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Commodity to Ecosystem - Supporting customer lifestyles beyond banking

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“Open banking is a digital transformation catalyst in disguise. It presents a data driven opportunity to understand a customer’s lifestyle beyond the confines of banking”
This is the concept and it looks great on paper. Progressing from the “open” concept to a digitally transformed bank is where the challenge lies.

This session will cover
The shift in strategic perspective from closed to open banking
The new normal - Customer journey, business models, payments and partnerships,
The organization wide impact of Open banking - How it can redefine your sales and marketing strategies
Walk the Talk - Building an Open Banking Strategy for Digital Transformation

Publié dans : Technologie
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Commodity to Ecosystem - Supporting customer lifestyles beyond banking

  1. 1. Head of Financial Solutions, WSO2 Commodity to Ecosystem Supporting Customer Lifestyles Beyond Banking Seshika Fernando
  2. 2. No One Really Wants To Do Banking
  3. 3. 3 Go on Vacation
  4. 4. 4 Buy that Dream Home
  5. 5. 5 Educate Children
  6. 6. Banking is the Means to an End
  7. 7. PSD2 Mandates Banks to - securely expose - customer financial data - with customer consent - to regulated third parties - via APIs
  8. 8. Account Information Aggregation Bank A Bank B Bank C Now
  9. 9. Payment Initiation Bank A Bank B Bank C Merchant Now TPP (PISP) PSD2 Bank A Bank B Bank C Merchant
  10. 10. • API Management – APIs – Third party onboarding – Threat/misuse detection – Analytics Technology Requirements for Compliance • Identity and Access Management – Secure API invocation – 2 Factor Authentication – Adaptive Authentication – Consent Management
  11. 11. • Competitive dynamics • Business model and identity • Customer relationships • Revenue Banks are not happy Further Commoditized
  12. 12. ‘Consolidated Customer Financials’
  13. 13. Digital Transformation - Market Expansion Bank A Bank B Bank C Merchant Consolidated customer account and payment info across multiple Banks TPPTPP
  14. 14. Digital Transformation - New Revenue Streams Consolidated customer account and payment info across multiple Banks Bank A Bank B Bank C Merchant TPP
  15. 15. Becoming a Part of Customer Lifestyles
  16. 16. • Vision: Regulation vs. Business Opportunity • People: Concern for Compliance & IT vs. All • Culture: Take nothing for granted, keep innovating • Technology Recipe for Digital Transformation Ingredients
  17. 17. Technology
  18. 18. WSO2 Open Banking API Manager API Security + SCA API Analytics API Monetization PSD2 Compliance API Integration Fraud Detection API Analytics Dashboards TPP Provider Web/Mobile App Suite Insight Sales Required Integration Digital Transformation http://wso2.com/solutions/financial/open-banking/
  19. 19. Seamless Journey to Customer’s End Goal TPP ????
  20. 20. wso2.com THANK YOU seshika@wso2.com