includes… Read Full Bio

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