What European Banks Need to Know about Competing with Ecosystems

By Alessandro Secchi, Luca Gagliardi and Nanna Svahn

Partnering with diverse groups of companies is proving to be a rewarding way to attract new customers and expand existing relationships. But managing these networks is a relatively new area for most banks, especially in Europe. A replicable operating model will help.


Banks are increasingly turning to new and diverse partnerships to spark growth – for good reason. Ecosystems that offer complementary products and services via a single platform can open new revenue streams for all companies involved. In most cases, banks will receive fees in exchange for allowing its partners access to their customer database. In some cases, banks suddenly find themselves able to follow customers far beyond the boundaries of their traditional relationships.

Take the DBS Property Marketplace in Singapore, for example, in which the Singapore-based bank (DBS) works with partners including EdgeProp, Averspace, and SoReal to pool offers onto the platform.1 Launched in 2018 by DBS, this ecosystem enables customers to buy, sell, or rent a home from a single platform – and take out a loan in the process. Among other returns, this ecosystem generated more than SGD 300 million in home loan requests for DBS in its first year of operation.2

Other growing bank-based ecosystems are focusing on different core customer interests, such as wellness and travel. The big challenge is managing an ecosystem over timewhile also launching and managing others successfully. Eighty-nine percent of the 120 bank leaders we recently surveyed (with banks located in 19 countries across the globe) said they believe that ecosystem-based initiatives will be their main driver of future value creation. Among leaders of banks in Europe the response was almost identical, at 88 percent. Yet orchestrating even a single ecosystem is relatively new territory for most banks. And in Europe, the challenge is exacerbated as many firms are still struggling to pull outdated legacy systems fully into the digital world.

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About the Authors

Allesandro Secchi (ales [email protected]) is a senior principal, offering development lead, with Accenture.


Luca Gagliardi ([email protected]) is a senior principal with Accenture Research.


Nanna Svahn (nanna.[email protected]) is an associate manager and Nordic financial services research lead at Accenture.


1.  https://www.dbs.com / newsroom / DBS_launches_ Southeas t_Asias_largest_bank_led_ property_marketplace
2. DBS 2018 annual report
3. 2019 Accenture Global Financial Services Consumer Study http://www.accenture.com/us – en / insights /financial – services – consumer – study – 2019.


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