Enabling a European Challenger Bank Disrupt Their Market Using Open Banking
A fast growing large private equity owned European challenger bank.
Pacemakers was invited to provide digital banking advice on how to best implement a strategy study completed by a global management consulting firm.
We supported our client in identifying the right partners to deliver a solution capturing the new opportunities resulting from PSD2 and Open Banking regulation.
Advised on the breaking up of the opportunity into three tranches:
The selection of an API platform provider,
The enhancement of their data analytics capability,
The creation of an internal proposition development and innovation division.
Delivered a partners short-list that included global firms, local champions and select early stage firms
Supported the launch or the formal selection process for all tranches.
The API Platform tranche RFP was completed in Q3 2017, generating a savings in excess of €1.1m compared to the bank’s initial forecasts.
Bank API platform and Data analytics delivered. Innovation factory in progress