apidays LIVE India 2022: Accelerating India’s digitisation with APIs May 11 & 12, 2022 The rise of Open Finance in South Asia Sanjeev Kumar, Founder at WhiteSight ------------ Check out our conferences at https://www.apidays.global/ Do you want to sponsor or talk at one of our conferences? https://apidays.typeform.com/to/ILJeAaV8 Learn more on APIscene, the global media made by the community for the community: https://www.apiscene.io Explore the API ecosystem with the API Landscape: https://apilandscape.apiscene.io/ Deep dive into the API industry with our reports: https://www.apidays.global/industry-reports/ Subscribe to our global newsletter: https://apidays.typeform.com/to/i1MPEW

1. @whitesig
ht_
© 2022
WhiteSight
0
© 2022 WhiteSight.
The next wave of FinTech Evolution
The Rise of Open Finance
Sanjeev
Kumar
Founder & CEO,

2. @whitesig
ht_
© 2022
WhiteSight
1
2022 SERIES OF EVENTS
New York
JULY
(HYBRID)
Australia
SEPTEMBER
(HYBRID)
Singapore
APRIL
(VIRTUAL)
Helsinki & North
MARCH
(VIRTUAL)
Paris
DECEMBER
(HYBRID)
London
OCTOBER
(HYBRID)
Hong Kong
AUGUST
(VIRTUAL)
JUNE (VIRTUAL)
India
MAY
(VIRTUAL)
APRIL (VIRTUAL)
Dubai & Middle East
JUNE
(VIRTUAL)
Check out our API Conferences
www.apidays.global
Want to talk at one of our conferences?
apidays.typeform.com/to/ILJeAaV8

3. @whitesig
ht_
© 2022
WhiteSight
2
Mindset Maketh Man!
Ecosystems >> Enterprises!

4. @whitesig
ht_
© 2022
WhiteSight
3
All
Music
All
Communications
All
Content
All
Entertainment
All
Shopping
All Finance
Truly Disruptive outcomes are an outcome of
full-stack transformation

5. @whitesig
ht_
© 2022
WhiteSight
4
Payments
Transaction
Products
Bank
Accounts
Investment
Accounts
Insurance
Plans
Fiat
Currency
Treasury
Bonds
Monetary Policy
Instruments
Foreign
Exchange
Reserves
Financial Products
Monetary Products
Financial and Monetary Products Factory

6. @whitesig
ht_
© 2022
WhiteSight
5
Enable access to create financial services
Improve efficiency, Scale and operating costs
Open
Financ
e
Democratizing access to financial services
Manufacturers
Enablers
Distributors
Financial and economic systems are being melted down and
reconstituted

7. @whitesig
ht_
© 2022
WhiteSight
6
The Rise of Open Finance
2015 2016 2017 2018 2019 2020 2021 2022
Regula
tory
Intere
st
Bank
Initiatives
FinTech
Adoption
Investor
interest
M&As
New
Entrants

8. @whitesig
ht_
© 2022
WhiteSight
7
The Global Finance Maturity Index
Source: Tink Report, May 2022

9. @whitesig
ht_
© 2022
WhiteSight
8
Adjacent Industry Trends
01 Open Finance

10. @whitesig
ht_
© 2022
WhiteSight
9
FinTech
Omni channel
retail/
e-commerce
FinTech E-grocery
Travel and
hospitality
E-grocery
Travel and
hospitality
Ecosystem Ecosystem Ecosystem
Telecom,
Internet,
DTH
Omni channel
retail/
e-commerce
E-grocery
Telecom,
Internet,
DTH
FinTech
Omni channel
retail/
e-commerce
The quest to become a SuperApp

