Head of Financial Solutions, WSO2

Winning the Battle and the War API Management for Compliance and Digital Transformation

Seshika Fernando

No One Really Wants To Do Banking

3

Go on Vacation

4

Buy that Dream Home

5

Educate Children

Banking is the Means to an End

PSD2 Mandates Banks to- securely expose- customer financial data- with customer consent- to regulated third parties- via APIs

Account Information Aggregation

Bank A

Bank B

Bank C

Now

Payment Initiation

Bank A

Bank B

Bank C

Merchant

Now

TPP(PISP)

PSD2

Bank A

Bank B

Bank C

Merchant

• API Management

– APIs

– Third party onboarding

– Threat/misuse detection

– Analytics

Technology Requirements for Compliance

• Identity and Access Management

– 2 Factor Authentication

– Adaptive Authentication

– Secure API invocation

– Consent Management

• Competitive dynamics

• Business model and identity

• Customer relationships

• Revenue

Banks’ are not happyFurther Commoditized

‘Consolidated Customer Financials’

Digital Transformation - Market Expansion

Bank A

Bank B

Bank C

Merchant

Consolidated customer account and payment

info across multiple Banks

TPPTPP

Digital Transformation - New Revenue Streams

Consolidated customer account and payment

info across multiple Banks

Bank A

Bank B

Bank C

Merchant

TPP

Becoming a Part

of Customer Lifestyles

• Vision: Regulation vs. Business Opportunity

• People: Concern for Compliance & IT vs. All

• Culture: Take nothing for granted, keep innovating

• Technology

Recipe for Digital TransformationIngredients

Technology

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/

Seamless Journey to Customer’s End Goal

TPP

????

wso2.com

THANK YOU