Perspectives
The ecosystem imperative
Looking at the impact of ecosystems across the financial services industry
Published date: 23 October 2023
The digital transformation of financial services organizations is extending into ecosystems, introducing new players and shifting traditional roles. The Institute of International Finance (IIF) and Deloitte have been working together, speaking with public and private institutions, to better understand how these new ecosystems are impacting the industry. These ecosystems are evolving into dynamic networks who create value through complex models of collaboration, competition, and innovation. We will look at this across several dimensions in a series of reports.
In this report from the IIF and Deloitte we look at the impact of data policies and the importance of broadening the scope from Open Banking to Open Data, not just Open Finance. We explore how different data-sharing frameworks function as ecosystems with the potential to achieve goals for policymakers and market participants alike.
Embedded finance is becoming an important strategic consideration for financial institutions (FIs). For this second report, we interviewed financial experts asking them a number of relevant questions for practitioners, policymakers, and consumers, including: What is embedded finance? Why has embedded finance flourished? How is it manifesting? And, where is the embedded finance trend headed?
Stay tuned for the final two reports in the ecosystem imperative series, launching later this year.
