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Where Finance & Technology meet
2
FinConecta partnered with AWS to build the most robust platform
to accelerate digitization of the Financial Industry
FinConecta, an AWS Advanced Partner, is a global technology company that
brings together digital solutions and businesses in the financial world and
beyond. FinConecta’s platform, 4wrd, accelerates digital transformation and
open banking, facilitating different use cases and new business
opportunities.
Through partnerships with IDB (Inter American Development Bank), FMO
(Dutch Development Bank), Stefanini (technology / consulting firm with
businesses in 40+ countries), and Prosa (the largest payment processor in
the country), FinConecta has launched multiple projects that accelerate
open banking and open innovation in different parts of the world, creating a
global interconnected network.
To learn more, visit finconecta.com
For 14 years, Amazon Web Services has been the world’s most
comprehensive and broadly adopted cloud platform. AWS offers over 175
fully featured services for compute, storage, databases, networking,
analytics, robotics, machine learning and artificial intelligence (AI),
Internet of Things (IoT), mobile, security, hybrid, virtual and augmented
reality (VR and AR), media, and application development, deployment,
and management from 77 Availability Zones (AZs) within 24 geographic
regions, with announced plans for nine more Availability Zones and three
more AWS Regions in Indonesia, Japan, and Spain. Millions of
customers—including the fastest-growing startups, largest enterprises,
and leading government agencies—trust AWS to power their
infrastructure, become more agile, and lower costs.
To learn more about AWS, visit aws.amazon.com.
Behind Open Finance Platform
3
Open Banking Update
Open Banking is the standard, by mandate and by choice
1. Hype Cycle for Open Banking APIs, Apps and App Stores, Gartner 2015
● Enacted
● Active consideration
2. National Australia Bank, Commonwealth Bank, Australia and New Zealand Banking Group, Westpac
Europe: UK CMA Open
Banking Standard
and EU PSD2 came into
force in January 2018.
USA: Industry groups
developed frameworks for
common open banking
standards
Brazil: The central bank is
advancing with the design
of an open banking
model.
Mexico:
Continues to be the open
banking hotspot for
LATAM; FinTech Law
requires Mexico to
publish an open banking
standard by March 2020.
Singapore: Monetary Authority
published an API framework for
governance, implementation, use
cases, and design principles.
Australia: The four major banks2
in
Australia must make banking data
available to third-party providers
by June 2019.
Hong Kong: The Open API
Framework includes a four-phase
approach for banks to implement
open API functions.
Japan: Bank of Japan amended
the Banking Act, calling for 80
Japanese banks to open their APIs
by 2020.
Open Banking Standards
Africa: Central Bank of Nigeria places open banking on its
Payments Vision Statement (PSV) 2030, efforts by Open Banking
Ng is to partner with multiple players through a formal initiative;
Fintechs pushing Open Banking in South Africa; Efforts underway
in Rwanda based on PSD2 model.
Israel: Open Banking regulations
to be launched in 2021
Our Solution
Open Finance is a turnkey solution
that provides Financial Institutions
with the infrastructure for the
transition to a more digital
business, open banking and allow
easy integration to third party
providers.
Simplify selection and integration of
Fintechs and accelerate the
adoption of multiple Open Banking
business models.
Overview
Open Finance
Collaboration with 3 party
providers is key for a
successful business model.
Financial Institutions around the
world are eager to learn how to
transform digitally, simplify the
selection and integration of
Fintechs, and accelerate the
adoption of multiple Open Banking
business models.
Open Banking Landscape
Along with Open Banking (and now
Open Finance), the API economy
has opened the door to more
advanced and dynamic
collaborative styles. Through these
API-enabled business models,
banks are beginning to transform
themselves from infrastructures
that offer individual services to
robust platforms that offer full
digital capabilities.
5
Traditional Model
One single connection facilitates
the integration of several solutions
Point to point connections
where each solution requires
new and separate integrations
Open Finance Model
How do we do it?
We connect
Open Finance offers a unique
integration model through one single
integration, accelerating time to market
at a fraction of the cost.
Integrations are securely done through
FinConecta’s proprietary engine 4wrd
Open Finance’s engine
4wrd delivers simple, fast, and efficient integration capabilities, to
expand business models and create new revenue streams, at a fraction
of the time and the cost.
