Latest white paper on FIDA published
The planned introduction of the European Union's Financial Data Access (FIDA) regulations will lay the foundation for an open European financial data space and open the door to innovative business models and banking and insurance services that were previously not possible in this form. Customers will gain access to a new world of financial services, an optimised user experience and more control over their own finances.
In our latest white paper, we explore how FIDA can specifically change the business model of banks and insurance companies and what real added value will be created for customers when data becomes standardised, secure and usable across institutional boundaries.
We show that the EU regulation is not just about technical interfaces, but about a new understanding of customer centricity, sales approaches and data-driven value creation.
To this end, we have identified five different use cases that demonstrate the potential of the regulation – from optimised loan applications to data-driven bancassurance sales. We look at both internal efficiency gains and new sources of revenue at the customer interface.
You can find more information about the white paper and download it free of charge at BANKING.VISION: Go directly to the white paper
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heads up the Retail Banking division at msg for banking, which focuses on digital, customer-centric solutions for the financial industry.