In mature regulated open banking markets, all banks eventually end up with the same set of core standardized APIs. With most banks having long-since identified the importance of collaboration with consumer-centric agile fintechs to scale new financial products, it is increasingly difficult to secure a competitive advantage in this ecosystem. Through this webinar, learn how banks could look to capitalize more on the API technology layer and supporting technology infrastructure they have invested in for open banking compliance, to attract and fast-track collaboration with the most promising fintechs, and even innovative startups from other industry verticals. This webinar will cover: Strategies based on API management, integration and API monetization to provide significantly valuable capabilities to fintech partners Live demo of use cases using the WSO2 Open Banking solution based on these strategies Best practices and frameworks to increase the business impact of your open banking solution when executing a collaborative strategy with fintechs to scale consumer-centric product innovation Who should attend: Open banking project leads CxOs interested in maximizing the business impact of their open banking investment Enterprise/Solutions architects looking to enable internal teams to collaborate with fintechs on rapidly prototyping and scaling new products View the OD webinar: https://wso2.com/library/webinars/monetize-your-open-banking-apis/

1. Monetize Your Open Banking APIs
July 30, 2020

2. Hello!
Vidura Gamini Abhaya
Senior Director - Solutions Architecture
Imaad Rizni
Solutions Engineer
vidura@wso2.com
imaad@wso2.com

3. Open banking is here to stay!
3

4. 4
Yet another map of “Open Banking World”
US
Canada
Mexico
Colombia
Brazil
Chile
Nigeria
EU
UK
Israel
Russia
Bahrain
China
South Korea
Japan
Hong Kong
New Zealand
Australia
India
Sri Lanka
Kenya
Rwanda Singapore
Indonesia
Malaysia
Egypt

5. We are only nearing the end of the beginning ...
~500 Mn
Open Banking API
Calls in the UK in
May 2020
275+
TPPs Registered
from Across the EU
11Mn
US Consumers
Using Open Banking
Data

6. 6
Reduce “time to cash” on loans from months to minutes
“A perennial absurdity is that SMEs end up scanning their paper bank statements, only for the data to be
manually re-entered into the underwriting systems of modern online lenders … open banking is starting make a
real difference at the grassroots level to UK business.”
Conrad Ford, CEO, Funding Options
Applications filled in under ten minutes.
3,000 transactions shared in seconds.
Risk assessed & cash dispensed in under 90 minutes.
+

7. Banks in the EU planning to
collaborate with fintechs in
the next 12 months ->
Over 75%
7
Survey of European bankers by Tink in 2019
Photo by MD_JERRY on Unsplash

8. To monetize,
you need to stand out in the open banking crowd
8

9. 9
Regulatory open banking APIs level the playing field for banks
Mandatory
Standardized
Free
Regulatory
Open Banking
APIs
Banks
Fintechs

10. 10
Carving out a competitive advantage
Brand & Trust
Capacity to Build
Networks
Digital Strategy
Underlying
Technology
Brand & Trust
Capacity to Build
Networks
Digital Strategy

11. Financial Management
SME Accounting
ConsumerValue
Lending & Credit Scoring
Payments
Identity
Advice
Underlying
Technology
11
API-led strategies to boost open banking ROI
PremiumAPIs
Attract
High-Quality
Partners
1
Monetize
Rich Data2
Monetize
Functionality3
Bank Fintechs Consumer
Value
Exchange
Value
Exchange

12. 12
1
Attract great partners
(by helping them accelerate market entry)
Open Banking

13. 13
Less work for your partners
● High-value refined data
● Time & cost savings for partners
● Faster time to market for consumer
propositions
Photo by Jack Lucero on Unsplash

14. 14
Provide value-added APIs to third parties
External Systems
Integration
Component
API
Management
Core Banking
System
Identity &
Access
Management
Consent
Management
Bank C
Bank B
Bank A
Credit Scoring

15. Demo
15

16. 16
2
Provide partners with higher quality enriched data
(through collaborations with external parties)
Open Banking

17. 17
Monetize rich data
● Pull new data and services from partners
● Further enrich data & capabilities exposed
● Further enhance partner & consumer
experience
Photo by Marion Botella on Unsplash

18. I don’t think there’s much to say about
[premium] APIs apart from I think they’re
a bloody good idea. And I would quite
happily pay for them.
- TPP Representative -
As quoted in the “Open Banking, Preparing for lift off” report commissioned by OBIE, UK

19. 19
Value added APIs with enriched data
External Systems
Integration
Component
API
Management
Core Banking
System
Identity &
Access
Management
Consent
Management
Bank C
Bank B
Bank ACredit ScoringBilling
Engine
AI-Based Credit
Scoring System

20. Demo
20

21. 21
3
Provide partners with advanced functionality
(let them focus on what they do best)
Open Banking

22. 22
Monetize functionality
● Expose OB core functionality via APIs
● Monetize this functionality “as-a-service”
● “Bank grade” functionality, low cost,
ability to focus for partners
Photo by Jack Lucero on Unsplash

23. Exposing ‘Functionality-as-a-Service’
23
Strong Customer
Authentication
Consent
Management
Insurance
Application
APIs
Patient
Records
DB
Insurance Provider Medical Clinic
Bank

24. 24

25. Demo
25

26. From concepts, to action, to open banking maturity
26

27. 27
Recap—Carving out a competitive advantage
Brand & Trust
Capacity to Build
Networks
Digital Strategy
Underlying
Technology

28. 28
Push beyond with API best practices
Underlying
Technology
API-First
Design
API
Prototyping
API
Lifecycle
Management
API
Discovery
& Try-Out
Promote
APIs
SDKs

29. Demo
29

30. 30
API-first design enables the
agile delivery of APIs where
they can be implemented to
better suit the needs of API
consumers
API prototyping allows APIs to
be implemented without
waiting for backend services
to be ready and allows
potential consumers to
preview their capabilities
SDKs allow app developers to use
their favourite development
platform program language in
using the API allowing them to
concentrate on the business value
of the application
API Discovery features allows
app developers to discover
and quickly search for APIs
that fit their requirements
API Lifecycle Management
ensures that API producers can roll
out changes and enhancements to
APIs without disrupting API usage
API promotion features such
as social media integration,
discussion forums, and free
try out facilitate wider
adoption
An overview of API best practices

31. 31
Progress towards open banking maturity
Publisher & Dev Portal
Promote APIs
Progression towards marketplace
Established API marketplace
Collaborative Innovation

32. 32
API Marketplaces - Collaborative space for all

33. 33
Contact us to accelerate your open banking success
API templates & security profiles
complying with global standards
UK | EU | AUS | BR | MX | FAPI
Built on industry-leading API platform to
enable premium open banking
Deploy anywhere—
Cloud, on premise or hybrid
Consultancy services built on delivering
mission critical solutions to Fortune 500
Cost-effective without
compromising on rich experience
$
Microservices, containers & beyond
to future-proof your customer offerings
wso2.com/open-banking

34. Question Time!
34

35. wso2.com
Thanks!