4wrd main benefits
● Single integration, access to multiple solutions
● Launch applications up to 10 times faster
● Build an ecosystem and bring together multiple players
● Create new revenue streams
● Reduce costs
6
Platform Features
7
Engine’s modules
4wrd is FinConecta’s proprietary middleware and is built on the
foundation of the most modern and reliable technological
infrastructure of APIs and ESB, creating a modular, flexible and
scalable structure capable of supporting open architecture models.
Store Online catalogue
featuring a premium array of
solutions.
API Gateway A platform that
administers APIs and facilitates
the integration of third party
solutions.
Sandbox provides a secure
environment for testing before
going into production.
Data Lake. A centralized repository
that allows the storage of all structured
and unstructured data to enable
different types of analytics.
8
Open Finance functional architecture
End-Users
Approved 3rd
Party providers
CoreSystems
API’s
Marketplace
(Fintech
Ecosystem)
Developer Portal
Open Finance Platform
Integration Services
Own B2B/B2C
Marketplace
9
Improve Customer Experience &
Expand Product Base
Continuously improve innovation
and services, by offering new
products to customers
Open APIs and Management Tool
Normalization of API’s - PSD2
regulatory requirements and
position as a leader and facilitator
of Open APIs
Time to Market
Accelerate the digitization
process and time to market
(from months to weeks)
Additional Revenue
Expand opportunities by
unlocking new
business models
Capex vs Opex
Deploy solutions at a fraction
of the cost of traditional integration projects.
Pay a PaaS-type monthly subscription services
The Value behind Open Finance
Compliance & Security
Platform is secure, simple and fast.
Governance is compliant in a dynamic
ecosystem. Infrastructure is scalable and
modular
z
10
Financial Marketplace
Categories
BUSINESS
FINANCIAL
MANAGEMENT
• Financial Mngt
Training
• Payables
Administration
• Receivables
Administration
• Reconciliation
Tools
• Supply Chain
Finance
DATA SOLUTIONS
• Data Analytics
• Big Data
• Data Aggregation
COMPLIANCE,
IDENTITY & ACCESS
MANAGEMENT
• Access Management
• Application Fraud
Detection
• Customer
Onboarding
• Enterprise Fraud
Management
• Identity
Management
PROCESS
DIGITISATION &
LIFECYCLE
MANAGEMENT
• BPM - Retail
• BPM - SME /
Corporate
• Document Capture
• Cash Supply Chain
Management
• Collections
• Virtual ATM
PAYMENTS &
PAYMENT
PROCESSORS
• Local Payments
• Merchant
Payments
• Mobile Wallets
• P2P Payments
• Payment (Bill
Aggregation)
• Remittances
DIGITAL BANKING
• Agency Banking
• Internet Banking
• Mobile Banking
PERSONAL
FINANCIAL
MANAGEMENT
• Financial
Education
• Savings and
Budgeting
• Tax Filing Support
Tools
• Robo Advisor
RISK MANAGEMENT:
CREDIT SCORING &
COLLECTION
• Alternative Credit
Scoring
• Collection Services
• Credit Analysis
• Portfolio
Management
• Sensor and/or
Image-based
Scoring
• Transactional Credit
Scoring
CUSTOMER
ENGAGEMENT
• Chatbot
• CRM
• Loyalty Programs
• Messaging (Email,
SMS, etc.)
• Messaging (Video)
CORE SYSTEMS
Online catalogue featuring a
premium array of vetted AWS
Fintech digital solutions.
CYBERSECURITY
11
Scale, elasticity &
Real-time processing
Open Banking / Finance success is
linked with data and capacity to
process large volumes of data in
real-time. The number of
transactions and data sources will
significantly increase as Open
Banking develops. Cloud will
support banks to manage those
volumes of data and provide
real-time processing
Role of the cloud in Open Finance
Decrease Costs
It is difficult to predict what
would be the data volumes,
usage patterns and how
regulations will evolve during
the next several years.
Therefore, banks can avoid
upfront infrastructure costs by
using cloud technology
Secure environment
Security and Compliance are the
highest priorities
Microservices oriented
architecture
At a time when banks are
seeking to boost their agility
and shorten time-to-market
for new services, open banking
offers a unique opportunity to
do things in new, modern
ways. Banks can break away
from their monolithic
technology to microservices
oriented architectures
12
PaaS / SaaS
Fee Structure
One time payment Monthly Monthly
13
Let’s connect!
