Open APIs - Open Banking - Digital Transformation

  • Published on
    18-Mar-2018

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  • Going the Extra Mile Open APIs – Open Banking – Digital Transformation

    Seshika Fernando Head - Financial Solutions WSO2

  • ABOUT WSO2

    2

    Mountain View, New York, London, Sao Paolo, Colombo

    Founded in 2005 Venture backed by

    Cisco and Toba Capital

    450 Employees; 300 Engineers

    400+ Customers, 175 New Customers

    in 2017

  • OPEN TECHNOLOGY FOR AGILE DIGITAL BUSINESS

    3

    Build internal and external developer ecosystems with an API marketplace.

    Manage identity, security, and

    privacy across your digital

    business.

    Make mobile and IoT devices 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 Management API Security + SCA Consent Management TPP Onboarding API Analytics

    PSD2 Compliance

    API Integration Fraud Detection Transaction Risk Analysis API Analytics Dashboards

    TPP Provider

    Web/Mobile App Suite Business Insights Insight Sales Required Integration

    Digital Transformation

    WSO2 Open Banking

  • THANK YOU

    wso2.com

    http://wso2.com/ http://wso2.com/ https://www.linkedin.com/company-beta/66028/ https://www.linkedin.com/company-beta/66028/ https://twitter.com/wso2 https://twitter.com/wso2 https://www.youtube.com/user/WSO2TechFlicks?sub_confirmation=1 https://www.youtube.com/user/WSO2TechFlicks?sub_confirmation=1 https://www.facebook.com/WSO2Inc https://www.facebook.com/WSO2Inc https://plus.google.com/102978163165933210309 https://plus.google.com/102978163165933210309