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Open Banking – From egosystems to ecosystems
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Spiir
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Vipps
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Payr
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Sub Hub
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Spiir
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Minna Technologies
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Payr
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Sbanken
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DNBNothing
Danske Bank
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SwedbankNothingNothing
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VippsNothing
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Nordea
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Spiir
Minna TechnologiesNothingNothing
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Sbanken
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DNBNothing
Danske Bank
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SwedbankNothingNothing
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KlarnaTrustly
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VippsNothing
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Spiir
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Minna Technologies
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Open Banking is opening up for new ecosystems and more innovation in the financial markets industry
New platforms and ecosystems
are emerging
Partnerships are key for future value creation
PSD2 is accelerating the Open Banking
trend
Open banking will accelerate the
speed of innovation in the financial markets
industry
Danske Bank develop platforms that open up for partnerships and
collaboration
12
Our partnership with Spiir gives our customers one view of all their bank accounts in our interface
All your banks at your fingertips
Better overview makes better decisions. All your bank accounts integrated into our mobile bank
13
Subscription management in the mobile bank from Minna Technologies saves both time and money for our customers
14
District is prepared for the possibilities and demands of the future
District is a first steps towards our vision of a platform where financial data connect and turn into insights, providing full financial overview:
• Full overview • Automated workflows• Flexible and scalable • Turning information in to insights
15
Experience day to day business banking as it should be
✓ See all your bank accounts across banks
✓ View balances and transactions for each account in real time
✓ Transfer liquidity between your accounts
✓ Export data easily
16
A marketplace for easy navigation and discovery of value-adding solutions from both Danske Bank and our partners in the Marketplace
Cu
sto
me
rs
Bydelen markedsplass
Customer interaction with the marketplace
Par
tner
so
luti
on
s
Partner interaction with District
API and Partner Hub
Software Development Kit
API-integrations
17
Both ecosystem provider and participant
Accounting applications
Payment solutions
Banks
Danske Bank APIs
and Services
Fintechs
Aggreg-ators
Accounting
Salary and HR
Bankdata
Cards
Financingsolutions
Expense mgmt
Ecosystem participantEcosystem provider
The better the question. The better the answer.
The better the world works.
Open Banking
June 12th 2019
Open Banking has different drivers globally
OPEN
BANKINGEUROPE
Regulatory-driven approach
CHINA
Market-driven approach
US
Market-driven approach
Changes in the regulatory environment are being
discussed
Source: EY Open Banking Survey
An Open Banking world: what characteristics do we see?
Connected and complex data ecosystem
Increased customer control and centricity
Enhanced insight on and for customers
Increased use of digital identity and biometrics
Data as an asset Evolution of the role of a FIShift in customer relationship
ownership model
Increased choice & competition
Open Banking is an ecosystem empowering consumers to integrate digital banking into their everyday lives
Consumers
Traditional banks, products and services
Digital Financial Ecosystem
Powered by APIs
The UK has a head start with PSD2 due to the implementation of Open Banking (January 2018)
1823
38
51
6471
79 83
10
20
30
40
50
60
70
80
0
2
4
6
8
10
AISP and PISP licenses granted in the UK cumulatively AISP and PISP licenses granted in the UK
Distribution of PSD2 licenses in the UK
AISP PISP Both
48 | 58%
3 | 4%
32 | 38%
In the past few months the number of licenses in the rest of Europe has grown, and Sweden has granted the most licenses after UK
0
2
4
6
8
10
12
14
► PSD2 licenses granted by regulators other than the UK is growing
steadily the past few months
► Sweden has granted the most PSD2 licenses so far, followed by
France and Belgium
► 15 countries have not granted any PSD2 licenses yet, this
includes for example the Netherlands and Spain
► Most companies in Europe apply for an AISP license or for a
combined AISP and PISP license
► In some countries the PSD2 license application process has only
been opened recently, therefore we expect the number of licenses
in Europe to grow at a higher rate the next few months
AISP and PISP licenses granted in Europe cumulatively
Distribution of PSD2 licenses in Europe
AISP and PISP licenses granted in Europe
Developments in Europe
AISP PISP Both
23 | 40%
9 | 15%
26 | 45%
02468
10121416
Au
str
iaB
elg
ium
Bu
lga
ria
Cypru
sC
zech
Rep
ublic
Ge
rma
ny
De
nm
ark
Esto
nia
Fra
nce
Cro
atia
Hu
nga
ryIr
ela
nd
Lie
chte
nste
inL
ith
uan
iaS
we
den
Slo
ve
nia
The majority of the big Nordic Banks have an open banking strategy, but the functionality is mostly limited to view accounts and transactions
Who? How?Extract of
today’s solutions
External developers (TTP’s)
Open API’s
Back end
Front end
Internal developers
Minna Technologies and Swedbank has launched a service providing Swedbank’s customers with overviews and actionable recommendations (such as cancellations and improvements) on all their subscriptions
Sparebanken Vest, Sparebanken Sogn og Fjordane, Sparebanken 1 or Sbanken customers can seetheir accounts in one place.
