API is the New Black - FinTech Connect Live 2016
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Transcript of API is the New Black - FinTech Connect Live 2016
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Elias GagasChief Digital Officer
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Financial Messaging Libraries for
SWIFT, SEPA & ISO20022 standards
Messaging standards
API Framework
1. Bespoke Projects Development
2. Treasury Management System
3. PFM
4. Card Processor Core System
Innovation + R&D
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API is the new digital language
Banks need to speak it fluently,
or risk becoming isolated and eventually
disintermediated, by API native speakers.
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API is a new channel
API
TMS
PFM
?
???
AISPPISP
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It’s not a question of if, or when.It’s how many of them.
Banks have the opportunity to learn
from the techniques & practices
of Internet Giants (amazon, google etc.)
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The Bank of the Future
Inter-Connected
OpenAPIs
Everyday Bank
PlatformBaaSBaaP
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Build
To “Play” the API game you need to
Manage Distribute
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APIs to Core Systems
Integration
API SandboxDevelopers Portal
APIsRuntime
API Management
FinTechDevelopers
Financial Institution
ClientApplications
API Analytics
BankingCore
Systems
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PSD2 = APIs
Open Banking = APIs
The EU, via PSD2, is leadingthe Open Banking movement
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The API movement is HUGE!
You can now reach:
Your customers + FinTech ecosystem
PSD2 is not complianceits your biggest opportunity
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Of Banks have either already
launched, or plan to launch within
the next 12 months, an API initiative
Banks are already workingon APIs!
Source: More Banks Working on APIs in 2016, But Bureaucracy Remains a Problem | Bank Innovation
78%
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It needs a multidisciplinary team & skills / tools
Technology + Business + Marketing
APIs are not about technologyit’s about your Business, Re-Imagined
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