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Elias GagasChief Digital Officer
APIs as a new Banking Channel
The “Great Divide / Gap” behind the FinTech (R)evolution
APIs are Connectors…
The Bank of the Future is a PlatformIt’s the Everyday Bank – facilitating several customer journeys
Inter-Connected
OpenAPIs
Everyday Bank
PlatformBaaS BaaP
PSD2 Conundrum – “Utility” OR “Everyday Bank”?The PSD2 era is here – you must make a decision regarding your strategy
Source: Accenture
360° Banking Technology Stack PSD2 & APIs are part of a wider Paradigm Shift in Banking & Financial Services
360° of Banking
1The emergence of a
new World!
›PSD2 & APIs›Banking as a Service (BaaS)›Banking as a Platform (BaaP) ›A global FinTech ecosystem›The rise of the Internet Economy!
2Requires a new
Technology Paradigm
Effectively creates the need for a new Banking Technology Stack Paradigm, which we call “360° Banking Technology Stack”
In this new environment, Banks need to encompass a far bigger & not fully owned
scope of Services/Operations Vs the traditional fully owned model
3And Creates a newBanking Paradigm
Fully Owned Technology StackBank as a Silo
Core Banking Tech Stack
Digital Banking Front EndBank to Bank Connectivity
360° Banking Technology Stack Bank as an active participant in the FinTech (R)evolution & the Global Financial Services ecosystem
Global FinServ Ecosystem
Core Banking Tech Stack
Digital Banking Front End
Connected 3rd Party Apps
API Platform
API is a new Banking ChannelExpanding the Bank’s reach to the FinTech ecosystem & beyond it’s own customer base
API
TMS
PFM
?
???
AISPPISP
How does PSD2 affect existing business Models? APIs Disintermediation in action
PSD2
Loss of Fees from Card-Based Transactions
Loss of Customer ‘Ownership’ and Insights
“Barrier of Exit” for existing Customers potentially reduced
How does PSD2 create new business Models? APIs & Disruption in action
Source: Accenture
Let’s See an actual exampleof an API Channel enabled
Bank…
360° Banking Technology Stack Bank as an active participant in the FinTech (R)evolution & the Global Financial Services ecosystem
Global FinServ Ecosystem
Core Banking Tech Stack
Digital Banking Front End
Connected 3rd Party Apps
API Platform
64 Princes Court , 88 Brompton Road , Knightsbridge, London SW3 1ET, United Kingdom | Tel. : +44 2071172538 | www.paymentcomponents.com
Empowering FinTech Innovation!
@paymentcomp
Elias GagasChief Digital [email protected]
