Building the business model of the future
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Uber is doing it in the taxi business and Airbnb in the hotel business: digital platforms are transforming more and more markets. This ‘platformification’ is also on the rise in the financial services sector. It is a trend that offers many opportunities for banks, including launching promising business concepts and optimising customer experiences. That is why we work closely with platform companies and start-ups to increase our collective knowledge of platformification.
Platformification within the financial sector
All the big tech companies now offer a payment platform, such as Google Pay, Facebook Pay and Apple Pay. These have really taken off since the introduction of PSD2. Thanks to this European directive, consumers can share their account information with third parties. This allows non-banking companies to develop and offer financial services. ABN AMRO was the first major bank in the Netherlands to provide a Developer Portal to innovate together with external parties.
Platformification is the future, which is why ABN AMRO is building a diverse portfolio here. The outcome could be that we build new platforms or we could look into collaborating with existing ones. We achieve this by using the latest technology, for example, based on real-time client interactions and data exchanges via APIs.
One example of our platform propositions is Pay Later (Achteraf Betalen). Pay Later makes online invoice payments fast, easy and secure for online B2B sellers and buyers. With direct payment to the seller upon shipment and a 30-day payment term for the buyer, Pay Later helps build trust in online B2B purchases. Our portfolio of initiatives is constantly evolving!
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Innovating together
Collaboration is the key to successful innovation, as it means we can constantly learn from each other. That is why we actively look for partnerships. If your organisation innovates within one of our three themes (innovative sustainability, digital assets and platformification) and you could use our strength as a bank, please . We would be interested in exploring how we can join forces.