Building blocks

Building Blocks for a successful aggregation platform

February 20, 2018

What does it take to create a successful aggregation platform? In the second recording from our most recent webinar, our analysts drill down into what it takes to create an account aggregation experience that engages and truly adds value to customers.

The proposition of having direct access to a holistic view of one’s financial life is in early stages of development. Some providers are still working to get the core platform functionality right and most aggregation platforms are yet to enable payments functionality. Forecasting and behavioural recommendations have been introduced by early movers in the market but they are currently fairly generic. To tailor these features and make them more relevant to users, providers need to get a better understanding of the individual customer.

Regardless of the limitations of some of the functionality, the market of aggregation services is rapidly evolving. It’s an exciting time for financial services and FinTech.

In this recording, Mapa breaks down platform functionality into three levels: Hygiene &  AwarenessEnabling Actions, and Automatic & Activation. Join our Principal Consultant, Chris Ward, Head of Research, Suraya Randawa, and Senior Analyst, Rory Pennington, as they discuss the building blocks that make up each level, using real examples from Yolt, Centralway Numbrs, Moven and BBVA.

Screenshots of Yolt, Centralway Numbrs and Moven

You can also listen to Part 1 of this webinar recording, ‘What’s happened since PSD2 came into effect?‘. Part 3, ‘What’s next in Open Banking?‘, will be published in the next couple of weeks.

Mapa regularly monitors the developments in account aggregation in our Monitor. For more information on how this market is changing, download a sample report or get in contact with us today.