The Task

Enabling a European Challenger Bank Disrupt Their Market Using Open Banking

Our Role

• Pacemakers was invited to provide digital banking advice on how to best implement a strategy study completed by a global management consulting firm.

• We supported our client in identifying the right partners to deliver a solution capturing the new opportunities resulting from PSD2 and Open Banking regulation.

• Advised on the breaking up of the opportunity into three tranches:

  • The selection of an API platform provider,

  • The enhancement of their data analytics capability,

  • The creation of an internal proposition development and innovation division.

• Delivered a partners short-list that included global firms, local champions and select early stage firms. 

• Supported the launch or the formal selection process for all tranches. 

Impact

• The API Platform tranche RFP was completed in Q3 2017, generating a savings in excess of €1.1m compared to the bank’s initial forecasts.

• Bank API platform and Data analytics delivered. Innovation factory in progress.