1.4 Business Models and Consequences for Users

We show a first high-level view of some of the new business models that are enabled through Open Banking andhow this will change the way payment, banking and finance will be provided to users. Beyond customer interfacechanges we explore some of the structural and strategic changes that are being brought about through OpenBanking. These range from the new channels, the pressure being brought on the traditional card business up tothe need for banks to position themselves anew in this emerging ecosystem and how they may fit in to the newworld of Fintech.