This document discusses the concept of banks becoming platforms through the use of open APIs. It argues that APIs can help banks overcome legacy IT systems and drive innovation by allowing third party developers to build applications and services on top of bank data and services. The Open Bank Project is presented as an open source project and API that banks can implement to become more open and accessible to developers. Examples of applications that have been built using the Open Bank Project API are provided like accounting and financial analytics tools. The benefits of APIs for banks, developers and customers are outlined.

1. Bank as a
Platform
- Bank Presentation -
Banks at the API table
Simon Redfern, Founder
simon@tesobe.com
Ismail Chaib
The Open Bank Project
Ismail@tesobe.com

2. Ismail CHAIB - @iChaib
@OpenBankProject

3. Banking today…

4. What about the future?

5. Bank as a Platform
Individuals & Businesses.
API
Bank

6. Strong appetite for innovation
Banks increasing innovation investment
26% invested
in channel
innovation
13%
77%
2009
2013
Consumers believe their bank should be investing more
in Internet and mobile channels
Source: Innovation in Retail Banking 2013, Efma-Infosys

7. Hampered by IT legacy system
!!!!
The #1 barrier to innovation is IT system
Source: Innovation in Retail Banking 2013, Efma-Infosys

8. APIs, huge benefits to reap
Source: faberNovel, 6 reasons why API are reshaping our business
An API reduces the time, complexity and cost of deploying banking apps
Banks can leverage the OBP API to create better customer relationships

9. The API Value Proposition
Retail / corporate
banks
✔
Banks instantly offer new apps to their customers and launch
new services faster, cheaper and securely whilst retaining data
control and remaining the main customer touch point
Trusted
Party
Developers
✔
Developers have easy access to banking data and trusted
services
✔
3rd
Customers enjoy a much greater choice of high quality and
secure services
Individuals & Businesses.
Open Bank API fosters a API to create better customer relationships
Banks can leverage the OBPcustomer-centric open innovation ecosystem

10. The Open Bank Project
The Open Bank Project is an open
source API and App Store for banks
And a community of developers using it
Open Bank API fosters a API to create better customer relationships
Banks can leverage the OBPcustomer-centric open innovation ecosystem

11. Use Case #1: KashFlow
Bank reconciliation for accounting software

12. Use Case #2: Momentum
Financial KPIs and cashflow forecast

13. Use Cases
Category
Name
Description
Produced by
Kashflow
UK Leading accounting Software for SMEs
Kashflow
Momentum
Business Analytics for SMEs
BCMLogic
PFM
MoneyGarden
Personal finance management solution
MoneyGarden
Data
Visualisation
MoneyJourney
Displays financial flows on a 3D globe
Independent
developers
Social Finance
Financial Transparency for Non-Profit
organisations
TESOBE
CashTrack
Financial Transparency for current accounts.
Transparency
International
SpeakingBank
Banking for visually impaired people (mobile)
TESOBE
BankingBanquet
Different user interfaces according to the
user’s preference (tablet)
TESOBE
Accounting
CSR
Customized
User
Experience
More information on http://openbankproject.com/en/apps/
Banks can leverage the OBP API to create better customer relationships

14. How it works
Bank’s
Customers
4
3
2
Bank-Branded
App Store
OBP App Store
Trusted
developers
Mobile and web applications
The Bank
OBP API
1
Bank agnostic
interface
Bank-specific
Connectors
Bank’s Legacy IT
System

15. Active developers community
• A growing international community of
developers and system integrators.
• 11+ apps using the Open Bank Project
API
• Support from The Open Data Institute
and wider Open Data community
• 500+ registrations on mailing list
• 4 hackathons per year
“The future is already
here — it's just not very
evenly distributed”
William Gibson

16. API drives innovation
A large innovation potential to unlock

17. API drives growth
By making customers happier

18. Should banks be concerned?
Reasons to worry
Why you should not
Security/Privacy
Bank-Level security
Loosing control
Monitoring dashboard provides more control
Brand dilution
Feasibility
Bank stays at the center of interaction
www.OpenBankProject.com

19. Definitely!
…
Payments
Account
Aggregation
Mobile Banks
New entrants?

20. Our version of the future…
Individuals & Businesses.
API
Bank

21. We have PoCs with banks
Incubated at

22. An open API for every bank!
Why do we need a
Web site?
1995
Of course we
have a Web site
2000
Why do we
need an API?
2010
Of course we
have an API
2015
“We believe that the Open Bank Project will be
appealing to developers because of the ability to
build an app that can then be used by any
bank or customer.”
Kristin Moyer,
Research Vice President, Banking & Investment Services, Gartner
Source: Hype Cycle for Open Banking, July 2013
Inspired by ProgrammableWeb

23. Thanks
Ismail Chaib
ismail@tesobe.com
www.openbankproject.com