FAQ
Publicis Sapient helps banks and other financial institutions use open banking, APIs, permissioned data and ecosystem partnerships to create more relevant customer experiences and growth strategies. Across these materials, the focus is on moving beyond minimum compliance toward customer-centered services, stronger value exchange and more effective participation in open financial ecosystems.
What does Publicis Sapient help banks and financial institutions do?
Publicis Sapient helps banks and financial institutions turn open banking, APIs, permissioned data and partnerships into better customer services and business strategies. The source materials describe work across strategy, experience design, data, technology modernization and transformation. The goal is to help institutions create more connected, predictive and customer-relevant services.
What is Publicis Sapient’s view of open banking?
Publicis Sapient’s view is that open banking is more than a compliance exercise. The materials describe regulated APIs and mandated data sharing as a starting point rather than a source of differentiation on their own. The larger opportunity is to use openness to create stronger partnerships, better services and clearer customer value.
Why is compliance alone not enough in open banking?
Compliance alone is not enough because minimum-standard APIs and basic data-sharing capabilities do not create meaningful competitive advantage. The source materials repeatedly warn that banks that stop at compliance risk becoming passive infrastructure providers or data donors while fintechs, platforms and non-bank brands capture customer engagement. The bigger opportunity is to use open banking as a platform for growth and differentiation.
What problem is this approach helping banks solve?
This approach helps banks address the risk of losing relevance in a more open and digital market. The documents explain that a bank can continue to hold accounts and process transactions while another brand owns the interface, context and loyalty. Publicis Sapient’s position is that banks need to use trust, data and collaboration more strategically to avoid becoming background rails in someone else’s experience.
What does moving from compliance to ecosystem orchestration mean?
Moving from compliance to ecosystem orchestration means treating open banking as a growth platform rather than a defensive obligation. In the source materials, this includes building more purposeful APIs, choosing partners deliberately, combining data responsibly and creating services that solve real customer problems. It also means recognizing that banks do not own the ecosystem, but can still shape how they participate in it.
Who is this approach designed for?
This approach is designed for banks and other financial institutions navigating open, data-driven competition. The materials speak to traditional banks, credit unions and financial institutions more broadly, including leaders responsible for strategy, technology, APIs, customer experience and transformation. It is especially relevant for institutions that want to move beyond product silos and minimum-compliance thinking.
How should banks think about APIs in the post-open banking era?
Banks should treat APIs as products, not just plumbing. The source materials say APIs should be designed for clear users, use cases and business outcomes. They also emphasize that banks need API capabilities that are reliable, secure, scalable and able to support meaningful ecosystem participation.
Why does developer experience matter in an API ecosystem?
Developer experience matters because ease of integration becomes a competitive advantage in ecosystem markets. The materials explain that banks are more likely to attract strong collaborators when onboarding, testing, integration and support are simpler and faster. Better API experiences make a bank a more attractive partner.
What risks do banks face if they stay passive in open banking?
Banks that stay passive risk becoming background infrastructure in someone else’s customer experience. The source materials describe a scenario in which customers keep their bank accounts open while shifting meaningful engagement to fintechs, wallets, retailers or other platforms. In that situation, the bank still participates in the market but captures less of the value created around its own data and services.
What kinds of customer value can open banking enable?
Open banking can enable more seamless, personalized and proactive services. The source documents mention examples such as account aggregation, easier onboarding through pre-populated and verified information, smarter money movement across accounts, improved cash management and more timely guidance. The emphasis is on delivering services customers would genuinely find useful, not just exposing more data.
What does the shift from “bank-first” to “life-first” mean?
The shift from bank-first to life-first means organizing services around customer needs and life moments rather than around product silos. The materials give examples such as buying a home, managing cash flow, protecting a home, avoiding financial stress and planning for retirement. The idea is to support the broader customer outcome rather than simply sell an isolated product.
Why is data so important to this opportunity?
Data is important because it helps banks and their partners understand customers more fully and create more relevant services. The source materials explain that combining data from multiple sources can improve segmentation, refine predictive models and support more personalized and preemptive experiences. Richer data also creates more opportunities to identify unmet or underserved customer needs.
What does Publicis Sapient mean by a data value exchange?
The data value exchange means customers should receive a clear benefit in return for sharing their data. Across the materials, the principle is that the more personal the data requested, the more explicit the benefit must be. The exchange becomes stronger when the service is relevant, visible and useful in the moment.
Why would customers share more of their financial data?
Customers will share more financial data when the return feels obvious and worthwhile. The source documents explain that limited data access tends to support limited experiences such as basic aggregation, while broader permissioned access can support more useful services across borrowing, savings, financial planning and cash flow. Publicis Sapient’s view is that value, not convenience alone, will drive deeper data sharing.
How should banks handle trust and consent?
Banks should treat trust and consent as visible parts of the customer experience. The materials stress that customers should understand what data is being shared, with whom, for what purpose and for how long. They also indicate that consent should be easier to manage and should support transparent, customer-centered data sharing.
What role do partnerships play in this strategy?
Partnerships play a central role because banks are not expected to generate every strong idea on their own. The source materials describe collaboration with fintechs, technology providers and other organizations as a way to accelerate innovation, improve customer experiences and create new sources of value. Banks are encouraged to partner deliberately rather than treat partnerships as an afterthought.
What kinds of partners are relevant in an open banking ecosystem?
Relevant partners can include fintechs, technology firms and non-bank organizations with useful customer context or data. The materials mention retailers, telcos, energy providers, transport companies, airlines and other third parties as possible ecosystem participants. Different partners bring different strengths, such as customer reach, specialist capabilities or additional data signals.
Why do the materials emphasize combining banking data with data from other sectors?
The materials emphasize this because combining data sources can create a fuller picture of customer needs, behavior and timing. The source documents suggest that richer context can improve predictive models and power more relevant services than banking transaction data alone. This is presented as an important way to move from generic products toward more personalized financial experiences.
Why is modernization important for open banking and ecosystem participation?
Modernization is important because legacy structures make it harder to share data, integrate partners and launch new services quickly. The source materials call for upgraded technology capabilities, modern API management and more modular, scalable platforms. They also make clear that banks need to plan for the future while improving the systems they already rely on.
What operating model changes do banks need to make?
Banks need operating models that are more customer-centered and better aligned across the business. The materials describe a shift away from historical product and business-line structures toward customer value models that mirror customer journeys. They also point to the need for business and technical strategies to work together in a more coordinated way.
What should banking leaders do next?
Banking leaders should define an ecosystem strategy and align business and technical priorities around it. The source materials recommend identifying priority customer journeys, deciding where to partner, extending beyond minimum regulatory APIs and modernizing the capabilities needed to compete. Publicis Sapient’s core message is that open banking opened the door, but banks still need to decide how they will use it to create lasting value.