A new research report from Cornerstone Advisors, commissioned by Ninth Wave, identifies six monetization opportunities that banks can leverage to drive growth, deepen relationships, and unlock new revenue streams. As Open Finance shifts from regulatory requirement to competitive necessity, institutions that fail to act risk falling behind.
“Open Finance isn’t just about data access—it’s about revenue creation,” said Ron Shevlin, Chief Research Officer at Cornerstone Advisors and co-author of the report. “Banks that treat open banking as infrastructure alone are missing the bigger opportunity. The real value lies in using that connectivity to deliver new products, faster decisions, and better customer outcomes.”
“Open Finance is no longer optional, it’s the foundation for how banks compete in a connected economy,” said George Anderson, CEO of Ninth Wave. “The real challenge isn’t connectivity, it’s execution. Banks that can operationalize data into products, decisions, and revenue will separate themselves from the rest of the market.”
The Six Ways to Make Money with Open Finance
The report, Monetizing Open Banking: Commercial Banking Opportunities, identifies six primary revenue opportunities:
- Cash Flow–Based Lending
Use real-time transaction data to underwrite loans more accurately, expand credit access, and speed up approvals. The most immediate opportunity is that the Small Business Administration has replaced its Small Business Scoring Service with a direct cash flow requirement. Banks without real-time data access will face longer timelines and higher compliance costs under this new DSCR mandate. - Multi-Bank Cash Visibility Platforms
Consolidating account data from multiple institutions into a single platform, delivered as a subscription service, provides businesses with a real-time view of their finances across multiple institutions. - Faster Credit Decisions Through Real-Time Data
Cut loan decision times from weeks to days, or even hours, by replacing manual document collection with permissioned data access. - Payment Initiation Services
Transaction-based revenue generated from enabling businesses to initiate payments between accounts and institutions using a bank-hosted interface. - Multi-Bank Data Aggregation
Deliver advanced financial insights and analytics by aggregating data from multiple institutions, establishing the bank as the primary financial hub. - Fee Income from APIs and Data Access
Monetize API infrastructure directly by charging fintechs and partners for access to customer-permissioned data – a model validated by JPMorgan Chase, which announced plans to charge for API access in October 2025.
Together, these six areas represent a fundamental shift in how banks can compete, transforming Open Finance from a cost center into a scalable revenue platform.
The report emphasizes that demand for integrated financial experiences is accelerating, driven by businesses that expect their banks to seamlessly connect with ERP systems, accounting platforms, and payment workflows. Banks that meet these expectations are seeing measurable results while those that don’t risk disintermediation as customers turn to fintech platforms for integrated financial experiences.
