Non-economic/structural values created when APIs work as a customer acquisition channels for existing product portfolios. This can benefit both API providers and API consumers as well as Sole trader, SMEs, Enterprise End-Users of apps built on APIs.

Non-economic/structural values can be channeled through network created by the ecosystem. One form is when your developers/users of your API platform create SDKs/wrappers so that other developers (new users of your platform) can use, without having to reinvent the wheel.

Non-economic/structural values created where the API-based ecosystem enables real-time information of the API Provider's businesses (new products, product offerings) in API consumers'/third parties' environment/marketplace, and vice versa. Enterprise users of apps built on APIs can also benefit from having new channels for their products (e.g. Buy Now Pay Later service helps enhance e-commerce sales for merchants on e-commerce platforms that offer the service). 

Non-economic/structural values created where the API-based ecosystem acts as a channel to acquire new segment of customers, e.g. those are not an API Provider bank's traditional customers/not having any account with the bank. This can benefit API providers, API consumers as well as business End-Users of apps built on APIs (sole traders, SMEs, enterprises).

Non-economic/structural values are created where the API-based ecosystem helps enhance API providers' brand perception (as well as that of API Consumers). This could be done through increasing customer reach/adoption, strategic partnerships and community effects.

Non-economic/structural values are created for End Users (both individuals/household and small businesses, as well as underserved individuals/households and businesses) as open banking/open finance allows greater visibility, control and personalisation of financial products and services available, as well as removes barriers to these products and advices. Individuals/households and small businesses can make better financial decisions as a result.

Non-economic/structural values created for End Users (individuals/household and underserved individuals/households) as open banking/open finance allows greater visibility, control and personalisation of financial products and services available, as well as removes barriers to these products and advices. Individuals/households can be less indebted and stressed financially as a result.

Non-economic/structural values are created for End Users (both individuals/household and small businesses, as well as underserved individuals/households and businesses) as open banking/open finance allows greater visibility, control and personalisation of financial products and services available, as well as removes barriers to these products and advices. Individuals/households should be enabled to achieve their long-term life goals, while small businesses their long-term business growth, as a result.

Non-economic/structural values are created for the underserved as open banking/open finance allows greater visibility, control and personalisation of financial products and services available, and more importantly removes barriers to these products and services.

Non-economic/structural values are created for End Users (sole traders, SMEs, and enterprises as well as underserved businesses) as open banking/open finance allows greater visibility, control and personalisation of financial products and services, as well as improved accessibility to these products and services. These should help improve productivity, lower business costs and enhance growth, which should help reduce business failure as a result.

Non-economic/structural values are created for End Users (sole traders, SMEs, and enterprises as well as underserved businesses) as open banking/open finance allows greater visibility, control and personalisation of financial products and services, as well as improved accessibility to these products and services. These should help improve productivity, lower business costs and enhance growth, which should help enhance work/life balance of business owners as a result.

Non-economic/structural values created from the ability for APIs to improve features of products and/or product offerings, which in turn enhance customers' experience and solve customers' pain points. This can benefit both API providers and API consumers as well as all End-Users of apps built on APIs.

Quantifiable economic value of actual revenue creation driven from the integration of APIs as an existing portfolio enhancement. These, for instance, can come from account keeping fees, transaction volume processing for API providers. This can benefit API providers, API consumers as well as business End-Users of apps built on APIs (sole traders, SMEs, enterprises).

Quantifiable economic value of efficiency improvement thanks to API integration. This, for instance, can be driven from reduced customer acquisition costs, reduced admin costs from process automation, contributing to unit cost reduction. This can benefit API providers, API consumers as well as business End-Users of apps built on APIs (sole traders, SMEs, enterprises).

Quantifiable economic value of improved financial health to End-users (both Individuals/household, businesses, as well as underserved individuals/households and businesses) from having greater visibility, control and personalisation of financial products and services available, as well as having barriers to these products and advices removed. This indicator specifically refers to reducing borrowing costs to individuals/households and businesses from improved access to more more personalised products and enhanced insights into their borrowing, hence, borrowing less. For SMEs, reduced borrowing costs will also enhance growth.

Quantifiable economic value of improved financial health to End-users ((Individuals/household, and underserved individuals/households) from having greater visibility, control and personalisation of financial products and services available, as well as having barriers to these products and advices removed. This indicator is specifically applicable to saving products, and value created from getting better/more personalised products.

Quantifiable economic value of improved financial health to End-users (Individuals/household, and underserved individuals/households) from having greater visibility, control and personalisation of financial products and services available, as well as having barriers to these products and advices removed. This indicator is specifically applicable to saving products, and value created from getting better/more personalised products.

Quantifiable economic value of improved financial health to End Users (SMEs, Sole traders, Enterprises, and underserved businesses) from having greater visibility, control and personalisation of financial products and services available, as well as having barriers to these products and advices removed. This indicator specifically refers to business positive cashflow optimisation, helping businesses earn return on credit balances.

Quantifiable economic value of improved financial health to End-users (Individuals/household and underserved individuals/households) from having greater visibility, control and personalisation of financial products and services available, as well as having barriers to these products and advices removed. This indicator specifically refers to reducing costs of household bills from improved access to relevant and more competitive products and enhanced insights into their spending, hence, spending less.

Quantifiable economic value of improved financial health to End-users (SMEs, Sole traders, Enterprises, and underserved businesses) from having greater visibility, control and personalisation of financial products and services available, as well as having barriers to these products and advices removed. This indicator specifically refers to reducing costs of making payments and getting paid – particularly on international payments - from improved access to relevant and more competitive financial products.

Non-economic/structural values created as APIs are able to enable integrations that mean customers are less likely to move off the ecosystem because they make use of a range of ecosystem partners. This can benefit both API providers and API consumers as well as Sole trader, SMEs, Enterprise End-Users of apps built on APIs.

Non-economic/structural values created as API-based ecosystem enables completely different business models with new product portfolios., which also bring in new revenue streams (e.g. for an API Provider bank, leaning branch-based retail banking and at the same time, expanding digitalisation of the operation). This can benefit both API providers and API consumers as well as Sole trader, SMEs, Enterprise End-Users of apps built on APIs.

Non-economic/structural values created from the ability of APIs to identify and help develop new apps, use cases. This can also help drive product improvement as well as new business model. This can benefit both API providers and API consumers as well as all End-Users of apps built on APIs.

Non-economic/structural values created from APIs being able to help anticipate new trends. This particularly benefit API providers, API consumers as well as business End-Users of apps built on APIs (sole traders, SMEs, enterprises).

Non-economic/structural values created from the ability of APIs to enhance process efficiency through automisation of processes. This is narrative to efficiencies. This can benefit API providers, API consumers as well as business End-Users of apps built on APIs (sole traders, SMEs, enterprises).

Non-economic/structural values created from the ability of APIs to reduce time to market of a new product/app/idea. This can include the usage of APIs to enhance development process and/or automate delivery process etc. This is also narrative to efficiencies. This can benefit API providers, API consumers as well as business End-Users of apps built on APIs (sole traders, SMEs, enterprises).

Non-economic/structural values created through strategic partnerships between API providers and API consumers. This is where the owner of the APIs acts as a faciliating resource of the ecosystem, and their fintech/bank partners will integrate with their APIs to provide value  through the ecosystem.

Open Banking Value Tool

What evidence do we have that open banking is really creating impactful benefits for all stakeholders across the ecosystem?

Revenue growth

Network optimisation

Financial health of customers

Reduced inequality

Increased innovation

Efficiency/cost reduction

Environment improvements

Local economic development