Beyond OpeN

BankiFi

/ baŋkɪfʌɪ /

verb

to BankiFi is to allow a bank’s customers to control and manage access to their data - held by any data controller or data processor (bank or non-bank) - through fine-grained consent. By doing so banks can offer meaningful and monetised services to their and other banks’ customers utilising their trusted brand.

The history of banking goes back to 2000 BC when merchants not only transported the goods of farmers and traders, but gave them loans to prepare for the next crop. Banks took over that role as custodians of our money, securities were next and today in the era of Open Banking we see banks as custodians of data, with which they can create relevance in our everyday lives. An easy next step to imagine is identity, on which basis we create a reputation that enables us to transact and trade our way through life on a personalised profile. From custody to value, to relevance and next to reputation. Banking has not changed, but banks must!  'Open Banking' is their key to remaining our core banking services partner in life.

But 'Open' is not enough. More than technology, it requires an open mind on the core role and place for a bank to offer those services in a new and wider eco system of players, all vying for the same customers' attention.   The regulation, the technology, the open competition are merely tools and surely not the end game. 'Beyond Open' banking is all about creating instant, relevant and contextual experiences that truly bring value to customers of banking services.

'Beyond Open' is a realistic goal today, and that is why we at BankiFi embrace irrevocable societal change, great new technologies and an open mindset to help global financial services providers to open up their business to external (fintech) partners in a way that is safe, accessible, easy to monitor and monetise. With the consent centric BankiFi foundation,  and its value-add corporate and business solutions, banks can extend their customer relationships in a model that is financially sustainable and built for growth.


BankiFi is more than a 'piece of code', it is a company and a team that puts consent and collaboration also at the core of its way of working.  As we build tools for a fairer and more transparent world, that is open to new ideas and young talent, we realise it must also add to a sustainable and profitable future. This can only mean one thing: the 'how' must reinforce the 'what' we do.

 
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How to BankiFi

“To BankiFi is an end-to-end game: open banking imagination, selection and co-development of BankiFi multi-data consent driven platform and (revenue generating) businesssolutions, testing in a real-life ConsentBox before going live in the Open Banking world, if needed supported by a go live marketing campaign.”

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BankiFi is a co-creation partner for the Nordea Open Banking Platform

“Together with BankiFi we have within a short time frame managed to come up with an innovative solution that will be of great interest for many of our customers and by that we have also proven that co-creation with 3rd parties on the Open Banking platform will turbo charge our development of new products”
Claus Richter, Head of CM Customer Solutions at Nordea

 

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