Banking · Digital and Open Banking
The future of Retail Banking is often discussed in the context of the platformification model. Which statement accurately reflects the implications of this model?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Customer relationships are entirely managed by physical branch managers, with no role for digital self-service.
- 2The bank divests its retail operations completely and focuses solely on wholesale and corporate banking.
- 3The bank moves to an Open Banking model, acting as a platform that integrates its products with services offered by FinTechs and third-party providers via APIs.✓
- 4The bank becomes a closed, proprietary system that strictly controls all third-party access to its customer data and services.
Correct answer
The bank moves to an Open Banking model, acting as a platform that integrates its products with services offered by FinTechs and third-party providers via APIs.
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