11. @whitesig
ht_
© 2022
WhiteSight
10
UNITED STATES UNITED KINGDOM RUSSIA SINGAPORE PHILIPPINES CHINA
Small
Business
Payments &
CRM
Small
Business
Financing
P2P
Payments
Consumer
Banking &
Investing
Small
Business
Banking
BNPL
Cross-
border
payments
Personal
Banking
Business
Banking
Trading &
Investing
Rewards,
Donations,
Travel
Personal
Loans
Consumer
Credit
Personal
Banking
Insurance,
Business
Banking
Trading &
Investing
Telecom,
Travel,
Entertainme
nt
BNPL
Ride Hailing
Comprehensiv
e
Transportati
on
Payments &
Rewards
Food
Delivery
Services
Insurance &
Financing
Digital
Banking
SMS-based
P2P
Payments
E-wallet &
Remittances
Credit &
Investing
Savings &
Insurance
Shopping &
Entertainme
nt
Digital
Banking
E-wallet
Investment
Platform
(Yu'E Bao)
Credit
Scoring
(Sesame
Credit)
Credit &
Insurance
Cross Border
Payment
(ePass)
In-App NFT
Sales
BUSINESS
EXPANSION
PROGRESSION
KOREA
Instant
Messenger
Online
Entertainm
ent
Payments
Ride
Hailing
Internet
Bank
Entertainm
ent & Mass
Media
Financial
Services
Lifestyle
Services
INDIA
Paytm Mall
Payments
Bank
Paytm
First
Games
Platform Finance: From unbundling to re-
bundling
Mobile
Recharge
Mobile
Wallet
Lending &
Insurance

12. @whitesig
ht_
© 2022
WhiteSight
11
#
*
The
Cross
over
*
* Acquired by a bank/fintech with a banking
license | # Procured Banking License
*
As of September 2021 | This is not an
exhaustive list.
Fintersection : The crossover between BNPL and
neobanking

13. @whitesig
ht_
© 2022
WhiteSight
12
◉ GenZ and
Millennials love for
UX
◉ GenX and Boomers
love for privacy
Brand
◉ Cross-industry and cross-
country presence
◉ A suite of hardware and
software services
Scale
◉ Co-creation and
distribution platforms
◉ Merchant and consumer-
centric propositions
Platform
Business Model
◉ Lifestyle and
location data
◉ Device usage patterns
Data
◉ Human Capital
◉ $200+
billion in cash
and investments
Capital
CRA license with FCA
◉
AISP license with FCA
◉
Regulatory
license
Bank aggregation and data
enrichment ◉
Risk models and decision
engine ◉
Technology
Finance and open banking
experts ◉
Analytics, UX, and
decision science talent
◉
Talent
Loan history data ◉
Open banking data ◉
Data
FinTech product
partnerships ◉
Tech & BaaS
partnerships ◉
Partnerships
Fintersection: BigTech &
Open Banking

14. @whitesig
ht_
© 2022
WhiteSight
13
Evolution of FinTech
01 Open Finance

15. @whitesig
ht_
© 2022
WhiteSight
14
Payments
Lendingte
ch
Investmen
t Tech
Insurtech
Neobankin
g
Fintech
SaaS
Cryptocur
rency
India FinTech : A Traditional Snapshot

16. @whitesig
ht_
© 2022
WhiteSight
15
Infrastructure Platforms
Other
Financial
Products
Paymen
ts
Lendin
g
Financial
Software
India FinTech : An Evolutionary Snapshot

17. @whitesig
ht_
© 2022
WhiteSight
16
Open Finance Digital
Finance
Embedded
Finance
Platform
Finance
Decentralized
Finance
Green Finance
FinTEC
H
FINTe
ch
Global
India
Global
India
Future of Fintech : The Next orbital jump on
these axes

18. @whitesig
ht_
© 2022
WhiteSight
17
Trust the
intermediary
uture of
intech
OPEN DIGITAL
EMBEDDED
DECENTRALIZED
GREEN
PLATFORM
Data
Ownership
Consent-based
Data Sharing
Product
Manufacturing
Contextual & Embedded
Distribution
Branches are
key assets
Anytime, Anywhere, Any
Device
Accountable to
Shareholders
People, Planet,
and Profit
Build-Own-
Operate
SuperApp
Orchestration
Trust the Technology
© 2022 WhiteSight.
Future of FinTech

19. @whitesig
ht_
© 2022
WhiteSight
18
Open
Finance
Open Finance has an interplay with Future of
FinTech themes

20. @whitesig
ht_
© 2022
WhiteSight
19
Open Finance In India
01 The Future of Finance

