Retail Banking
Retail Banks exist to:
- Provide more liquidity by influencing the money supply in an economy
- Reduce the probability of default on loans by pooling together the risks of lending money
- Lower the cost of borrowing by offering competitive interest rates
Focus Areas
Shift to cloud solutions
Banks are transitioning into this leaner and agile alternative, with the cloud becoming more stable and more secure. COVID has accelerated this transition to the cloud. In fact, banks were on track to invest 48% of their IT budgets in the cloud in 2020, up from 34% in 2018.
Customer-first digital banking experiences
Banks need to focus on how they interact with their customers. Offering customers personalized offerings for a better customer experience will increase customer retention. Digital banking also leads a transition away from traditional face-to-face banking.
Consolidation of services
More and more players in the financial industry are offering an increasing number of financial services. By providing a more extensive product range, banks can introduce new revenue streams and increase customer engagement.
Understanding your audience
"It really starts by understanding the context of the partner or the customer. It is essential to deep-dive into the pinpoints of each and every partner in order to have an early involvement and to understand if the API products we already have are enough or if there is a need for adapting the data.
If you look on the customer side, I think it’s obvious that every customer wants to have something easier and faster. So what we at Deutsche Bank learned is that you really need to build up this trust and put efforts in educating the customers about the usage of their data and about the new and evolving possibilities of retail banking.”
Joris Hensen, Founder and Co-Lead of Deutsche Bank API Program

Top 5 Startups changing the universe of Retail Banking
Aspiration
Aspiration offers retail banking and investing services that enable customers to spend and save their money in ways that protect the planet.
Jupiter
Jupiter is a provider of digital retail banking services to help users track their expenses.
Minna Technologies
Minna Technologies is an EBA authorized FinTech partner that helps retail banks deliver a powerful customer experience.
Strands
Fintech Partner for banks, building financial solutions that allow banks to offer more personalized experiences to their customers.
Sonect
Sonect is a location-based matchmaking platform connecting those who want to withdraw cash with those who want to deposit it.
“We continuously measure the satisfaction of our customers to understand, develop and evaluate the impulses for said development. The wishes and needs of our customers are crucial to ensure the permanent increase of our customer satisfaction.”
Julia Koch, Deputy WEU Leader E2E Current Accounts, First Vice President at UniCredit
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