Banco Original: Open Banking Initiative
Celent Model Bank Award: Banco Original: Open Banking Initiative
Winner of Celent Model Bank 2017 Award for Consumer Digital Platforms. Banco Original is the first 100% digital bank in Brazil, and has pioneered a number of new technologies and delivery models within Latin America. The bank has leveraged it's Open Banking Platform to launch several innovative technologies like Open APIs, Facebook banking, Instagram banking, cloud deployment, and more. It's a Model for building a better digital bank.
Not only is Banco Original the first cloud-based digital-only universal bank in Latin America, but with a commitment to innovative applications of technology it puts itself in the ranks of the some of the more advanced brands globally.
The heart of Banco Original’s strategy was to leverage Open APIs to drive innovation and integration with new and emerging technologies. APIs offer the flexibility needed to stay relevant.
"Banco Original pushed the envelope on what’s possible, working closely with regulators to redefine banking standards. The bank moved the entire banking industry forward (in Brazil), allowing technology like mobile account opening and furthering the relevance of cloud deployment," commented Stephen Greer, Analyst in Celent's Banking practice.
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].
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