The way banks have reached out to their customers has evolved over the years. Starting from branches, call centers, automated teller machines to the more recent online and mobile banking channels. While these channels had different modes of reaching out, they had one very big thing in common. They were all provided by the bank themselves, independently and purely as a part of providing banking service.

Experience/usage of banking services is blurring for end consumer to large corporates and to bankers themselves. This is primarily due to open banking which is driven by technological advances and resulting in a phenomenon that we would like to call as “retailification” of banking and this requires banking to become embedded into user experiences in an invisible mode. With the advent of “Open Banking” the fundamental concept of how banking services are provided is about to change.