Technology mandated by regulatory bodies, is serious business. That is what API Management is to PSD2. And that is why PSD2 and Open Banking should extend beyond 2018 and become part of your long term strategy for success. This session will cover From the horse’s mouth: What bank’s are telling us about their race to comply Thinking beyond 2018: Building an open banking strategy for long term success Concept to Reality: Realising the Digital Transformation opportunities of Open Banking

1. Head of Financial Solutions, WSO2
Winning the Battle and the War
API Management for Compliance and Digital Transformation
Seshika Fernando

2. No One Really Wants To Do Banking

3. 3
Go on Vacation

4. 4
Buy that Dream Home

5. 5
Educate Children

6. Banking is the Means to an End

8. PSD2 Mandates Banks to
- securely expose
- customer financial data
- with customer consent
- to regulated third parties
- via APIs

9. Account Information Aggregation
Bank A
Bank B
Bank C
Now

11. Payment Initiation
Bank A
Bank B
Bank C
Merchant
Now
TPP
(PISP)
PSD2
Bank A
Bank B
Bank C
Merchant

18. • API Management
– APIs
– Third party onboarding
– Threat/misuse detection
– Analytics
Technology Requirements for Compliance
• Identity and Access Management
– 2 Factor Authentication
– Adaptive Authentication
– Secure API invocation
– Consent Management

19. • Competitive dynamics
• Business model and identity
• Customer relationships
• Revenue
Banks’ are not happy
Further Commoditized

20. ‘Consolidated Customer Financials’

21. Digital Transformation - Market Expansion
Bank A
Bank B
Bank C
Merchant
Consolidated customer
account and payment
info across
multiple Banks
TPPTPP

22. Digital Transformation - New Revenue Streams
Consolidated customer
account and payment
info across
multiple Banks
Bank A
Bank B
Bank C
Merchant
TPP

23. Becoming a
Part
of Customer
Lifestyles

24. • Vision: Regulation vs. Business Opportunity
• People: Concern for Compliance & IT vs. All
• Culture: Take nothing for granted, keep innovating
• Technology
Recipe for Digital Transformation
Ingredients

25. Technology

26. WSO2 Open Banking
● API Manager
● API Security + SCA
● API Analytics
● API Monetization
PSD2 Compliance
● API Integration
● Fraud Detection
● API Analytics
● Dashboards
TPP Provider
● Web/Mobile App
Suite
● Insight Sales
● Required Integration
Digital Transformation
http://wso2.com/solutions/financial/open-banking/

27. Seamless Journey to Customer’s End Goal
TPP
????

28. wso2.com
THANK YOU