Temenos Experts on Open Banking’s Impact on FIs and Fintechs
According to Kanika Hope, Chief Strategy Officer at Temenos, open banking is driving banks to reconsider their business models and decide if they want to be financial product producers, distributors, or both.
Because Europe is ahead of the curve when it comes to open banking legislation, it was fascinating to hear Hope, banking consultants, and the tech lead at Blueshore Financial in Canada debate the notion and what it implies for financial institutions and fintech. Temenos has had an app store for a few years, a concept that is slowly gaining traction among some fintech rivals in the United States, but not among legacy core systems providers.
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