Successfully reported this slideshow.
Your SlideShare is downloading. ×

apidays LIVE LONDON - Open Finance, it's already happening by Dave Tonge

Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad

Check these out next

1 of 13 Ad
Advertisement

More Related Content

Slideshows for you (20)

Advertisement

More from apidays (20)

Advertisement

apidays LIVE LONDON - Open Finance, it's already happening by Dave Tonge

  1. 1. Open Finance It’s already happening Dave Tonge CTO
  2. 2. About Me ● CTO at Moneyhub ● I’m an active contributor & now co-editor of the FAPI specs ● FAPI WG Liaison Officer to UK OpenBanking Implementation Entity ● UK Expert at ISO TC68 SC9/WG2 - Financial APIs ● Technical Representative for the Financial Data & Technology Association ● Key proponent of the use of CIBA spec for financial use-cases ● Represent AISPs at OpenBanking & the FCA.
  3. 3. About Moneyhub ● UK Based Fintech established since 2011 ● We build an intelligent financial assistant and work with our partners to improve the financial wellbeing of their clients ● Founding member of FDATA ● Active with the Open Banking Working Group ● Active in lobbying the CMA to require a “common” OpenBanking API ● One of the first Account Information Service Providers in Europe
  4. 4. The Road to OpenBanking
  5. 5. The Road To OpenBanking I’ve been a reluctant screen scraper since 2013. Nat Sakimura came to the UK in June 2016 shortly after starting FAPI. The timing was perfect & thankfully we were able to get the evolving FAPI security profile adopted by UK Open Banking
  6. 6. Open Finance - APIs & Screen Scraping
  7. 7. Moneyhub is core to any personalised digital proposition. Available data sources are selected in priority order to form the most accurate, cost effective aggregated account for your customer. Budgeting Categorisation Smart Nudges Screen Scraping e.g. Yodlee eWise OTHER EXTERNAL SOURCES OF DATA Open Banking Intermediated e.g. Platforms Administrators Third parties e.g. Fund data House prices Pension dashboards Credit scores Socio-economic e.g. Demographic Behavioural ENTERPRISE OWNED OR SOURCED DATA CORE MONEYHUB Manually entered data Enterprise owned data e.g. Pensions Investments Insurance Mortgages Enterprise owned products e.g. Voluntary benefits ISA’s Mortgages Insurance Enterprise agreed Market place Machine learning 7
  8. 8. Initiatives happening in the UK and Europe Berlin Group - Open Finance Pension Dashboard Project Open Savings & Investment Smart Data
  9. 9. What about FAPI
  10. 10. FAPI Financial-Grade API ➢ Producing specs that codify OAuth security best practices ➢ Right people: authors of OpenID, JWT & many OAuth RFCs ➢ Right structure: active working group at OpenID Foundation with weekly calls and open collaboration on Bitbucket ➢ Right IPR: Royalty free & mutual non-assert ➢ Worldwide adoption (UK, Japan, Australia, USA, etc)
  11. 11. ➢ Standardisation - the unsung hero of security and an aid to innovation ➢ Conformance - boring but incredibly important ➢ Authentication and Authorisation - the hardest part of any API
  12. 12. Open Finance is here, but there is still a long way to go!
  13. 13. Dave Tonge CTO, Moneyhub

×