Open bank's business platform

Edit Introduction: Open banking refers to sharing customer data with other institutions when the customer allows authorization to better serve. The author of this article analyzes the trend, core function and business platform of open banks. Let's take a look.

Open Bank originated in Europe, and Europe shared customer data through the API interface. my country's exploration of open banks focuses on the opening of business, products, and technology. In 2018, Pudong Development Bank proposed the "Bank-As-A-Service", and some institutions also proposed the concept of "bank as service".

According to the definition of the Basel Commission, the open bank states that when the customer allows authorization, the customer data shares the customer data to the third party and the fourth party to develop banking services, including real -time payment, help customers better manage financial accounts, markets, and markets. Marketing, cross -sales opportunities, etc. Open banks allow customers to use banking services in other service scenarios (such as fintech scenarios), thereby innovatively integrating banking modules and non -bank functional modules. The relationship between banks and customers has changed from "owner" to "shared customers".

1. Open banking trend

With the development of the modern banking industry, the underlying technologies represented by artificial intelligence, big data, and cloud computing, etc., deeply affect the internal structure and external environment of banks. Starting from the two levels of technology and business, more and more banks have begun to pay attention to the issue of open cooperation between strategy and details. At the same time, "opening banking" is not just a specific technology or business solution, but an important direction for the strategic transformation of the banking industry in the fintech era.

Most open bank activities are performed through APIs. API has the characteristics of expanding, reusable, security, and self -help developers. Technical standards such as data transmission, data exchange, data access, and API design.

According to access features, it is divided into different types such as private API, partnership API, member API, acquaintance API, and public API.

The development of open banks is closely related to the supervision of personal data and privacy protection. Representative regulatory documents include: EU "Payment Service Act", "General Data Protection Regulations", "Open Bank Standards", and "Data Security Law (Draft)" released by my country in July 2020.

The main participants include:

Customer (data owner) bank (data producer) API (data distributioner) Data aggregation bank banking "decoupled" its products into services, functional modules and even raw data and distribute external distribution through the API. Third -party institutions are provided to customers to integrate these services, functional modules, and data into their own business. For example, the financial management APP aggregates the account information of customers in different financial institutions into a general table, and seamlessly pays to connect to different bank accounts.

There are the following reasons for the rise of open banks in my country:

1) Building products and services centered on customers, customers have their own data ownership and other principles

Open banking and API make the business integration of cross -bank business possible, significantly improved the user experience. Customers' data in the bank is owned by themselves and can be carried. After integrating the API, they can open up the "Data Island" and maintain the integrity of the customer's interests. For example, customers can open accounts in multiple banks and handle "deposit and loan remittances" business.

2) Customers call the bank function module independently through the API according to their needs, grasp the initiative of financial services, and improve the self -helping of financial services

Open banking can deeply penetrate the application scenarios and close to user needs, and provide personalized and scenario financial products and services. The bank becomes a toolbox that can be called anytime, anywhere, and needs to be called.

3) The trend of bank business platformization

After the decoupling re -combination, it is provided by the market formed by the bank and the third -party institution. Third -party institutions have a neutral position connecting different banks, have a deep understanding of the corresponding scenarios and customer needs, and are sensitive to cutting -edge technology.

The specific form of the banking business has been evolving with the changes in technology and regulatory environment, and there are constant sounds that have proposed the concepts such as banks or de -intermediary, decentralization, and subverting banks. From the perspective of shadow silver and fintech, many business that belongs to banks has become through the market division of labor networks, but banks still play a core role. Some auxiliary functions are decoupled and outsourced out of the market.

Second, bank core function and business platformization

The core functions of bank currency creation, term transformation, and trustee supervision must be performed by the bank themselves.

The core function of the bank is to regulate the balance of funds and transfer funds from the savings (fund suppliers) to the hands of people or institutions (fund demanders) with investment and consumption plans. Banks can solve the problem of not matching the period between the funds supply and demand. The terminal conversion function of the bank is accompanied by liquidity conversion. Trusted supervision, banks and some non -bank financial institutions are conducting, but there are great differences with banks in terms of breadth and depth.

The important social function of the bank is to create deposit currencies by issuing loans and purchasing bonds. Only bank lending will accompany liabilities (deposits) to grow. In private sector institutions, only banks' liabilities can exercise currency functions. The value of bank deposits is stable and can be exchanged for central bank currency, which is essential for the balanced operation of the economic and financial system.

