【翻譯】The State of Open Banking -5. COLLABORATION STRATEGIES

5. COLLABORATION STRATEGIES
   合作戰略

Open Banking players are learning from the collaborative strategies used in fintech lending.
開放銀行參與者正在學習金融科技貸款業務中使用的協作策略。

Whereas the early stages of online lending innovation were marked by debate over whether fintechs or banks would ‘win’ market leadership and how, banks and fintechs in Open Banking are starting early on combining their strengths.
線上借貸創新的早期階段被人們議論紛紛的主題是，金融科技公司和銀行哪個將獲得市場領導地位以及如何做，銀行和金融科技公司正在開放銀行中進行其優勢的初期結合。

Indeed, collaboration is now an unavoidable strategy in this space.
實際上，現在，合作在這個領域是不可避免的戰略。

The collaborations are taking the form of partnerships as well as early M&A activity.
合作採用的方式有合作伙伴形式以及早期的併購活動。

Recent M&A or partnerships of leading banks in the Open Banking space:

最近在開放銀行領域的主要銀行合作或併購：

During the past year, banks, fintech startups, and TPPs have been collaborating to launch new apps and services.
在過去的一年中，銀行、金融科技公司和第三方服務提供尚一直在合作推出新的應用和服務。

In addition, large incumbent banks are also creating APIs in-house, as well as collaborating with small fintech startups to integrate innovative technologies.
此外，大型負擔銀行也在內部建立API，並與小型金融科技公司合作整合創新技術。

（注：Incumbent Bank 負擔銀行 ，Direct Bank 直銷銀行，前者有線下網點等繁複的組織結構，後者依靠資訊科技純線上服務)

For example, First Direct, a subsidiary of HSBC, entered into a partnership with London-based fintech Bud, which is providing the API integration layer to connect financial services from scores of providers into one app.
例如，匯豐的子公司First Direct與總部位於倫敦的金融科技公司Bud建立了合作關係，提供API整合層，將來自數十家供應商的金融服務連線到一個應用中。

Meanwhile, Barclays tied up with PayPal to offer customer services to manage their money and payments.
與此同時，巴克萊與PayPal合作提供客戶服務來管理他們的資金和支付。

In addition, Starling Bank partnered with Flux, an app that collects loyalty cards into a single online wallet.
此外，Starling Bank與Flux合作，推出一款應用將會員卡收集到一個線上錢包中。

Many other traditional banks are working on their in-house capabilities: HSBC has ‘Connected Money’ while BBVA has Denizen.
許多其他傳統銀行正在耕耘其內部能力：匯豐銀行擁有“Connected Money”，而BBVA擁有Denizen。

These partnerships incorporate spending analyzer, money management, loyalty management, budget management, digital receipts, and debt tracking as their key services.
這些合作混合支出分析、資金管理、會員管理、預算管理，數字收據和債務跟蹤為一體作為其關鍵服務。

This representative list of partnerships and merger activity in Open Banking is based on LendIt’s research of banks’ websites and public news.
這份具有代表性的開放銀行合夥與合併活動清單，來源於朗迪對銀行網站和公共新聞的研究。

Threat of disintermediation

脫媒的威脅
(注：脫媒，去中介）

Open APIs help modularize the functions of customer acquisition, user application development, sophisticated advisory services, and back-office processing.
開放API有助於模組化獲客、使用者應用開發、複雜諮詢服務和後臺處理等功能。

This raises existential questions for today’s financial services leaders about which activities to keep in-house, which will deliver long-term profitability, and how to retain customer loyalty in an environment where the end-users’ primary attachment may be to someone else’s application.
這為今天的金融服務領導者提出了存在的問題，即哪些活動要保留在內部，哪些可以帶來長期盈利，以及如何在終端使用者的主要粘性可能在其他應用程式的環境中保持客戶忠誠度。

Traditional banks:

傳統銀行

• Third-party providers or fintech players may disintermediate banks’ interaction with customersby offering low cost, innovative financial products by accessing bank’s data.
第三方提供商或金融科技公司可通過訪問銀行資料提供低成本、創新的金融產品，可能會消滅銀行作為中介與客戶的互動。

（注：disintermediate，去中介，的意思是減少或消除生產者和消費者之間使用中介。）

Big banks facing threat of disintermediation are partnering with third-party providers and fintech companies to offer a wide range of services to help their customers. 面臨脫媒威脅的大銀行正在與第三方供應商和金融科技公司合作，提供廣泛的服務來幫助他們的客戶。

• Major banks have launched their own APIs through fintech ventures/apps.
很多銀行通過金融科技投資或應用推出了自己的API。

