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2022 | Book

Introduction Read chapter Read first chapter

Open Banking

Repositioning of European Financial Institutions

Author: Markus Bramberger

Publisher: Springer Fachmedien Wiesbaden

Book Series : essentials

Part of: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

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About this book

In this essential, Markus Bramberger examines the development of open banking and its products in Europe. The author answers specific questions about possible substitution scenarios with regard to traditional - non-opening - financial institutions. Against the background of this challenging, risky, but also opportunity-generating time in the financial sector, the reader acquires a focused knowledge of open banking and FinTech topics.

Table of Contents

Frontmatter
Chapter 1. Introduction
Abstract
Triggered by a wave of digitization, processed by powerful, mostly mobile devices such as smartphones or tablets, customers see added value primarily in the so-called “third-party provider” (3rdPP or TPP).
Markus Bramberger
Chapter 2. Reasons for Opening up the Banks: Opportunities and Risks of Substitution
Abstract
Various players, ergo participants, share the European payment traffic network, namely the European payment traffic market in retail banking on the one hand and in corporate banking on the other. Some of them work with different payment methods and are active in different parts of the value chain. The competitive landscape is also very diverse. This results in a complex and highly fragmented market (Barrie et al., 2016, p. 9).
Markus Bramberger
Chapter 3. Open Banking Operations
Abstract
It is only in recent years that the concept of open banking has become more common. A term that cannot be defined by simple explanations. Open banking programs attempt to profitably exploit disruptions in post-PSD II payment traffic.
Markus Bramberger
Chapter 4. Pros and Cons of Opening Banks
Abstract
Imagine Facebook, the email provider or even banks automatically make special payments from an account. The electricity tariff is automatically adjusted and optimized, and travel insurance is automatically taken out before a holiday trip. All this is possible with the PSD II. The clear and obvious aim of the EU Commission is to stimulate competition in the European banking and, specifically, payments market.
Markus Bramberger
Chapter 5. Opportunities, Risks, and Challenges Due to New Framework Conditions
Abstract
Open banking is undoubtedly bringing momentum to the discussion about what the financial services provider of tomorrow could look like. On January 13, 2018, the PSD II (Payment Services Directive II) was transposed into national law and creates the legal framework for opening up the market for third-party providers.
Markus Bramberger
Backmatter
Metadata
Title
Open Banking
Author
Markus Bramberger
Copyright Year
2022
Electronic ISBN
978-3-658-35815-0
Print ISBN
978-3-658-35814-3
DOI
https://doi.org/10.1007/978-3-658-35815-0