The bank's prudent supervision (that is, the Basel Agreement), which is supervised by the capital adequacy ratio, liquidity and leverage, to ensure the security and stability of the bank through the risk of controlling the bank in advance. Loan support and deposit insurance system. The bank's credit supply and trustee supervision function can be performed by non -bank financial institutions to a certain extent.

The term transformation function has high internal risks, and banks are more suitable for executing this function. Many institutions try to "copy" the banking period conversion function: shadow banks represented by the loan market fund, stable currency represented by LIBRA, my country's P2P online loan (to meet the period conversion demand to the "capital pool" model), trust trust), trust), trust), trust The company's capital pool model, Internet small loan company+asset securitization model.

The bank's currency creation function is irreplaceable.

3. The core element of bank business platformization

1. Bank business platform background

After the international financial crisis, financial institutions contracted the supply under strong supervision and outsourced some businesses.

The development of technology has blurred the boundary between the financial market (direct financing), financial intermediary (indirect financing), and other financial service providers.

Regulatory standards cause the problem of supervision arbitrage.

2. Bank business platform

Open funds, accounts, clients, data, technology, scenes and reputation to third -party institutions.

1) Fund

The bank will outsourcing some links (marketing, exhibition, credit, signing, lending, payment, tracking, recycling, etc.) to the cooperative institutions, and sharing risks and income with it, which is worthy of attention. direction.

2) Account

Bank accounts are divided into settlement accounts and non -settlement accounts. The settlement account is used to handle payment settlement. It has the function of receiving and payment, and the account balance often changes. Non -settlement accounts change only when depositing, calculation, and withdrawal.

The difference between the account system and the Token system is the key to understanding the central bank's digital currency. Account levels, including central bank deposit reserve accounts, bank deposit accounts, payment accounts, etc. Token transactions are settlement. There is no risk of settlement. It is a point -to -point topological structure. Any two addresses can be traded directly. These characteristics that are different from the account system are the key to the central bank's digital currency to promote financial inclusiveness and improve cross -border payment. Essence

3) Customers

Customers are the core resources of the bank. The relationship between banks and customers is the key to understanding bank loan technology and loan supply behavior. Bank loan technology is mainly divided into two types: trading loans and relational loans.

4) Data

Under the open bank, banks hold customer data, and shared through the API under the authorization of customers. The customer data of different banks did not, but the data of the same customer was summarized through the API.

5) Technology

Technology has gradually moved from the middle and backstage of finance to the front desk. Some financial institutions are increasingly similar to technology companies in terms of personnel and cost structure. In addition to their own services, they also have the ability to output external output and output risk management capabilities. In fact, the open bank strategy of many banks in my country is mainly technology opening.

6) Scenery

The scene is the concept of the financial field introduced from the Internet field. Scene represents a set of clear economic and social activities, and the introduction of financial services can improve the efficiency and user experience. For financial institutions, we need to develop scenarios and embed the scene.

7) Reputation

If a bank is involved in financial activities, it can play a role in increasing credit to a certain degree. The endorsement of banks based on its own reputation is also an important direction for banking business platforms.

Fourth, summary

Open banking is the bank that opens its own financial services, and opens its own technologies such as safe Open API or SDK to high -frequency scenarios and customers. Its essence is that banks have given up a single -cost direct selling method of direct sales, and converted to cooperation with online and offline high -frequency large traffic scenarios to output accounts, payment, deposits, transactions, financing products, investment products and other financial services. Obtain customers with faster, higher frequency, and lower costs, and provide extremely convenient scenario and personalized financial services.

Open banking business platform is guided by user needs, with scene services as a carrier, and a platform that is empowerment and ecological integration as the platform, and creates an open cooperation platform; Quickly access, open the digital and service scenarios of the enterprise industry chain, and realize the comprehensive connection of information flow, capital flow, logistics and the common operation of the industry.

Business classification generally includes:

Account output aggregation payment loan API investment financing financial financial big data operation service data privacy protection centered on digital transformation of the industry, build a unified ecological service platform, and create a financial-platform-customer new value chain.

General access process: Enterprise settled in -creation application -signing products -development debugging -product launch.

The banking platform has brought great challenges to bank supervision, and risks have become hidden and complicated. Evaluate the risks and scale undertaken by the bank, and introduce the supervision requirements of capital adequacy ratios, liquidity and leverage in a targeted manner.

Improve the supply of financial products and improve the efficiency of financial services.

This article was published by @zoey's original publishing. Everyone is a product manager. Reprinting

The title map is from Unsplash, based on the CC0 protocol

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