Open Banking is being implemented around the world, and it is coming to SE Asia. What form of Open Banking should occur here? How will it help drive financial inclusion? On 4 September, we are hosting an event to announce the SE Asia Open Banking Working Group (OBWG), an industry-wide initiative which will interact with all parts of the ecosystem. At the event, we will have an open call for all interested parties to register their interest in being part of the working group. Be part of the next wave of financial transformation in SE Asia. You’ll hear from industry experts and those who have actually implemented Open Banking solutions in other markets. Whether you want to be personally involved or just learn how Open Banking will impact your industry, come join us for what promises to be an exciting night.

1. The Open Banking
Working Group -
Southeast Asia
Official Launch Page:
https://openbankingseasia.splashthat.com/

2. WHY OPEN BANKING?
 Originally spurred by PSD2 in Europe, open access to personal data is creating a dramatic
transformation of banking and financial services across the globe
 Early adoption is important for leading financial brands, both to retain current market
share, and to be viewed as relevant by tomorrow’s young, digitally savvy customers
 Main benefits include:
1. Drive deeper customer engagement
2. Create new revenue models
3. Tap a sustainable service model for underserved markets
4. Develop innovative digital services
5. Increase customer personalisation
6. Reduce costs of customer acquisition
 Like the banks, insurance companies, payment providers and FIRtech
(fintech/Insurtech/regtech) companies will also be major beneficiaries of Open Banking

3. Scale: o - 9 (Most banks observed to have low/high adoption of APIs, low/high bank third-party partnership, and are in the
early/advanced stage of data-based transformation and innovation)
Sources: IDC, Finastra’s Open Banking Readiness Index
Readiness for Open Banking in Southeast Asia
Singapore Malaysia Thailand Philippines Indonesia Vietnam
8.1 6.2 6.1 4.7 4.0 2.3
OVERVIEW
With experience in building Fintech, Insurtech
and Regtech communities, we at FIRtech Hub
are setting up the Open Banking Working
Group as a centre of gravity to unify the Open
Banking community in Southeast Asia.
Regional working group (as a starting point):
Strategic discussions to create a common
framework for implementing and scaling
cross-border Open Banking solutions
Local working groups
Strategic discussions to drive implementation
and policy/regulatory changes at the country
level
Sub-committees - established as required
Supported by events, workshops and
educational initiatives.

4. The Open Banking
Working Group -
Southeast Asia

5. Adult Banked Population in Southeast Asia
Note: The percentage of adults aged 15 and above who report having an account (by themselves or together with someone else) at a
bank or another type of financial institution, or report personally using a mobile money service in the .past 12 months
Source: World Bank, Global Financial Inclusion Database
26%
29%
34%
NA
31%
85%
22%
82%
98%
49%
Financial inclusion is a high-priority for the
economic development of Southeast Asia.
Done right, it can unlock long term socio-
economic impacts.
The public and private sectors must work
together to address inherent limitations in the
existing financial systems that have resulted
in millions being left behind.
This can be achieved by providing equal and
affordable access to basic financial services,
creation of financial identities, and basic
personal finance education for unbanked
populations.
From a social perspective...

6. VALUES
MISSION
Our objective is to promote Open Banking in Southeast Asia by
creating a level playing field and facilitating strategic discussions that
lead to a roadmap for execution. The ultimate aims are to support
sustainable economic development and drive financial and social
inclusion for the benefit of all.
Integrity
Always act to support the OBWG’s objectives and the public
interest
Inclusive & Collaborative
Involve all key stakeholders, including regulators, NGOs,
financial institutions, big tech co’s, fintechs, insurtechs &
regtechs, legal & accounting firms, investors, and other related
parties
Global reach & experience
Develop and share best practices. To facilitate this, we will bring
industry experts who have implemented and/or advised on
Open Banking in other markets to share their experiences, use
cases, success stories and lessons learned
Purpose-driven
Focused on delivering tangible actions and benefits for all
Transparent
An annual membership fee is required of members to cover the
ongoing operations, events, workshops and other initiatives. Any
surplus will be reinvested into supporting the OBWG’s objectives

7. DELIVERY TIMELINE
Start
An open call for all
interested parties to
1) apply to be part of OBWG,
2) nominate a steering
committee representative from
their industry,
3) complete an online survey of
topics for follow-on workshops to
discuss
4 September
A launch event that states
the OBWG’s objectives,
announces the initial
steering committee, and
sets out a framework of
actions for the next two
years
October
The first workshop where
the agenda is pre-defined
based upon the feedback of
the online survey
January
A two-day conference in
partnership with the Open
Banking World Congress
which will include the
second workshop
Onward
Further workshops every
eight weeks where again
the agenda is pre-defined
based upon the feedback
from the members
Continuous evaluation and feedback managed by the steering committee
to make sure that relevant and actionable workshops are being delivered.
The initial steering committee may change as the OBWG progresses.

8. The formulation of the OBWG will be transparent and self-governing.
 Co-chairs: Relevant and influential early participants.
 Steering committee: A nominated member from each subset of the
Open Banking community, including, but not exclusive to
 Regulator
 Legal firm
 Traditional bank
 Insurance company
 Payment provider
 Re-insurance company
 FIRtech companies - Payments, Insurance, Digital Banking, PFM etc
 Big tech firm
 Accounting firm
 Consulting firm
 Subject matter expert in Open Banking data standards/
policy/processes
 Ecosystem facilitator
 Members: All other relevant, interested parties
The most asked questions from the members will be used to drive the agenda
for the follow-on workshops. Examples would be:
 Partnerships - How can incumbent financial institutions and third party
providers work together?
 Regulations - How can new regulations such as virtual banking licenses
help and/or hinder Open Banking?
 Open APIs - How can we use APIX and other platforms to deliver?
 Financial inclusion - How can Open Banking help reach the unbanked
and underbanked?
 ASEAN network - How can we create more regionally effective and
collaborative processes and initiatives?
 Global - How can we learn from the experiences of regions that have
implemented Open Banking models and adapt these in Southeast Asia?
PROPOSED
STRUCTURE
WORKSHOP
AGENDA

9. FUNDING
General membership open to any parties with an
interest in the OBWG’s objectives, on payment of a
relatively small fee related to business size, age,
employee count and/or revenue.
FOUNDING MEMBERS /
LAUNCH SPONSORS
5,000 SGD
Sponsorship opportunity for innovative companies serious about Open Banking in
Southeast Asia, and wanting to reinforce their credentials as the principal ‘go to’ solution
provider in the eyes of the industry. The package offers the highest level of corporate
visibility before, during and after the launch event and workshops, speaking opportunity at
opening keynotes and panel discussion, and bespoke marketing and communications
campaign.
 Logo on the OBWG’s home page, marketing and promotional activities
 1st Year Annual Membership included as a founding member.
 Full marketing/branding coverage at all events, including physical banners etc
 Company description on the Sponsor page
 Sponsorship and speaker announcements via social media and press releases
 High profile senior executive participation in one plenary session
 Access to the attendees list
 Mention in the ‘Thank you’ email
ANNUAL MEMBERSHIP
up to 5,000 SGD
ONGOING SPONSORS
3,000 – 8000 SGD
Additional funding and venue sponsorship for events,
workshops and other initiatives as per the OBWG’s
requirements.

10. FUNDING
CONTACT
Matt Argent
FIRtech Hub
matt@fin-ecosystems.com
Singapore: +65 8115 8750
UK: +44 7482 453579
www.fin.ecosystems.com
https://openbankingseasia.splashth
at.com/