Embed Size (px)
DESCRIPTION
Citation preview
Simon Redfern, Founder
Bank as a
Platform
- Bank Presentation -
Banks at the API table
Ismail Chaib
The Open Bank Project
Ismail CHAIB - @iChaib
@OpenBankProject
Banking today…
What about the future?
Bank as a Platform
Individuals & Businesses.
Bank
API
Strong appetite for innovation
77%13%
2009 2013
Consumers believe their bank should be investing more
in Internet and mobile channels
Banks increasing innovation investment
Source: Innovation in Retail Banking 2013, Efma-Infosys
26% invested
in channel
innovation
Hampered by IT legacy system
The #1 barrier to innovation is IT system
Source: Innovation in Retail Banking 2013, Efma-Infosys
!!!!
APIs, huge benefits to reap
Banks can leverage the OBP API to create better customer relationships
Source: faberNovel, 6 reasons why API are reshaping our business
An API reduces the time, complexity and cost of deploying banking apps
The API Value Proposition
Banks can leverage the OBP API to create better customer relationships
Individuals & Businesses.
Developers have easy access to banking data and trusted
services
Customers enjoy a much greater choice of high quality and
secure services
Banks instantly offer new apps to their customers and launch
new services faster, cheaper and securely whilst retaining data
control and remaining the main customer touch point
Trusted 3rd Party
Developers
Retail / corporate
banks
✔
✔
✔
Open Bank API fosters a customer-centric open innovation ecosystem
The Open Bank Project
Banks can leverage the OBP API to create better customer relationships
The Open Bank Project is an open
source API and App Store for banks
And a community of developers using it
Open Bank API fosters a customer-centric open innovation ecosystem
Use Case #1: KashFlow
Bank reconciliation for accounting software
Use Case #2: Momentum
Financial KPIs and cashflow forecast
Use Cases
Banks can leverage the OBP API to create better customer relationships
Category Name Description Produced by
AccountingKashflow UK Leading accounting Software for SMEs Kashflow
Momentum Business Analytics for SMEs BCMLogic
PFM MoneyGarden Personal finance management solution MoneyGarden
Data
Visualisation
MoneyJourney Displays financial flows on a 3D globe Independent
developers
CSR
Social Finance Financial Transparency for Non-Profit
organisations
TESOBE
CashTrack Financial Transparency for current accounts. Transparency
International
Customized
User
Experience
SpeakingBank Banking for visually impaired people (mobile) TESOBE
BankingBanquet Different user interfaces according to the
user’s preference (tablet)
TESOBE
More information on http://openbankproject.com/en/apps/
How it works
OBP API
Bank’s Legacy IT
System
Bank’sCustomers
Trusted
developers
The Bank
Mobile and web applications
Bank agnostic
interface
Bank-specific
Connectors
OBP App StoreBank-Branded
App Store
1
2
3
4
Active developers community
• A growing international community of
developers and system integrators.
• 11+ apps using the Open Bank Project
API
• Support from The Open Data Institute
and wider Open Data community
• 500+ registrations on mailing list
• 4 hackathons per year
“The future is already
here — it's just not very
evenly distributed”William Gibson
API drives innovation
A large innovation potential to unlock
API drives growth
By making customers happier
Should banks be concerned?
Reasons to worry Why you should not
Security/Privacy Bank-Level security
Loosing control Monitoring dashboard provides more control
Brand dilution Bank stays at the center of interaction
Feasibility www.OpenBankProject.com
Definitely!
Account
AggregationPayments New entrants?
…
Mobile Banks
Our version of the future…
Individuals & Businesses.
Bank
API
We have PoCs with banks
Incubated at
An open API for every bank!
1995
Why do we need a
Web site?
2000 2010 2015
Of course we
have a Web site
Of course we
have an API
Why do we
need an API?
“We believe that the Open Bank Project will be
appealing to developers because of the ability to
build an app that can then be used by any
bank or customer.”Kristin Moyer,
Research Vice President, Banking & Investment Services, Gartner
Source: Hype Cycle for Open Banking, July 2013Inspired by ProgrammableWeb
