For years, Open Banking has been framed primarily as a compliance exercise. Regulations across Europe, Latin America, and parts of Asia established standards for data sharing, interoperability, and consumer rights. But as the model matures, it is becoming clear that regulatory alignment is only the first step.
The real opportunity lies in transforming Open Banking from a legal obligation into a growth strategy.
The pressure on banking margins
The global banking industry faces sustained pressure on margins. Rising operational costs, higher capital requirements, and growing expectations from digital-first customers are eroding profitability. Traditional efficiency levers, closing branches, automating back office processes, or reducing headcount, are no longer sufficient to guarantee long-term resilience.
In this context, Open Banking emerges not as another compliance burden, but as a strategic lever to unlock new revenue streams. By embracing open data ecosystems, banks can diversify services, strengthen partnerships, and monetize APIs as products in their own right.
Beyond technology: a shift in business models
Many institutions still view APIs as “plumbing”. A technical necessity to comply with regulators or connect with partners. This narrow perspective misses the broader point. APIs represent distribution channels. They enable banks to deliver products beyond their own platforms, reaching customers through fintech apps, corporate systems, and third-party marketplaces.
In other words, Open Banking is not only about redesigning systems. It is about reimagining the business model:
- Moving from product-centric to ecosystem-centric strategies.
- Monetizing data access as a service for fintechs, insurers, and corporates.
- Building value-added services on top of transaction data, such as credit scoring, financial planning, or embedded payments.
This shift is not optional. Competitors that position themselves at the center of ecosystems will capture disproportionate value. Those that remain siloed risk irrelevance.
The rise of partnerships
One of the most promising aspects of Open Banking is the ability to collaborate with fintechs and new entrants rather than compete head-on. Partnering allows banks to accelerate innovation without reinventing the wheel. For example:
- A retail bank can integrate a fintech’s personal finance management tool into its mobile app, enhancing customer stickiness.
- A corporate bank can connect its treasury services directly into ERP platforms, creating seamless B2B experiences.
- A universal bank can leverage fintech lending platforms to expand credit access to underbanked populations while keeping risk management in-house.
In all cases, the open API model allows banks to extend their relevance across customer journeys while maintaining trust as the core differentiator.
Profitability in the open data economy
The scale of the opportunity is undeniable. Globally, more than $416 billion in banking revenues are at stake in the transition toward the open data economy. APIs are becoming products in themselves, with banks charging partners for premium data sets, advanced analytics, or real-time connectivity.
Equally important, collaboration strengthens resilience. Rather than trying to outcompete every new digital player, banks can become orchestrators of ecosystems, offering customers more choice while capturing a share of third-party innovation.
Corporate treasury and B2B innovation
While much of the Open Banking conversation focuses on retail banking, corporate use cases may prove just as transformative. Large enterprises are demanding real-time visibility of liquidity, cross-border positions, and cash flow forecasting. APIs enable banks to plug directly into ERP and treasury systems, providing:
- Instant position management across geographies.
- Liquidity optimization through automated sweeps and transfers.
- Reduced operational risk by eliminating batch processes and manual reconciliation.
These capabilities create sticky, high-value relationships with corporate clients, an essential buffer against commoditization in retail banking.
Acting with urgency
The momentum is clear. Three out of four banks worldwide expect Open Banking adoption and API usage to grow by more than 50% in the next few years. In Europe, the number of third-party providers quadrupled in just two years, proving how fast ecosystems can scale once regulation and market demand align.
For banks in emerging markets, the lesson is straightforward: waiting for regulation to mature is not a strategy. Institutions that take a proactive stance, investing in data governance, API monetization, and partnership models, will be best positioned to capture growth.
The Huenei perspective
At Huenei, we see Open Banking as an inflection point. The winners will be those that treat it not as a box to tick for compliance, but as a platform for growth. Success requires:
- Fast integration: APIs that connect seamlessly into ecosystems without downtime.
- Specialized teams: squads capable of modernizing legacy systems and embedding security into every layer.
- Scalable architecture: solutions that support both current regulatory requirements and future innovation.
Ultimately, Open Banking is about shifting from closed, product-driven models to open, ecosystem-driven strategies. It is about turning regulation into opportunity.