Skip Ribbon Commands
Skip to main content
Sign In

WSBI-ESBG workshop tackles current banking challenges

WSBI-ESBG workshop tackles current banking challenges

​Natalie Staniewicz, Manager of innovation and business development at WSBI-ESBG

​​​​​BRUSSELS, 11 May 2018 – More than 300 banking and FinTech professionals gathered in Brussels on 8 May for the retail banking conference The Banking Scene. This year the event tackled the topics of open banking, RegTech and customer-centric services, and invited participants from the Benelux countries and beyond.

During the one-day event participants had a chance to attend workshops, panels and discussions with renowned speakers and experts in the field. WSBI-ESBG played a role in the conference by leading a workshop on platformisation and the importance of collaboration in financial services industry, hosted by Natalie Staniewicz, manager of innovation and business development at WSBI-ESBG.

The discussion focused on how “unbundling of banking" due to new entrants, new customer expectations and new regulations is slowly being changed into a trend of “rebundling", meaning institutions taking back ownership of the customer journey and developing means to use digital and physical assets to be customer-centric and create meaningful customer interactions. Collaboration, open banking as well as platformisation were debated as ways to enhance this rebundling process.

Concrete examples were illustrated to showcase the business model of superplatforms and BigTechs, such as Alibaba and their Alipay. “Super" not only describing the size of the company but even more their ability to integrate cross-industry offers, data and intelligence capability as well as “lifestyle services" giving services to clients along their daily journey.

Open banking was discussed not only as a compliance matter but also as an opportunity for banks to use application programming interfaces (APIs) for better integration capabilities, reaching out to other ecosystems as well as enhanced customer interaction and offers. Examples from other industries that are already using APIs such as travel, retail or insurance illustrated this positive notion. 

The workshop allowed for group discussions and fostered debate on several sub-topics including:

  • collaboration between banks and solution providers, startups and fintech newcomers;
  • coopetition between banks and “frenemies" such as Bigtech players (GAFAs and BATs);
  • possible partnerships and cooperation opportunities between banks;
  • ways banks can learn from big platforms and integrate platformisation and lifestyle banking into their business.

 

​The outcomes of this interactive exchange were presented at one of the closing panels, where Natalie Staniewicz from WSBI-ESBG was invited to debate the opportunities of collaboration and FinTech in an open banking framework together with Don Ginsel (Holland FinTech), Xavier de Pauw (MeDirect Belgium), Alexandra Vanhuyse (KBC) and the moderator Bjorn Cumps (Vlerick Business School).

Some WSBI-ESBG members were also present and showcased their innovative approaches such as Fanny Solano from CaixaBank, who presented how RegTech is being applied at CaixaBank and ImaginBank.

​WSBI-ESBG and Innovation

Savings and retail banks are seeking new approaches because they see the digital wave sweeping over the sector. They are doing this by investing in and developing financial technology (FinTech) solutions to provide convenient, secure, client-centric services to their customers. With around 110 members in some 80 countries worldwide, WSBI-ESBG supports its members via industry discussions and best practice sharing on latest trends and challenges in innovation and business transformation as well as policy outreach and advocacy engagement.

>>Read more about WSBI-ESBG innovation and digitalisation  hub 


 

Innovation Hub; Banking Technology; Digitalisation