The current state of banking APIs Open APIs are high priority for - - PowerPoint PPT Presentation
The current state of banking APIs Open APIs are high priority for financial institutions What are banks doing about it? How important are Open APIs to banks? 2 http://www.briansolis.com/2016/12/top-10-retail-banking-trends-predictions-2017/
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http://www.briansolis.com/2016/12/top-10-retail-banking-trends-predictions-2017/
How important are Open APIs to banks? What are banks doing about it?
https://mgboyd.com/state_of_the_market_banking_apis_2016
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http://www.mckinsey.com/~/media/mckinsey%20offices/singapore/2014%20digital%20banking%20in%20asia% 20-%20winning%20approaches%20in%20a%20new%20generation%20of%20financial%20services.ashx https://www.accenture.com/us-en/~/media/Accenture/Conversion-Assets/Microsites/Documents17/Accenture- 2015-North-America-Consumer-Banking-Survey.pdf
Engage & delight
Know the customers Re-imagine the experience Change the distribution mix Deepen and sustain loyalty Evolve into Everyday Banks
1.7 billion digital banking customers in Asia by 2020
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https://thefinancialbrand.com/55611/customer-centricity-digital-banking-strategy/
Which channels are the biggest sources
Percentage of total sales from digital channels
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http://sloanreview.mit.edu/article/thriving-in-an-increasingly-digital-ecosystem
Omni-channel business Ecosystem driver Supplier Modular producer
experience
products
with providers
company
service
different ecosystems
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Omni Channel Ecosystem
Bank
Compare Loans Moving Services Compare Properties Property Market Info Legal Services Builders & Designs App Internet Banking Mobile Banking Paper / Forms
Bank
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Assessment of bank's strengths versus Fintech’s weaknesses Assessment of Fintech’s strengths versus bank’s weaknesses
Strength of banks Weakness of Fintech firms Strength of Fintech Weakness of Banks
Existing customer base Need to build customer base Reputation for trust and stability Lack of customer trust Experience with regulators Inexperience with regulation Full line of banking products Limited line of products Deep financial pockets Lack of investment capital Effective risk-management programmes Lack of experience in risk management Absence of legacy software/systems Constrained by legacy technology Capacity to innovate Lack clear strategic vision Less regulatory pressure Under regulatory pressure Agility and speed to market Culture not suited for rapid change Technology expertise Inability to requite/retain tech talent Able to improve current products Unwillingness to cannibalise products 83 70 81 66 80 82 80 79 79 74 80 75 80 75 79 81 79 70 77 78 76 66 80 75
http://www.economistinsights.com/technology-innovation/analysis/disruption-banking
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http://bit.ly/tipsgoapi Click the Video Above or Visit below URL
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Employment Health Education Household Transport Others…
(identity, product catalogue, product comparisons, relationships, recommendations)
APIs APIs APIs APIs
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Bank Integration Partner Integration
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APIs Security / Authentication Apps Marketplace Integration Bank Integration Partner Integration Bank 1 Bank 2 Business Partners Technology Partners Use Cases Analytics Data Model Notification Acquisition Tools Halo Pay Third Party Mobile apps and Web apps Halo pay Use case 1 Use case 2 Reporting Behavior
Payments Loans Deposits Risk KYC AML Payments Loans Deposits Risk KYC AML SMS Push Chat Social USSD OTP Insurance Healthcare Funeral Cover Education
halo pay halo vendor halo agent Wala Spaza ….. …..
Mobile and Social media apps that help build the eco-system Platform to help grow and manage the eco-system by providing value added services for 3rd party consumption
Banking systems that provide payments, compliance and banking products Business Partners providing non-Banking products Technology Partners providing technical capabilities
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APIs Security / Authentication Apps Platform Integration Bank Integration Partner Integration Bank 1 Bank 2 Business Partners Technology Partners Use Cases Analytics Data Model Notification Acquisition Tools Halo Pay Third Party Mobile apps and Web apps Halo pay Use Case 1 Use Case 2 Reporting Behaviour
Payments Loans Deposits Risk KY C AML Payments Loans Deposits Risk KYC AML SMS Push Chat Social USSD OTP Insurance Healthcare Funeral Cover Education
halo pay halo vendor halo agent Wala Spaza ….. …..
Flexible to quickly integrate to multi partners or banks in different countries
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Banking, Advice and Marketplace APIs
https://myp.mobi/en/
Employment
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http://getwala.com/
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https://www.bcgperspectives.com/content/articles/growth-lean-manufacturing-rising-need-for-innovation-speed/
Development times are too long Selecting the right ideas to commercialize Risk-averse culture Lack of coordination Not enough great ideas Marketing innovations Not enough customer insight Cant measure performance well Leadership commitment Compensation not tied to innovation % Respondents 2014 2015
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https://www.linkedin.com/in/ranaperies @RanaPeries