Determining Open X Ecosystem Roles
Open X will feature emergent new roles that challenge traditional banking assumptions. Firms will be required to assume a role that aligns with their capabilities and external operating environment. While banks look to prepare for these specialized roles, they will have to prioritize, enhance, and ensure the robustness of their internal integrated model as well.
As the industry heads toward Open X, we see three new roles emerging: Supplier, Aggregator, and Orchestrator. With an eye on maximizing customer value, entities will be required to identify their most significant strengths strategically so that they can adopt a best-fit role within the new financial services ecosystem.