21. @whitesig
ht_
© 2022
WhiteSight
20
Account Aggregators
NBFC-AA License Holders
Technical Service Providers
Product design | API providers | Digital lending (OCEN) | Underwriting modelers |
Onboarding | SME scorecards | Early Warning monitors | Data Analytics | Data
Standards | User Experience
Financial Information Providers
Banks | NBFC | GSTN | Insurers | Brokers
Financial Information Users
(Regulated by RBI, SEBI,IRDAI, PFRDA)
Banks | Neobanks | NBFC lenders | Digital Lenders | Wealth managers | Insurance firms | Pension fund managers
Open Data
Aggregators
Open Data
Providers
Open Data Seekers
Open Capabilities
Providers
Open Banking Use
cases
USE CASES
PFM | BNPL | Credit Scoring | Subscription Management |
| Account-based payments | Wealth management
| Robo Advisory
BFM | Cash flow based lending |
Channel Finance | Invoice discounting | Automated Accounting |
Cash flow based lending
Consumer-facing Business-facing
Consent management | Data exchange flows | Consumer apps
Value Addition Layer
Encrypted Plumbing Layer
Open Experience
Orchestrators
Personal Data Holders
Industry
Infrastructure
• DEPA
• OCEN
• UPI
• Aadhaar
• CKYC
• PCR
• GeM
Open Finance: The open banking stack in India

22. @whitesig
ht_
© 2022
WhiteSight
21
2001-
10
2011-
13
2014-
16
2020-
22
2017-
19
• Unified Payments Interface (UPI) Launch
• Government e-Marketplace (GeM) Launch
• Central KYC Registry launch
• e-Sign & DigiLocker introduced
• Credit bureaus - CIBIL, Experian, Equifax and High Mark established
• Unique Identification Authority of India (UIDAI) established
• Aadhaar based e-KYC
• Goods and Services Tax Network (GSTN) platform launch
• Open Government Data (OGD) Platform launch
• Immediate Payment Service (IMPS) Launched
• Data Empowerment & Protection Architecture (DEPA)launch
• AA Sandboxes go live
• Aadhaar on Mobile launch
• 1st Operational license for AA issued
• Technical Specifications for Account Aggregator (AA) ecosystem released
• Regulatory Sandbox launch
• Open Credit Enablement Network (OCEN) Launch
• Vendor shortlisting for Public Credit Registry (PCR) framework
• Launch of e-mandate for recurring payments
• Kashi and KYC Setu prototypes
• e-RUPI launch
• Innovation Hub launch
• AA ecosystem goes live
• ONDC Platform announced
• Report on Non-Personal Data Governance Framework
• E-Invoices mandated for Businesses (> INR 50 Cr revenues)
• RBI expands scope for Card-on-File Tokenization
• Digital Banking Units announced
• UK Sinha’s committee report on Loan Service Providers for MSMEs
• Data Protection Committee report
• The Personal Data Protection Bill introduced
• Sahamati, an account aggregator industry body setup
• Data localization directive issued
• In-Principle Licenses To 5 Account Aggregators
• E-Way bills introduced
• UIDAI gets statutory status
• The Aadhaar Act passed
• Account Aggregators(AA) circular issued
• Open API policy notified by MeitY
• Direct Benefit Transfer launched
• PCI-DSS certification mandate issued
• Citizenship Act amendment
• Pilot project initiated on Multi-purpose National Identity Cards to Indian
citizens
DIGITAL INFRASTRUCTURE COMPONENTS REGULATORY POLICIES & DIRECTIVES
Digital infrastructure & regulatory policy
timeline

23. @whitesig
ht_
© 2022
WhiteSight
22
OPEN ECONOMY
Open Data
(e-Commerce, Payroll,
Utility, Healthcare)
Open Business Models
(Embedded finance,
DeFi)
Open Talent
(Gig economy,
Global Talent)
Open Experiences
(Hyper-personalized experience,
Invisible banking)
OPEN FINANCE
Open Products
(Curated marketplace,
Aggregators)
Open Processes
(Alternate credit scoring,
Flow-based lending)
Open Innovation
(Industry incubators, Sandboxes)
Open Assets
(Banking as a Service,
Compliance as a service)
OPEN BANKING
Open Accounts Information
(AISPs ,Account aggregation)
Open Payments
(PISPs, Strong customer
authentication)
Open APIs
(Customer consent,
Standard interfaces)
CLOSED
BANKING
OLIGOPOLISTIC
COMPETITION
RADICAL COLLABORATION
ENTERPRISE
CENTRIC
ECOSYSTEM
CENTRIC
Scope: Data sharing
for account
information and
payments initiation
Scope: Data & capabilities sharing across financial
sectors including mortgages, pensions, investments,
insurance, etc.
Scope: Data & capabilities sharing across industries
including E-Commerce, Gaming, Payroll, Utility,
Healthcare, Telecom, etc.
The Open Banking Evolution: From Beginning To
Beyond

24. @whitesig
ht_
© 2022
WhiteSight
23
Follow us on:
@whitesight_whitesight