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APIs as a new Banking Channel

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Presented at the EFMA Digital Channels Council, in Turin, on March 22nd 2017.

Published in: Economy & Finance
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APIs as a new Banking Channel

  1. 1. Elias Gagas Chief Digital Officer APIs as a new Banking Channel
  2. 2. The “Great Divide / Gap” behind the FinTech (R)evolution
  3. 3. APIs are Connectors…
  4. 4. The Bank of the Future is a PlatformIt’s the Everyday Bank – facilitating several customer journeys Inter-Connected Open APIs Everyday Bank Platform BaaS BaaP
  5. 5. PSD2 Conundrum – “Utility” OR “Everyday Bank”? The PSD2 era is here – you must make a decision regarding your strategy Source: Accenture
  6. 6. 360° Banking Technology Stack PSD2 & APIs are part of a wider Paradigm Shift in Banking & Financial Services 360° of Banking 1 The 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! 2 Requires 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 3 And Creates a new Banking Paradigm
  7. 7. Fully Owned Technology Stack Bank as a Silo Core Banking Tech Stack Digital Banking Front End Bank to Bank Connectivity
  8. 8. 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
  9. 9. API is a new Banking Channel Expanding the Bank’s reach to the FinTech ecosystem & beyond it’s own customer base API TMS PFM ? ??? AISP PISP
  10. 10. How does PSD2 affect existing business Models? APIs Disintermediation in action Loss of Fees from Card-Based Transactions Loss of Customer ‘Ownership’ and Insights “Barrier of Exit” for existing Customers potentially reduced
  11. 11. How does PSD2 create new business Models? APIs & Disruption in action Source: Accenture
  12. 12. Let’s See an actual example of an API Channel enabled Bank…
  13. 13. 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
  14. 14. Want to see the demo in action? Send us an email at Sales@paymentcomponents.com
  15. 15. 64 Princes Court , 88 Brompton Road , Knightsbridge, London SW3 1ET, United Kingdom | Tel. : +44 2071172538 | www.paymentcomponents.com Empowering FinTech Innovation! @paymentcomp Elias Gagas Chief Digital Officer elias.gagas@paymentcomponents.com

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