I am planning to share my Ideas on the way we are banking today. Also,
how the technology can be used to help our Customers on day to day basics.
Again, Banks are not there to Server Customer alone. To Make Profit as well J. Next 4-5 blogs will be more specific to how banks can make money using
the new technology and trends.
Banks can follow Project-centric approach to Product-Centric approach.
What do i mean by this? Banks should not limit to implement the project.
Rather banks should proactively think to convert Projects to Product to make
more money out of it. Few points are,
ü As a bank, we can think of exposing our APIs like
Telecoms to generate income by following Product centric approach.
ü Open/Closed API model to increase the traffic.
ü APIs are a channel to new customers and markets.
ü APIs promote innovation & revolution is Banking.
Like Savings account deal comparator, all banks branch/ATM locator etc..
ü APIs are a better way to organize IT.
ü APIs create a path to apps.
Business
Benefits:
ü API’s will generate indirect
income to the bank.
ü A free API is free
advertising.
ü Free APIs encourage 3rd
party developer usage.
Above points are explicit.
So i am not going to explain in detail. If you are seeking for more specific
details on any of the points above, i am happy to clarify you.
Happy learning!
Nanjundan Chinnasamy
