Digital transformation opportunities present themselves in many forms. Changes in customer behavior, the shift in social norms, the rise and collapse of certain industries, regulatory measures could all potentially be a digital transformation opportunity. Banks who viewed PSD2 and Open Banking as an imminent threat are now looking at it as a catalyst for digital transformation. This keynote will explore the role of PSD2 in redefining the financial industry.

1. Head of Financial Solutions, WSO2
Digital Transformation in the Guise of a
Regulation - PSD2 and Open Banking
Seshika Fernando

2. No One Really Wants To Do Banking

3. 3

4. 4
Go on Vacation

5. 5
Build that Dream Home

6. 6
Educate Children

7. Banking is the Means to an End

9. Payment Services Directive 2
EU Directive that applies to
all banks operating in the EU
that regulates payment
services throughout the EU,
with a compliance deadline of
January 2018

10. Mandates Banks to
- securely expose
- customer Account and Payment data
- with customer consent
- to regulated third parties
- via APIs

11. PSD2 Explained
Bank A
Bank B
Bank C
Now

13. PSD2 Explained
Bank A
Bank B
Bank C
Merchant
Now
TPP
PISP/AISP
PSD2
Bank A
Bank B
Bank C
Merchant

20. • Competitive dynamics
• Business model and identity
• Customer relationships
• Revenue
Banks’ Worst Nightmare
Further Commoditized

21. ‘Consolidated Customer Financials’

22. Digital Transformation - Market Expansion
Bank A
Bank B
Bank C
Merchant
Consolidated customer
account and payment
info across
multiple Banks
TPPTPP

23. Digital Transformation - New Revenue Streams
Consolidated customer
account and payment
info across
multiple Banks
Bank A
Bank B
Bank C
Merchant
TPP

24. Becoming a
Part
of Customer
Lifestyles

25. • 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

26. Technology

27. 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/

28. Seamless Journey to Customer’s End Goal
TPP
????

29. The Many Guises of Digital Transformation

30. wso2.com