apidays LIVE Singapore 2021 - Digitisation, Connected Services and Embedded Finance April 21 & 22, 2021 What financial services can learn from Marketplaces & Ecosystem Platforms in other industries Pavan Keshavamurthy, Founder at OpenDevX.io

1. What Financial Services can
learn from Platform Ecosystems
API Days Singapore
22 Apr 2021

2. Whoami?
● Founder
- OpenDevX.io
- Platformatory
● Technologist, Programmer
● APIs, EDA, Modern Architecture
- Consulting & program leadership stints with
tier-1 CSPs & BFSI in North America and
ASEAN
● OSS
● Genomics
● Classical music
● Amateur Astronomy
● ..and a lot of other things

3. What’s common amongst the top 10?

4. $60
Trillion
Projected global ecosystem revenue by 2025 * ~ McKinsey

5. Some movers of the ecosystem market

6. .. most fintech unicorns are actively building ecosystems

7. One (big) segment that they all cater to

8. Ecosystems unlock new possibilities

9. Alibaba: Case study of ecosystem in action

10. What’s your ecosystem
posture?
..some advise

11. Network
Effects
Market
Expectations
Platform
Productized
Data & APIs
Developer
Community
Revenue
Model
Support &
Governance
The ecosystem model in a nutshell.

12. Align your ecosystem role
Platform Owner Orchestrator Participant

13. The BFSI-Tech tri-junction. Playing to competitive advantage
Src: Cognizant

14. Understanding implications of the model you choose

15. Prescriptive advice
Incumbents & digitally maturing
banks
- Low friction interoperable open
platforms & open standards
- Evolve differentiated platform
offerings
- Transactional insight & advanced
analytics
Emerging fintech & SaaS
- Experience & touchpoint
services
- Customer Insight & Data
Monetization
- Core technology services

16. Cautions to exercise
1. Ecosystem creation is a major, strategic goal with implications across people,
processes & tooling
2. Centralized API Management is largely focussed on API Runtime & API Lifecycle
Management
a. Inadequate to address ecosystem management
b. Too single vendor focused
3. API supply chain can be quite complex
a. Heterogeneous services & systems
b. Under the ownership of different teams
4. Complex monetization models can create problems
5. Distribution channels need to signal trust & provide low friction onboarding & great
developer experience
a. With self branded API products, care must be taken to not directly compete
or cannibalize other participants in the ecosystem

17. 4 point roadmap
towards ecosystem
orchestration
1. Organize your services & data catalog (by
business domain, audience)
a. Tooling for provider teams & product/IT owners
2. Productize
a. API & Ecosystem Strategy
b. Developer Experience
c. Branding & Trust Signal
d. Developer Marketing
3. Monetize
a. Metering & custom service units
b. Subscription billing: Pay as you go
c. Hybrid Distribution channels: Private & Public API
marketplace
4. Govern
a. Ecosystem metrics
b. Empiricism (& Experimentation)

18. Create a well organized product portfolio
{API} {API} {API} {API}
{API} {API} {API} {API}
{API} {API} {API} {API}
Core systems as a service
Your business domain as a service
Customer Experience as a service
Events Data
Transactions Insight
LOB
3rd party
Partner
API Type
Audience
Company
API Tier
Monetization model
Free Premium

19. ESB / iPaaS
Data Lake /
Warehouse
Data Streams
Microservices /
Functions
ETL / Batch Proc /
Data Pipelines
IoT
Enterprise Applications /
COTS / SaaS
Databases / SQL /
NoSQL
Workflow / BPM
MOM / Queues /
SEDA Pipes
Machine Learning
Cloud Services
Containers
Enterprise
API
Gateway
Cloud
Gateway
Service
Mesh
Gateway & Connector
Management
API
Network
Commerce Engine
Product Mgmt
Program Mgmt
Developer
Marketing
CMS
Governance &
Policing
Reporting
API
Ecosystem
Office
Doc Mgmt
Product Registry
Support
API Team Mgmt
API Exchange / Hub
Developer Portal &
Services
Developer
Marketplace
API
Supply
Side
API
Demand
Side
API Exchange / Hub
Internal API
eXchange
Developer Portal &
Services
Partner Hub
Developer
Marketplace
Developer
Marketplace
Build an ecosystem aware platform architecture

20. Internal APIs
Partner API services
API Commerce / Marketplace
OpenAPI Digital innovation hub
Ecosystem Size
Services
Maturity
SOA,
REST
Micro
Services
Data
Services
A Digital Ecosystem Maturity Roadmap

21. Thank you
pavan@platformatory.com
www.platformatory.io