Danske Bank and Spiir allows customers to see their bank accounts and transactions through one app.
In Sbanken, customers cansee their outstanding amounton their student loan
What scenarios may unfold? Will new platforms dominate the market?
Ma
rket
siz
e
Nordic universal banks
Local banks
Consumerbanks
Others
Total income
<<<<<<<<
<<<<<<<<
<<
Ma
rket
siz
e
Platforms
Banks
Ma
rket
siz
e
Scenario 1: Status quo Scenario 2: A few platforms will
dominate the market
Scenario 3: Total fragmentation
What will decide?
Speed of innovation Distribution power Trust
Norwegian customers still prefer to deal with banks for their personal finances
Source: Kantar TNS and Finans Norge – Forbruker og Finanstrender 2018
62
40
21
21
8
7
4
3
1
1
1
51
36
34
14
7
4
0
5
1
1
0
0 10 20 30 40 50 60 70
Banks
Public authorities
None of these
Insurers
IT company (Google, Apple, etc.)
Mobile operators (Telenor, Telia etc.)
Travel / Airlines
Power company (Hafslund, Fjordkraft, etc.)
Grocery chains (Rema, Kiwi, Meny etc.)
Real estate brokers
Social Media
Opinion leader Yesteryear consumer
In an Open Banking world, relationship will be the new user interface
Source: Time Magazine 2017
June 12th 2019
Collaboration and simplification -
drivers for success in a digital worldBjørn Skjelbred, Senior Vice President
“We are from the future””Digital Planet 2017
Digital Evolution Index
1 Norway2 Sweden
3 Switzerland
4 Denmark
5 Finland
6 Singapore
7 South Korea
8 UK
9 Hong Kong
10 USA
The 2018 IMD World DigitalDigital competitiveness Ranking
1 USA
2 Singapore
3 Sweden
4 Denmark
5 Switzerland
6 Norway7 Finland
8 Canada
9 Netherlands
10 UK
«The future» is still small and ruggedPopulation: 5,3 millions
90% have a multi purpose eID
90% is non-cash
75% have a mobile wallet
Everybody have a bank account
Most invoices are electronic
The Nordiccollaboration model
“All to all”, not “some to some”
Money transfer
Digital access
Digital signature
Store payments
E-Commerce pay
Information
Bills
Through all
Devices
Through all
Devices
From all
PeopleTo all
People
36
The Nordic collaborative models have created the
worlds most successful wallets and ID’sMarket penetration estimates mobile wallets
% users of population 15+
Market penetration electronic ID’s
Estimates
0-19%
>50
%
<50
%
Source: Deloitte
Vipps was the result of banks challenged on multiple fronts
37
Increasing competitionChanging consumer behaviour Regulatory change
Free of
charge
In response to market changes, DNB Bank launched a P2P payment service in 2015…
38
Transfer using recipients phone
number No need for account
number
Instant transfer from desired payment
source Account based or Visa/Mastercard
Independent
of who you
bank with
New solutions were added to the wallet and the share of fee based transaction increased
39
P2P
CHECK
BALANCE
Overview of balance
on all your accounts
in one place
E-COMPay in one click
online (rather than
keying in card details)
VIPPS
GO
Pick menu items
directly in the
Vipps app
100%
30%
2015 2019
Share of fee based transactions
Fee based transactions Non-fee based transactions
INVOICE
Pay your bills in Vipps (rather
than getting paper invoices)
PERSON TO
BUSINESS
Pay with your
phone (rather than
cash or card)
The growth and adoption of alternative payments methods combined with modern techniques of digital authentification, are expected to further catalyze the growth of mobile payments
In this landscape, banks collaborated to combined mobile payments, ID and payments infrastructure to catalyse the innovation.
