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Introduction
Tail
AWS Loft Event, 20th September 2017
Tail
Real-time cashback promotions for open APIs
The first open cashback platform
Tail is the first open cashback platform...
Open APIs are a new consumer touchpoint
Open APIs represent a new touchpoint with the consumer -
beyond purely banking-rel...
Integrating with Starling
• First publicly available current account API
• 3 months from start to finish of integration, i...
Key points(1)
• PSD2 will regulate existing payment service providers (PSPs) as well as the operators of e-commerce
market...
How open APIs are going to change the industry
Implications for businesses, challenges and risks
Convergence of industries...
Real-time cashback
promotions linked to your
card.
Download “Tail Offers” on the
app store and simply sign in
with your St...
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Tail and Open APIs

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Tail's Slides from the AWS Pop-up Loft event called Open Banking

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Tail and Open APIs

  1. 1. Introduction Tail AWS Loft Event, 20th September 2017
  2. 2. Tail Real-time cashback promotions for open APIs The first open cashback platform Tail is the first open cashback platform able to work across banks, enabling retailers to feed in promotions which are automatically pre-linked to a user’s card. Real-time promotions Promotions displayed are time-, location- sensitive, can be tailored to specific audiences and are updated in real-time. Convenience All display and redemption of promotions happens in-app, delivering a frictionless user experience by eliminating the need for paper or voucher codes or staff interaction.
  3. 3. Open APIs are a new consumer touchpoint Open APIs represent a new touchpoint with the consumer - beyond purely banking-related products. A better user experience Engaging the user depends on delivering a better user experience in terms of convenience and/or personalization – which APIs allow for. Eliminating friction in ‘classic’ offer marketing ‘Classic’ way of running promotions entails a number of friction points for the consumer (e.g. ‘2nd class’ customer experience) and the retailer (e.g. voucher fraud). Tail eliminates those friction points for all parties involved by digitizing and simplifying the redemption process. • High value offers • Maximum convenience = a better experience User Retailer • Better targeting & no more blanket marketing • Ease of use & time-saver How open APIs help to deliver a better user experience
  4. 4. Integrating with Starling • First publicly available current account API • 3 months from start to finish of integration, including • Technical integration • Compliance review Building and integrating the solution Jan Feb Mar Apr May Jun Jul Aug Sep Integration Starling launch Tail launch Building the solution • Concept development mid-16 • Built on AWS as proven solution in regards to security, scalability and ease of use
  5. 5. Key points(1) • PSD2 will regulate existing payment service providers (PSPs) as well as the operators of e-commerce marketplaces and platforms, gift card and loyalty programs, amongst others • PSD2 introduces two new payment services to cover third-party providers (TPPs) – Payment initiation Service Providers (PISPs) and Account Information Service Providers (AISPs) • PSD2 mandates how account-servicing PSPs must interact with TPPs, with a key focus on security (reporting requirements, authentication and technical standards) • In the UK, the FCA will be responsible for ensuring AISPs and PISPs are registered or authorized • PISPs must be authorized and must have a minimum of €50,000 in initial capital (or higher if they provide certain other payment services) • For AISPs, there is an option to become a ‘registered account information service provider’ • i.e. no capital requirements and will need to meet fewer conditions than authorized firms • Both AISPs and PISPs will have to hold professional indemnity insurance (PII) • The EBA has developed Guidelines on PII 1) PSD2 – Ramifications for existing market players, Osborne Clarke April 2017 Regulatory environment PSD2 has introduced new payment services to cover third parties
  6. 6. How open APIs are going to change the industry Implications for businesses, challenges and risks Convergence of industries will accelerate Integration vs fragmentation Marketplaces will become ecosystems 1 2 3 • Importance of transaction data extends beyond banking • Can be used to tailor solutions in industries such as healthcare, insurance or retail • New business and commercial models can evolve (e.g. Mable FinCare) • ‘Buy-vs-build’ becomes ‘buy-vs-interface-vs-build’ • Standardized APIs increase commercial viability of interfacing • Businesses will need to be open to avoid isolation • Current marketplaces will initially see lots of new integrations/ startups • Emergence of gatekeepers given caution around data sharing • ‘2nd level’ integration among marketplace constituents
  7. 7. Real-time cashback promotions linked to your card. Download “Tail Offers” on the app store and simply sign in with your Starling account. Don’t have a Starling card? Use our skip the line code for Starling Bank ‘CASHBACK’ and redeem instantly with Apple Pay.

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