Betty DeVita
Chief Business Officer
FinConecta
betty@finconecta.com
Lior Goddes
Enterprise Team Lead
Amazon Web Services
liorg@amazon.com
(+972-52) 5819 696
www.finconecta.com
contact@finconecta.com
© 2020 Amazon Web Services, Inc. or its affiliates. All rights reserved.
© 2020 FinConecta. All rights reserved.

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Open banking as a service

  • 1. Where Finance & Technology meet
  • 2. 2 FinConecta partnered with AWS to build the most robust platform to accelerate digitization of the Financial Industry FinConecta, an AWS Advanced Partner, is a global technology company that brings together digital solutions and businesses in the financial world and beyond. FinConecta’s platform, 4wrd, accelerates digital transformation and open banking, facilitating different use cases and new business opportunities. Through partnerships with IDB (Inter American Development Bank), FMO (Dutch Development Bank), Stefanini (technology / consulting firm with businesses in 40+ countries), and Prosa (the largest payment processor in the country), FinConecta has launched multiple projects that accelerate open banking and open innovation in different parts of the world, creating a global interconnected network. To learn more, visit finconecta.com For 14 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS offers over 175 fully featured services for compute, storage, databases, networking, analytics, robotics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 77 Availability Zones (AZs) within 24 geographic regions, with announced plans for nine more Availability Zones and three more AWS Regions in Indonesia, Japan, and Spain. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com. Behind Open Finance Platform
  • 3. 3 Open Banking Update Open Banking is the standard, by mandate and by choice 1. Hype Cycle for Open Banking APIs, Apps and App Stores, Gartner 2015 ● Enacted ● Active consideration 2. National Australia Bank, Commonwealth Bank, Australia and New Zealand Banking Group, Westpac Europe: UK CMA Open Banking Standard and EU PSD2 came into force in January 2018. USA: Industry groups developed frameworks for common open banking standards Brazil: The central bank is advancing with the design of an open banking model. Mexico: Continues to be the open banking hotspot for LATAM; FinTech Law requires Mexico to publish an open banking standard by March 2020. Singapore: Monetary Authority published an API framework for governance, implementation, use cases, and design principles. Australia: The four major banks2 in Australia must make banking data available to third-party providers by June 2019. Hong Kong: The Open API Framework includes a four-phase approach for banks to implement open API functions. Japan: Bank of Japan amended the Banking Act, calling for 80 Japanese banks to open their APIs by 2020. Open Banking Standards Africa: Central Bank of Nigeria places open banking on its Payments Vision Statement (PSV) 2030, efforts by Open Banking Ng is to partner with multiple players through a formal initiative; Fintechs pushing Open Banking in South Africa; Efforts underway in Rwanda based on PSD2 model. Israel: Open Banking regulations to be launched in 2021
  • 4. Our Solution Open Finance is a turnkey solution that provides Financial Institutions with the infrastructure for the transition to a more digital business, open banking and allow easy integration to third party providers. Simplify selection and integration of Fintechs and accelerate the adoption of multiple Open Banking business models. Overview Open Finance Collaboration with 3 party providers is key for a successful business model. Financial Institutions around the world are eager to learn how to transform digitally, simplify the selection and integration of Fintechs, and accelerate the adoption of multiple Open Banking business models. Open Banking Landscape Along with Open Banking (and now Open Finance), the API economy has opened the door to more advanced and dynamic collaborative styles. Through these API-enabled business models, banks are beginning to transform themselves from infrastructures that offer individual services to robust platforms that offer full digital capabilities.
  • 5. 5 Traditional Model One single connection facilitates the integration of several solutions Point to point connections where each solution requires new and separate integrations Open Finance Model How do we do it? We connect Open Finance offers a unique integration model through one single integration, accelerating time to market at a fraction of the cost. Integrations are securely done through FinConecta’s proprietary engine 4wrd
  • 6. Open Finance’s engine 4wrd delivers simple, fast, and efficient integration capabilities, to expand business models and create new revenue streams, at a fraction of the time and the cost. 4wrd main benefits ● Single integration, access to multiple solutions ● Launch applications up to 10 times faster ● Build an ecosystem and bring together multiple players ● Create new revenue streams ● Reduce costs 6 Platform Features
  • 7. 7 Engine’s modules 4wrd is FinConecta’s proprietary middleware and is built on the foundation of the most modern and reliable technological infrastructure of APIs and ESB, creating a modular, flexible and scalable structure capable of supporting open architecture models. Store Online catalogue featuring a premium array of solutions. API Gateway A platform that administers APIs and facilitates the integration of third party solutions. Sandbox provides a secure environment for testing before going into production. Data Lake. A centralized repository that allows the storage of all structured and unstructured data to enable different types of analytics.
