apidays LIVE London 2021 - Reaching Maximum Potential in Banking & Insurance with API Mindset October 27 & 28, 2021 From Open Banking, to Embedded Finance and Insurance The State of Open Banking APIs Mark Boyd, Analyst and Author of the State of Banking APIs 2021 Report

1. State of the Market:
Open Banking and
Open Finance 2021
apidays London Keynote 2021
Mark Boyd, Director

2. We support the development of open
ecosystems that:
● Build economic opportunities
● Solve complex problems
● Enable everyone to participate and co-create their own value.
Building
Tools
Connecting
Partners
Sharing
Best Practices
Measuring
Value
Platformable Mission
We do it by:
2

3. Mark Boyd
Director
Phuong Pham
Open Economy
Adrienne Fanning
Data Governance Lead
Rebeca Vittorazo
Lead Designer
Alexei Garban
Lead Developer
Our Team
Spencer Perkins
Writer/Analyst
Jannika Aalto
Systems Lead
Open Sustainability
Catalina de Castro
Open Health & Equity
Andreea Oprescu
Analyst
3

4. New York
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5. Who is this presentation for?
Can you see yourself in my intended audience?

6. platformable.com 5
Banks
Fintech
Fintech associations
“I need to understand the
current market trends and
identify gaps and
opportunities”
Social impact fintech
Financial inclusion
advocates
“I need to ensure that
everyone can participate in
the emerging open
banking and open finance
ecosystem.”
API industry tool
providers and consultants
“I need to understand the
market to support my
fintech and bank clients
using APIs.”

7. platformable.com 6
Regulators
Policy Leads
“I need to measure
whether open banking and
open finance regulations
are creating the desired
outcomes for everyone’s
benefit.”
API Developers
Product Managers
“I need to be inspired by
what others are doing and
to generate new ideas for
products and services.”

8. How did we get here?
A quick recap on open banking/open finance

9. platformable.com 8
Regulations
are being
proposed or in
place in 63
countries

10. platformable.com 9
...and there is
continued
regulatory
activity in all
regions

11. platformable.com 10
Open banking
is growing at
an annual
growth rate of
489%

12. platformable.com 11
Open Banking Platform Growth by Region
Q3 2019 - Q2 2021
Methodology: Platformable tracks all banks globally and tallies those that have established an open API platform. We then review how many API products are made available by each bank and tally them according to category, and measure
other API characteristics such as standards and specifications used, developer experience strategies employed, and business model/monetisation approaches. We review each bank at least once every three months.

13. platformable.com 12
Open Banking API Products Growth by Region
Q3 2019 - Q2 2021
Methodology: Platformable tracks all banks globally and tallies those that have established an open API platform. We then review how many API products are made available by each bank and tally them according to category, and measure
other API characteristics such as standards and specifications used, developer experience strategies employed, and business model/monetisation approaches. We review each bank at least once every three months.

14. platformable.com 13
Bank API Products by Category
Q2 2021 (N = 4,831)
Methodology: Platformable tracks all banks globally and tallies those that have established an open API platform. We then review how many API products are made available by each bank and tally them according to category, and measure
other API characteristics such as standards and specifications used, developer experience strategies employed, and business model/monetisation approaches. We review each bank at least once every three months.

15. Check out our video to learn
more about our value model
How open banking and open finance ecosystems can generate value for everyone
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16. Who is being offered new open banking/open finance related products?
15

17. How I finished my presentation last
year...
16
What do we want?
Business Models!
When do we want them?
When they have been tested for
product-market fit and
undergone usability research!

18. Open Banking/open finance
trends
A quick recap on open banking/open finance

19. Open Banking/open finance
Embedded Finance
trends
3 key trends in 2021

20. Trend 1.
Digital Banks
Banks are avoiding digital business models

21. platformable.com
Incumbents are creating digital banks Not so much the open banking APIs
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Potential banking digital business models

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Potential banking digital business models

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Potential banking digital business models

25. 24
Gen Z,
self-serve,
business owners,
travelers...

