NTT DATA Open Banking Practice Positioned as Leader in Everest Group’s Peak Matrix

NTT DATA Corporation has been positioned as a leader in the Everest Group’s Open Banking IT Services PEAK  Matrix Assessment 2020. The PEAK Matrix is ​​an objective, data-driven framework that identifies the relative success of the market and the capabilities of service providers. The evaluation analyzed the Open Banking market under the scope of compliance and analyzed the best practices and innovations in the operational models based on an ecosystem organization and value creation platform.

NTT DATA’s Open Banking Practice received the status of leader. Leaders are reliable partners in the digital transformation agendas of companies in the Banking and Financial Sector (BFS), driving the open application interface (API) strategy through their deep experience in managing these APIs, central to modernization of global distribution resources. To position itself as a leader, an organization needs to prove experience and specific mastery of regulations related to Open Banking and a solid investment in intellectual property, tools and structures to help customers throughout the Open Banking journey.

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Leaders provide insight into the industry, expanding the scope of service offerings to allow banks to orchestrate an open and collaborative environment, going beyond compliance to generate business value from Open Banking.

NTT DATA’s Open Banking Practice received good ratings in:

• Adoption and market value delivered to a wide customer base and market gains in the sector.
• Innovation, investment, vision and strategy.
• Talent investments and innovation labs to expand and establish its global presence based in Latin America and the United States, to capture the emerging demand for Open Banking.

In particular, the customer interviews conducted by the Everest Group during the reporting process highlighted, as the main differential factors, NTT DATA’s experience and knowledge in the sector, technology, open communication and the availability of resources.

“A combination of regulatory and market forces is leading companies in the financial sector to develop open and collaborative environments to build ecosystems of financial products and services. Open Banking has been a key factor in changing the role of financial institutions, providers financial services for drivers of lifestyle experiences, “says Ronak Doshi , vice president of Everest Group. “A robust portfolio of offerings, including an exclusive Open Banking platform, the significant expansion of its consultative talent pool with a focus on specialties and the significant success of the market in a wide customer base have helped NTT DATA achieve the position of leader in the evaluation of IT services from the Open Banking PEAK® Matrix 2020 ofEverest Group “.

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Manuel Romero , Global Director of Open Banking Practice at NTT DATA, comments: “The Open Banking model will change the entire structure of the banking system as new operating models emerge through open innovation and platform-based business models. NTT DATA is determined to help clients transform their current core businesses and accelerate the launch of competitive new digital ventures. We work in partnership with banks, fintech companies and other financial service providers to ensure that they are intentionally digital and open and prepared to compete with new digital players.

We are delighted to have been included in the PEAK Matrix 2020 Open Banking IT services prestige and reliability assessment and look forward to continuing to innovate and deliver value to our customers. ”

The Everest Group’s PEAK Matrix 2020 Open Banking IT Services Assessment Report analyzed the vision and resources of the 24 leading Open Banking IT service providers. It also assessed the impact on the market generated by each IT service provider. Each supplier profile provides a comprehensive picture of its focus on services, its main partnerships, its investments in the area and relevant case studies. The assessment was based on the Everest Group’s annual RFI process for the calendar year 2019, customer referral consultations and an analysis of the Open Banking market.

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