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Chief Information Officer
Digital Transformation Adoption in the
Financial Sector and Digital Initiatives
Made by Nations ...
● Nations Trust Bank was established in 1999
● Pioneer in introducing 365 Day Banking with extended hours
● 93 Branches
● ...
Digital Transformation
in the Financial Sector
82% of financial institutions expect to
increase FinTech partnerships in th...
2012 – 2017
● Human interactions
reduced by 5%
● Digital behaviors
grown by 19%
* Source PwC 2017 Digital Banking Consumer...
Nations Trust
Digital Transformation
Strategy
● Engagement
Customer Engagement
Employee Engagement
● Operations
Operationa...
Engagement
Customers –
Digital channels , Digital Onboarding, Lifestyle Solutions, Seamless payment experiences, Reinvent ...
Pioneering Open
Banking in Sri Lanka
Nations Trust have taken forefront in
Sri Lanka by aligning our strategies to
cater c...
● Collaborations with startups
● New business opportunities – Independent App developers,
SMEs , Large corporates
● Busine...
Nations Open API Banking
● AISP – Account Information
Service Provider
○ Account Information
○ Account List
○ Account Open...
Direct API integrations
● Supermarkets
● Clothing Stores
● Online shopping stores
● Cinema Tickets
● Car Park Apps
● Digit...
The Role
Technology Played
Challenges
▪ Multiple Application Programming Interfaces (API) exposed directly from Transaction
Processing Systems
▪ Mult...
New Architecture build on WSO2
API
Layer
Internet Banking
Mobile
Banking
FriMi
Other Services
3rd Party Apps
WSO2
Enterpri...
Advantages
● Faster turnaround times for new API deployment
● Common API Layer for all applications – API Store
High Perfo...
Advantages …. contd
● Employee Identity and Access Management (EIAM)
Single sign on for all browser-based applications
● R...
WSO2 has enabled Nations Trust Bank to build,
scale, and secure sophisticated integration
solutions to achieve digital agi...
nisala.kodippili@nationstrust.com
https://www.linkedin.com/in/nisala-kodippili
THANK YOU
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[WSO2Con Asia 2018] Digital Transformation Adoption in the Financial Sector and Digital Initiatives Made by Nations Trust Bank

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This slide explores how local banks are adopting digital transformation in Sri Lanka. It also discusses a few initiatives taken by Nations Trust Bank in its digital transformation strategy.

Learn more: https://wso2.com/library/conference/digital-transformation-adoption-in-the-financial-sector-and-digital-initiatives-made-by-nations-trust-bank/

Publié dans : Technologie
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[WSO2Con Asia 2018] Digital Transformation Adoption in the Financial Sector and Digital Initiatives Made by Nations Trust Bank

  1. 1. Chief Information Officer Digital Transformation Adoption in the Financial Sector and Digital Initiatives Made by Nations Trust Bank Nisala Kodippili
  2. 2. ● Nations Trust Bank was established in 1999 ● Pioneer in introducing 365 Day Banking with extended hours ● 93 Branches ● Market leader in Credit Card issuing and acquiring ● Nations Trust Bank PLC is amongst the top 30 business establishments in Sri Lanka, ranked by Business Today Magazine ● Launched first Digital Bank in Sri Lanka – FriMi ● Launched Open Banking in Sri Lanka About Nations Trust Bank
  3. 3. Digital Transformation in the Financial Sector 82% of financial institutions expect to increase FinTech partnerships in the next three to five years. Over 70% of financial institutions globally placed “improving the customer experience” as one of their top 3 strategic priorities Source : Global Fintech Report , PwC
  4. 4. 2012 – 2017 ● Human interactions reduced by 5% ● Digital behaviors grown by 19% * Source PwC 2017 Digital Banking Consumer Survey Customer Migrations to Digital Banking
  5. 5. Nations Trust Digital Transformation Strategy ● Engagement Customer Engagement Employee Engagement ● Operations Operational Efficiencies ● Disruptions New Products New Services Innovation Lab
  6. 6. Engagement Customers – Digital channels , Digital Onboarding, Lifestyle Solutions, Seamless payment experiences, Reinvent customer journeys – UI/UX, Personalized Communications Employees – Mobility, Single sign on, Collaboration tools Operations Process automation – RPA/Workflows , Advance analytics and AI, Enterprise Architecture , SDN, Operational risk management , Cross Selling, Disruptions Open API Banking, FriMi, QR Payments, Innovation Lab – KafineLab, Hackathons Nations Trust Digital Transformation Strategy
  7. 7. Pioneering Open Banking in Sri Lanka Nations Trust have taken forefront in Sri Lanka by aligning our strategies to cater changing customer expectations of financial services. With Open API Banking Nations Trust has enabled collaboration and data sharing in the financial services industry to Sri Lanka. Nations Open API Banking followed PSD2 guidelines introduced by EU.
  8. 8. ● Collaborations with startups ● New business opportunities – Independent App developers, SMEs , Large corporates ● Business and 3rd parties can consume Nations APIs and data under the consent of account holder. The motivation for Open Banking in a region where Open Banking is not a regulatory requirement
  9. 9. Nations Open API Banking ● AISP – Account Information Service Provider ○ Account Information ○ Account List ○ Account Opening Requests ○ Card Data Retrieval ○ Card Transactions ○ Customer Information ○ Push Notifications ● PISP/PSP – Payment Initiate Service Provider / Payment Service Provider ○ Funds Transfer ○ Card Payments ○ Transaction Inquiries ○ Bill / Utility Payments
  10. 10. Direct API integrations ● Supermarkets ● Clothing Stores ● Online shopping stores ● Cinema Tickets ● Car Park Apps ● Digital Health Care Services
  11. 11. The Role Technology Played
  12. 12. Challenges ▪ Multiple Application Programming Interfaces (API) exposed directly from Transaction Processing Systems ▪ Multiple point to point connectivity ▪ API Layer does not have redundancy – Single point of failures ▪ Required to build new API s for any new service ▪ Multiple Identity Management ▪ Maintenance complexities
  13. 13. New Architecture build on WSO2 API Layer Internet Banking Mobile Banking FriMi Other Services 3rd Party Apps WSO2 Enterprise Integrator WSO2 Open Banking Core Systems WSO2 API Manager Cloud IDP Remote Userstore UserstoreWSO2 Identity Server
  14. 14. Advantages ● Faster turnaround times for new API deployment ● Common API Layer for all applications – API Store High Performance, Easy integration, Easy maintenance ● High Security APIs will be exposed via API manager, monitoring capabilities, controlling capabilities, APIs are secured via OAuth 2.0 token ● Centralized Identity and Access Management (CIAM) Customer identities will be stored in a single store, Possibility of login in to multiple application with single user credentials, No customer information will be duplicated in multiple channels
  15. 15. Advantages …. contd ● Employee Identity and Access Management (EIAM) Single sign on for all browser-based applications ● Reusable components for Open Banking API Layer, Enterprise Service Bus (ESB), will be re used ● Redesign Internal API Layer to eliminate current inconsistencies ● Provide freedom to independently develop and deploy services ● Easy to scale and integrate with third-party services ● High Availability
  16. 16. WSO2 has enabled Nations Trust Bank to build, scale, and secure sophisticated integration solutions to achieve digital agility
  17. 17. nisala.kodippili@nationstrust.com https://www.linkedin.com/in/nisala-kodippili THANK YOU

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