Interbank ecosystems has been saved
Accelerating the transformation of banking services
By joining forces with Bigtech companies, banks can build credible ecosystems that will make them prosper and that will benefit their clients and society.
A network that has grown unnoticed
Banks have a decades-long tradition of collaborating in ecosystems, often involving players from other industries and/or public authorities. In Europe alone, we identified more than 200 active so-called interbank ecosystems across 30 countries during an intensive Deloitte research effort.
The topic of interbank ecosystems has, however, attracted significantly less attention than the relationship between banks and fintech or with Big Tech players such as Apple, Google or Alibaba. Yet interbank ecosystems have transformed the industry’s dynamics. Since 2014, we have witnessed a quiet revolution, with the number of ecosystems almost doubling.
In this article, we examine the drivers of interbank ecosystems, benchmark countries on their maturity in terms of these ecosystems, and reflect on the relationship between interbank ecosystems and Big Tech. We conclude that these ecosystems will be crucial to accelerating the transformation of banking services, including those provided not only by banks themselves.