open apis - open banking - digital transformation
TRANSCRIPT
Going the Extra MileOpen APIs – Open Banking – Digital Transformation
Seshika FernandoHead - Financial SolutionsWSO2
ABOUT WSO2
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Mountain View,New York, London,Sao Paolo, Colombo
Founded in 2005Venture backed by
Cisco and Toba Capital
450 Employees;300 Engineers
400+ Customers,175 New Customers
in 2017
OPEN TECHNOLOGY FOR AGILE DIGITAL BUSINESS
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Build internal and external developer ecosystems with an API marketplace.
Manage identity, security, and
privacy across your digital
business.
Make mobile and IoTdevices integral to
your digital business.
Create real-time, intelligent, actionable business insights and data products.
Platform enable your digital business with “micro-services”
and “micro-integrations”.
Open Banking and PSD2
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
Reality
● Legacy core banking systems and challenges in exposing data via APIs
● Existing IAM solution incapable of SCA and Consent Management
● APIM or IAM focus without seeing the broader benefits
● Lack of consensus between specifications making API integration
impossible
Quick fix compliance solutions’ inability to cater to DT needs
Need of the hour
● Technology preconfigured for full compliance as well as business expansion
● Standards-based API-M/Integration interoperable with COTS or bespoke tech
● Minimum impact/changes to existing internal systems and B2B integrations
● Ability to implement through Bank’s / TPP’s preferred local partners
● Structured training programs for IT staff
● Ability to seamlessly cater to evolving regulations and business priorities
1. Strong Customer Authentication (SCA)
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
WSO2 Open Banking
THANK YOU
wso2.com