The next generation of banking revolves around consumer experiences, with success hinging on the ability to offer consumers personalised value in their moment of need. Collaborating with a diverse ecosystem of partners is essential for banks to consistently deliver this experience at scale. However, traditional banking, built on complex internalised processes, was not built for this. As a solution, Dassana will introduce “the Banking Experience Canvas”, a technical framework built on unbundled banking services made available via APIs on a service mesh. He will demonstrate how this enables deeper collaboration with agile service providers, further empowering consumers to stitch together highly relevant financial services experiences from the bank and a rich fintech ecosystem. Watch the session on-demand here: https://wso2.com/library/summit-2020/emea/fintech-ecosystems-consumer-experiences/

1. FinServ Ecosystems & Consumer Experiences:
The Next Generation of Banking
24 September 2020

2. Hello!
Dassana Wijesekara
Head of Solution Architecture - Open Banking and Financial Solutions
dassana@wso2.com

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Agenda
● Digital transformation in banking
● How you could adapt and transform
● API and data space value addition
● The Banking Experience Canvas (BEC)
3

4. Think of digital transformation ...
as a state of perpetual agility,
always ready to evolve
for whatever customers want next,
and you’ll be pointed down the right path
- Amit Zavery, VP and Head of Platform, Google Cloud -

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Digital Transformation in Banking
5
● “Digital transformation” is an overused term.
● It’s all about agility and consumer experience.
● Banks compete in an overcrowded, intensely competitive and volatile market.
● Transform your:
⦿ business philosophy
⦿ organization culture
⦿ ecosystem
⦿ platforms and tools

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How You Could Adapt & Differentiate
6
● Re-imagining experiences
● Innovative products for niche domains
● Value addition through partners
● Cross-domain aggregation
● Discover value in transactional and other data

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How Quick You can Compose Value ?
7
Discreet Services
Capability
* Art by Peggy Collins.
Discreet Services
Capability
Packaged
Business
Capabilities
Composability & Agility

8. The API Space—Value Addition
8
Fintech Developers
Partners
Additional
APIs
Support for
Eventing
Monetization
Resources
+
+
Attributes
CDR API
Compliance
Boundary
Rich, Performant & Stable API Space

9. The Data Space—Value Addition
9
Merchant CodeBiller CodeDescriptionType
Transaction
Record ID Time
Voluntary Data Set
Smart LendingReal-Time Credit Scoring Wealth Management
Direct Debit
Transfer
Payment
Value Date
Posting Date
Execution Date
1
2
3
4
Consumer Behaviour Pattern
Investment Pattern
Choices
Relationships
Remove PID De-identify

10. The Data Space Value Addition in BBVA
10

11. Building the Ecosystem
11
Digital Ecosystem
Build
Open Banking
Compliance
Banking
Capabilities
&
Value
PFM
Real-Time
Analytics
Smart
Lendings
Payments
Mobile
Banking
Payday
Lending
Personal
Loans
Secured
Lending
P2P
Lending
Cash ‘n Go
Services
Portfolio
Today
Services
Portfolio
FutureInvestment
Management
Debt
Consolidation

12. *Grey logo indicates limited portal accessibility, thereby complicating full assessment
Dev Portal as an Accelerator in Adoption
12
*INNOPAY Open Banking Monitor - May 2020
Benchmark on developer portals.

13. The Deutsche Bank API Program: Dev Portal
13

14. bunq : Dutch International Neo Bank
14

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ABN AMRO: APIs as New Products
15

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BBVA: Embedding Banking in Your Business
16

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Product Evolution Tied to Evolving Digital Maturity
17
Calculators,
Advisory,
Analytics
Stage
1
Stage
2
Stage
3
Stage
4
Open Banking Mandatory Compliance
● Platform challenges
● System integration challenges
● Data quality challenges
Value Addition Within Mandatory Compliance
● Rich developer experience
● Partner onboarding
● Performant & reliable APIs
● High quality data
● Intuitive selfcare applications
Value Addition Beyond Mandatory Compliance
● Additional behaviour on existing APIs
● Additional API resources
● New APIs—local/ partner
● Flexible usage models
Voluntary Data APIs
● Product adoption
● Consumer behaviour
● Investment patterns
● Growth silos
● Lifecycle management
● Monetization
Compliance Only
Rich PFM,
Payments
Banking Experience Canvas

18. Disruptors don’t set out
to beat you at your own game,
they change the rules
- Kai Riemer, Professor of Information Technology & Organisation -
University of Sydney, Australia

19. The Banking Experience Canvas
19

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Concepts: Value Store, Experience & Behaviour
20
A single value store—
not multiple accounts
Multiple jars, pots or
buckets
Multiple experiences—
everyday, savings &
investments
Your unique behaviour

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21
The Banking Experience Canvas
Hi !

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Canvas for Business
22

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23
What You Need to Build a Banking Experience Canvas

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Navigation Path & Waypoints
24
1
2
3
4
5 6 7 n
Requirements
Design
Workshop
Implementation
Test Go Live!
Beyond
Compliance
Bank 4.0
b
Regulator
Alignment
Internal
Culture Shift
a
Partner
Alignment
c
Partner
Update
Agile
2
3
4
Reciprocal Collaboration
c

25. Technology Partner for Your Next Gen Banking Strategy
25
https://wso2.com/contact/
dassana AT wso2.com
https://www.linkedin.com/in/dassana-wijesekara/
@dassana13
https://medium.com/@dassana.p.wijesekara
Photo by Dave Hoefler on Unsplash

26. Question Time!
26

27. Thanks!