Your SlideShare is downloading. ×
  • Like

Thanks for flagging this SlideShare!

Oops! An error has occurred.


Now you can save presentations on your phone or tablet

Available for both IPhone and Android

Text the download link to your phone

Standard text messaging rates apply

WSO2Con Asia 2014 - Connected Business and the API Economy: Challenges & Opportunities



Published in Technology
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads


Total Views
On SlideShare
From Embeds
Number of Embeds



Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

    No notes for slide


  • 1. The Connected Business & the API Economy: Challenges & Opportunities Rana Peries Head of Innovation & Digital Financial Services Technology, Asia Commonwealth Bank of Australia
  • 2. Welcome to the API Economy The API Economy is the economy where companies expose their business services in the form of APIs to external parties in order to generate additional revenue
  • 3. Customers are demanding a more personalised service, integrated into their lifestyles Source: Forrester Research Inc. Next Generation Financial Services Simple: Make it easy for customers to achieve their goals. Ubiquitous: Interact with customers wherever they want. Personal: Make the entire experience relevant to personal needs. Empowering: Enable customers to take action by themselves. Reassuring: Provide human help whenever it adds value.
  • 4. Disruption and disruptors Taxi industry – Allows passengers to easily find and book taxi services providing a better deal for the passenger and taxi Hotel industry - Allows owners of houses and apartments to easily find and connect with potential short term renters Banking & payments industry – Allows people to use airtime as a payment mechanism $2.5 B
  • 5. In the connected economy, customers have a greater choice. Should the businesses be concerned? Source: McKinsey Quarterly, November 2005 According to McKinsey & Co., high-potential customers acquired at age 30 and remaining loyal throughout their active lifetime are worth 30% to 70% more than the high potential but non-loyal ones, whose value to the bank gradually erodes or who eventually leaves the bank all together.
  • 6. What is the Connected user experience consumers are looking for?
  • 7. Monetizing the APIs – API business models API enriches the product & content. API is free to use API is the core value or the product. The user pays a transaction fee based on the usage. The API promotes the product as in the Expedia affiliate program and improves distribution The API provides an alternate way to access the product and improves the distribution $1.5 B $2 B
  • 8. APIs that aggregate businesses• Google Now?
  • 9. Winning in the API Economy Gartner predicts 75% of Fortune 500 enterprises will open an API by 2014. In this new API economy, those without an API strategy will be left behind.
  • 10. Winning in the API Economy Product centric to Human Centric Value chain to Ecosystem IT systems complexity Security concerns Regulatory environment
  • 11. Business Services Business Services Business Services Enabling the Connected Business - Architecture LOB Systems (Banking) LOB Systems (Insurance) LOB Systems (Investments) Business Services and Business APIs Business Systems Integration (WSO2 ESB) LOB Systems (Banking) LOB Systems (Insurance) LOB Systems (Investments) Business Services and Business APIs Process Orchestration (WSO2 Business Process Server) Security & Management (WSO2 API Manager & Identity Server) Business Services and Business APIs
  • 12. Connected innovation at CBA• Google Now?