The use of Banking-as-a-Service ensures sustainability
The long-term and systematic cooperation between the bank and third parties, as PwC defines strategic partnerships, determines the future of banking – “not only for ‘fully digital’ but also for hybrid business models,” says Richard Dratva. Depending on their requirements and strategic orientation, the respective partners enter into different levels of cooperation:
Richard Dratva, Chief Strategy Officer at CREALOGIX, said: “If the banks want to offer their customers a well-rounded and comprehensive financial ecosystem, they cannot help but look for cooperation partners because they cannot provide all the services themselves. Because one thing is certain: customers are prepared to change banks more quickly than in previous years if they are not offered what they expect”.
According to Richard Dratva, financial institutions needed a technological infrastructure in the form of a digital banking platform for outsourcing as part of a Banking-as-a-Service model. ” It orchestrates its own overall digital offering.” Such a platform goes far beyond simple API management and enables bank customers to obtain “all services from a single source, securely and at attractive prices”. Platform providers have created the conditions for the banking of the future. Now it is a matter of “the necessary flexibility and innovation” in implementation.
Full-length interview & study:
The full-length expert interview in German with Dr. Richard Dratva, Chief Strategy Officer, on “Strategic Partnerships in the Financial Industry” is available here: https://www.pwc.de/de/finanzdienstleistungen/studie-outsourcing-in-der-finanzindustrie-experteninterviews/interview-mit-dr-richard-dratva-von-crealogix.html
The study can be downloaded in German as a PDF here: https://www.pwc.de/de/finanzdienstleistungen/pwc-sourcing-survey-2018.pdf
Jasmin Epp, Group Communications & Brand Manager
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