  • 8. 8 Open Finance functional architecture End-Users Approved 3rd Party providers CoreSystems API’s Marketplace (Fintech Ecosystem) Developer Portal Open Finance Platform Integration Services Own B2B/B2C Marketplace
  • 9. 9 Improve Customer Experience & Expand Product Base Continuously improve innovation and services, by offering new products to customers Open APIs and Management Tool Normalization of API’s - PSD2 regulatory requirements and position as a leader and facilitator of Open APIs Time to Market Accelerate the digitization process and time to market (from months to weeks) Additional Revenue Expand opportunities by unlocking new business models Capex vs Opex Deploy solutions at a fraction of the cost of traditional integration projects. Pay a PaaS-type monthly subscription services The Value behind Open Finance Compliance & Security Platform is secure, simple and fast. Governance is compliant in a dynamic ecosystem. Infrastructure is scalable and modular
  • 10. z 10 Financial Marketplace Categories BUSINESS FINANCIAL MANAGEMENT • Financial Mngt Training • Payables Administration • Receivables Administration • Reconciliation Tools • Supply Chain Finance DATA SOLUTIONS • Data Analytics • Big Data • Data Aggregation COMPLIANCE, IDENTITY & ACCESS MANAGEMENT • Access Management • Application Fraud Detection • Customer Onboarding • Enterprise Fraud Management • Identity Management PROCESS DIGITISATION & LIFECYCLE MANAGEMENT • BPM - Retail • BPM - SME / Corporate • Document Capture • Cash Supply Chain Management • Collections • Virtual ATM PAYMENTS & PAYMENT PROCESSORS • Local Payments • Merchant Payments • Mobile Wallets • P2P Payments • Payment (Bill Aggregation) • Remittances DIGITAL BANKING • Agency Banking • Internet Banking • Mobile Banking PERSONAL FINANCIAL MANAGEMENT • Financial Education • Savings and Budgeting • Tax Filing Support Tools • Robo Advisor RISK MANAGEMENT: CREDIT SCORING & COLLECTION • Alternative Credit Scoring • Collection Services • Credit Analysis • Portfolio Management • Sensor and/or Image-based Scoring • Transactional Credit Scoring CUSTOMER ENGAGEMENT • Chatbot • CRM • Loyalty Programs • Messaging (Email, SMS, etc.) • Messaging (Video) CORE SYSTEMS Online catalogue featuring a premium array of vetted AWS Fintech digital solutions. CYBERSECURITY
  • 11. 11 Scale, elasticity & Real-time processing Open Banking / Finance success is linked with data and capacity to process large volumes of data in real-time. The number of transactions and data sources will significantly increase as Open Banking develops. Cloud will support banks to manage those volumes of data and provide real-time processing Role of the cloud in Open Finance Decrease Costs It is difficult to predict what would be the data volumes, usage patterns and how regulations will evolve during the next several years. Therefore, banks can avoid upfront infrastructure costs by using cloud technology Secure environment Security and Compliance are the highest priorities Microservices oriented architecture At a time when banks are seeking to boost their agility and shorten time-to-market for new services, open banking offers a unique opportunity to do things in new, modern ways. Banks can break away from their monolithic technology to microservices oriented architectures
  • 12. 12 PaaS / SaaS Fee Structure One time payment Monthly Monthly
  • 13. 13 Let’s connect! Betty DeVita Chief Business Officer FinConecta betty@finconecta.com Lior Goddes Enterprise Team Lead Amazon Web Services liorg@amazon.com (+972-52) 5819 696
  • 14. www.finconecta.com contact@finconecta.com © 2020 Amazon Web Services, Inc. or its affiliates. All rights reserved. © 2020 FinConecta. All rights reserved.