This report analyzes the changing dynamics of the open banking IT services landscape, focuses on 24 service providers and accesses their capability across key dimensions.
“A mix of regulatory and market forces is driving BFS firms to develop an open and collaborative environment to build a financial services/products ecosystem. Open banking has been a key enabler in changing the role of BFS firms from financial services providers to lifestyle experiences orchestrators,” according to Ronak Doshi, Vice President, Everest Group. “Significant market success including key deal wins for PSD2 open API creation and testing, credible investments in an open banking API suite to enhance developer productivity, and strong client recognition for its transparent communication and talent upskilling/reskilling initiatives have helped Wipro strengthen its market positioning and earn the Leader and Star Performer recognition on Everest Group’s Open Banking IT Services PEAK Matrix ® Assessment 2020.”