agile and adaptable technology platforms - easing the insanity of the post psd2 world

Agile and Adaptable Technology PlatformsEasing the Insanity of the Post PSD2 World

Seshika FernandoHead of Financial Solutions

About Us

Get regulated financial services

Get better healthcare

Get new and convenientshopping experiences

Get to places faster

Get efficient public services

Get cost saving benefits

Get more customizedconsumer services

Get more productive

Transactions per year

5 Trillion

1 Billion

2005 2010 2012 2017

About You

Credits to ProSymbols, Bence Bezeredy, Avnihan Kirisik, Artem Kovyasin and Bezier Master of the noun project

27 Countries

50 Banks 35 Fin Tech Providers

6 Deadline Passed12 Extended Deadline

11 Regulatory/Govt

What should keep you up at night

What’s actually keeping you up at

night

Banks

● Do I need to comply?

● What do I need to have in order to comply?

● Can my IAM step up to the challenge?

● How do expose APIs from my legacy systems?

● Will this be a sunk cost? Or can I get a RoI?

Banks

● Do I need to comply? [Article 2 of PSD2 Regulation]

● What do I need to have in order to comply? [APIM, API Security, TPP Onboarding, IAM]

● Can my IAM step up to the challenge? [MFA, Consent Management]

● How do expose APIs from my legacy systems?[Integration points, Connectors]

● Will this be a sunk cost? Or can I get a RoI? [Stay tuned]

TPPs

● How do I integrate Banks with multiple different API specifications?

● How do I do Transaction Risk Analysis

● How do I connect my TRA to my IAM to provide SCA exemptions?

● How do I standout among the rest?

TPPs

● How do I integrate Banks with multiple different API specifications?[API Integration]

● How do I do Transaction Risk Analysis [Real Time Analytics]

● How do I connect my TRA to my IAM to provide SCA exemptions?[Adaptive Authentication]

● How do I stand out among the rest? [Stay tuned]

● Full PSD2 compliance including adherence to RTS for SCA and SC

● Provide standardised API Specifications for Payment and Account information

● Out of the Box API Security (OAuth2)

● Strong Customer Authentication (SCA)

● Adaptive Authentication based on rules defined

● User Consent Management

● Integration with core-banking systems & external services

● API Analytics & Business Insights with Dashboards

● API Monetization to create various revenue models

Getting compliant using WSO2 Open Banking

What does it look like?Check it out at

https://openbanking.wso2.com/

Beyond Compliance – Market Expansion

Bank A

Bank B

Bank C

Merchant

Consolidated customer account and payment

info across multiple Banks

TPPTPP

Beyond Compliance - New Revenue Streams

Consolidated customer account and payment

info across multiple Banks

Bank A

Bank B

Bank C

Merchant

TPP

Becoming a Part

of Customer Lifestyles

Open Technology for Agile Digital Business

WSO2 Open Banking

API ManagementAPI Security + SCAConsent ManagementTPP Onboarding API Analytics

PSD2 Compliance

API IntegrationFraud DetectionTransaction Risk Analysis API Analytics Dashboards

TPP Provider

Web/Mobile App SuiteBusiness InsightsInsight SalesRequired Integration

Digital Transformation

Why WSO2● World class technology, preconfigured for full compliance and business expansion

● Proven track record of working with financial institutions of all sizes

● Standards-based API-M/Integration interoperates with COTS or bespoke tech

● Minimum impact/changes to existing internal systems and B2B integrations

● Ability to implement through Bank’s preferred local partners

● Structured training programs for IT staff, and focused workshops/hackathons

● Ability to seamlessly cater to evolving regulations and business priorities

THANK YOU

wso2.com