（注：ventures 風投，指銀行自己投資金融科技）

For example ING-owned Yolt allows users to optimize their money management by letting them see the balances of their bank accounts from multiple banks.
例如，ING旗下的Yolt允許讓使用者檢視自己來自多家銀行的賬戶餘額來優化使用者的資金管理。

CMA9 and challenger banks such as Monzo also are collaborating with Yolt.
CMA9和Monzo等挑戰者銀行也與Yolt合作。
To address disintermediation head-on, Nigel Verdon, CEO of Railsbank, proposes that traditional banks consider incorporating a ‘utility bank’ strategy, where they are paid by the customer-facing company to provide core deposit services as well as reinforce consumer trust.
為了正面解決脫媒問題，Railsbank的執行長Nigel Verdon建議傳統銀行考慮採用“公用銀行”戰略，為面向客戶的公司支付提供核心存款服務以加強消費者信任。

（注：utility bank 公用銀行這個概念相對於 consumer banking（消費者銀行）, retail banking （零售銀行）or individual banking（私人銀行），銀行不直接和客戶發生關係，轉而變成公用服務機構，專門存款用。）

“Traditionally with consumer bank accounts, the cost of customer acquisition could be USD 350 while the lifetime value was only USD 250; a losing proposition. With a utility banking model, the cost of acquiring a customer account could be USD 10 while the lifetime value of that account may be USD 40 - profitable, even though the bank no longer owns the customer relationship.”
傳統上消費者銀行的賬戶，獲客成本可能是350美元，與此同時其存續期價值僅為250美元;是個賠本買賣。使用公用銀行模式，獲取客戶賬戶的成本可能是10美元，而該賬戶的存續期價值可能是40美元 - 即使銀行不再擁有客戶關係也是有利可圖的。

This approach of course can complement direct customer acquisition and retention, if the bank carefully distinguishes customer segments and matches them to the optimal channels. 如果銀行仔細區分客戶群並將其與最佳渠道相匹配，這種方法當然可以補足直接客戶的獲取和保留。

Payment service providers (PSPs):

支付服務提供商

• Open Banking is likely to impact payment service providers such as Visa, PayPal, and MasterCard due to disintermediation.
由於脫媒，開放銀行可能會影響Visa、PayPal和MasterCard等支付服務提供商。

Visa and Mastercard are responding by playing the role of facilitator, building trust in the ecosystem to drive Open Banking transformation.
Visa和Mastercard以促進者的角色為己任，為生態系統建立信任來推動開放銀行轉型。

These players are forging partnerships across the value chain to be part of the next phase of innovation in payments, endorsing the Open Banking initiative and the new line of up-and-coming fintech players.
這些參與者正在整個價值鏈上建立夥伴關係，成為下一階段支付創新的一部分，背書開放銀行倡議和新一代即將到來的金融科技公司。

• Mastercard plans to facilitate the Open Banking transformation by offering solutions such as a directory of third-party providers, fraud monitoring services, dispute resolution mechanisms, and connectivity hubs that will help third-parties establish and maintain communication with banks.
萬事達卡組織計劃通過提供第三方供應商目錄、欺詐監控服務、爭議解決機制和幫助第三方與銀行建立和維持溝通的連線中心等解決方案來促進開放銀行的轉型。

• Visa is focusing on partnerships and investments (USD 100 Mn investment fund) in fintech startups to build APIs for third-party providers and banks for transaction processing, authorization, fraud prevention self- checkouts, and people-to-people payments.
Visa專注於金融科技創業公司的合作和投資（1億美元投資基金），為第三方提供商和銀行構建API，用於交易處理，驗證授權，防欺詐自助結算和點對點付款。

Despite these steps, fintech companies such as Vibe Pay are likely to diminish the dominance of well-established payment gateways and traditional banking products (debit/ credit cards).
儘管採取了這些措施，Vibe Pay等金融科技公司很可能會削弱固有的支付閘道器與傳統銀行產品（借記卡/信用卡）的主導地位。

Because of open APIs, which allow for peer- to-peer transfers among application providers and funds repositories, no longer is a central “switch” essential to the clearance of transactions.
由於開放API允許應用提供商和資金儲存節點之間的點對點傳輸，因此清算交易的中央“交換”不再是必須。

（注：no longer is … 倒裝還原 It is no longer that a central “switch”essential to the clearance of transactions.）

If banks are willing to challenge their a priori beliefs, there are multiple ways to win in this new world.
如果銀行願意挑戰他們的先驗信念，那麼在這個新世界中有多種方式可以獲勝。