41
PAYMENT INFRASTRUCTUREMOBILE WALLET ID INFRASTRUCTURE
Mobile wallet
used by 75%
in Norway
Digital identification
solution used by
90% in Norway
Domestic debit card
scheme used by 90% of
merchants in Norway
+ +
42
PUBLIC SECTOR
FINANCIAL SECTOR
AUTENTICATION
DIGITAL SIGNATURES
BUSINESSES
BankID alone been a significant driver for digitization of Norway. A commercially run service functioning across all parts of society
90% of the
Population
43
P2P
CHECK
BALANCE
E-COMVIPPS
GO
INVOICE
PERSON TO
BUSINESS
Adding BankID to Vipps we are simplifying and securing both login and check-in, catalyzing innovation on mobile payments
PUBLIC SECTOR
FINANCIAL SECTOR
BUSINESSES
AUTENTICATION
DIGITAL SIGNATURES
E-ID as society critical infrastructure
44
Tighter interaction between
Population, governments,
financial and public sector
Efficiency in Health,
Education, agriculture
Digital infrastructure
means more inclusion
Bringing the collaboration model abroad
Telecom = Roaming
Payments = Interoperability
Partnering up to create seamless interoperability across countries
?
?
??
47
In essence we strive to
excite people every day
through world-class
simplification
Source: Deloitte
[email protected]+47 90666337
YOUR DIGITAL CFO
SMALL BUSINESSES ARE UNDERSERVICED
51
CAPASSA – FULL RANGE OF SERVICES FOR SMALL BUSINESSES
52
ACCOUNTING
PENSION
CONSULTING
BANKS
FINANCIAL
INSURANCE
SMALL
BUSINESSES
DEBT COLLECTION LEASING
53
CAPASSA –
YOUR DIGITAL CFO
FINANCIAL
OVERVIEW &
CONTROL
AGGREGATED
INFORMATION
FINANCIAL
ADVICE
EASY &
INTUITIVE
MARKET PLACE
54
ACCOUNTING
PENSION
CONSULTING
BANKS
FINANCIAL
INSURANCE
DEBT COLLECTION LEASING
PARTNERSHIP PROGRAMS & DASHBOARD
55
FULL OVERVIEW AND CONTROL
SET THE FINANCIAL CRITERIA
RISK REDUCTION
THE CAPASSA INDEX – THE INDUSTRY STANDARD EVALUATING SMALL BUSINESSES
56
THE TARGET MARKET
57
LIMITED
COMPANIES
(AS’)
SME’S
NORWAY
70 000
&
EUROPE
25 MILL
< 20
EMPLOYEES
NOK/YEAR
NORWAY
> 500 MILL
&
EUROPE
> 160 BILL
STRONG AND EXPERIENCED MANAGEMENT TEAM
58
MARIT
WETTERHUS
24 years of experienceCEO of 3 technology
companies Non-Executive Director of 2 listed technology
companies
AAGE
THORSEN
24 years of experienceExtensive experience
working with Financial Institutions
Network, infrastructure & security expert
MAGNUS
KIRKERUD
22 years of experienceExtensive experience
working with Financial Institutions
Security, storage, backup & compute expert
CEO CTO CPO
59Capassa’s Team
SOCIAL NETWORK
60
Voted Capassa as one of the 3 best startups in Norway in 2019
61
Capassa –
Your Digital
CFO
www.Capassa.com