26. Open Banking/Open Finance Quarterly Reports - Trends - Q1 2021
platformable.com 25
KBC Bicycle Insurance Loans APIs
leverages the bank’s insurance
expertise to support businesses that
target younger, more tech savvy, and
healthy end-customers.
KBC Green Energy Loans APIs build
on market interest amongst home
owners to reduce their carbon
footprint and promote the circular
economy.
By making the APIs free to use, KBC
can generate new loan customers
while merchants tend to increase their
sales by 20% if customers can access
credit at the point of purchase.
Show which businesses are using the
open APIs but doesn’t provide direct
links, so a fail on open ecosystems...
The open banking landscape: promising practices
KBC (Belgium):
A platform that caters to both end-consumers’ and fintech partners’ needs

27. Trend 2.
Buy Now Pay Later
Is this the killer use case for embedded finance?

28. platformable.com
First came the API aggregation platforms... Then came Klarna...
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29. platformable.com
But are we setting up for debt collection? Can regulation protect us?
28
https://assets.publishing.
service.gov.uk/governme
nt/uploads/system/uploa
ds/attachment_data/file/
1027366/210923_-_BNPL
_condoc_-_Cleared.pdf

30. 29
Crowdfunded BNPL

31. Trend 3.
Wealth management
Where everyone’s looking to play

32. platformable.com
Fintech taxonomy
31

33. Market gaps
32

34. 3 New ideas and solutions
Where no one is looking

35. Open Banking/open finance
Embedded Finance
Enabled Finance
3 solutions for 2022

36. Solution 1.
Data-informed thinking
Map open ecosystems to identify gaps and
opportunities

37. Map the ecosystem...
36

38. platformable.com
Use-case analysis
37

39. A post-COVID mindset
Solution 2.
Target specific segments

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Women-owned businesses
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OnlyFans (LGBT, sex workers)
40
https://platformable.com/what-the-only-fans-changes-
mean-for-the-open-finance-platform-economy
● More than $2 billion in sales
● 75% increase in signups between March and April
2020

42. platformable.com
Migrant payments/remittances
41
https://migrationobservatory.ox.ac.uk/resources/briefi
ngs/migrant-remittances-to-and-from-the-uk/

43. platformable.com
Renters
42

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Be like Ru Paul’s Drag Race
43
$60 million+
● International TV
franchise
● Streaming service
● World tours
● Year-round Las
Vegas shows
● Regular music
releases
● Games
● Toys
Opportunities for
marginalised community
members (one person
earned less than $8K per
year before being on
Drag Race)
DuoLingo
John Lewis
insurance

45. platformable.com 44

46. Solution 3.
Open sustainability
Moving beyond carbon calculators

47. platformable.com 46

48. platformable.com
Carbon calculators ...and beyond
47
Energy-switching service Switchd has an API which is
used by Nationwide Building Society in the UK to help
customers reduce their carbon footprint.
Enfuce’s My Carbon Action API-driven product
enables banks to integrate the product in open
banking platforms. It draws on customer account
data to measure carbon density of purchasing
behaviour.
API payments platform Stripe has released Climate,
which allows merchants to direct a proportion of
revenue to carbon removal technologies
Greenly, the leader in carbon footprint tracking,
joins forces with BridgePay network to help VSEs
and SMEs analyze their emissions
GFT Spain is promoting green coding practices
which includes some basic principles such as
‘shut down when idle’, ‘avoiding real time
processing’ and ‘investment in green
infrastructure’.
Siemens has taken its pioneering Managed Credit
solution and combined it with payment technology
from CGI, and Open Banking innovator Ordo.

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Energy switching -> Product/purchase switching
Wealth management: ethical trading
48
Renewable loans
Circular economy accounting
Circular economy accounting
Pay-as-you-go energy

50. 1 Challenge
As you participate in apidays London this year...

51. How will you build...
the enabling path?
50

52. Let’s stay in
touch
Thank you...
calendly.com/platformable
mark@platformable.com
platformable.com
@mgboydcom
https://www.linkedin.com/in
/mark-boyd-platformable/

53. New York
JULY
Australia
SEPTEMBER
Singapore
APRIL
Helsinki & North
MARCH
Paris
DECEMBER
London
OCTOBER
Jakarta
FEBRUARY
Hong Kong
AUGUST
JUNE
India
MAY
Check out our API Conferences here
50+ events since 2012, 14 countries, 2,000+ speakers, 50,000+ attendees,
300k+ online community
Want to talk at one of our conferences?
Apply to speak here