Event page: https://meetups.mulesoft.com/events/details/mulesoft-edmonton-presents-mulesoft-catalyst-and-accelerator-for-banking/

1. Edmonton MuleSoft Meetup Group
MuleSoft Catalyst - Accelerator for Banking
January 2021
Speakers:
Sunil Jaganathan - Integration Developer, Incepta Solutions
Andrew Lie - Marketing Manager, Incepta Solutions
Facilitator:
Jimmy Attia - Senior Strategic Advisor, MuleSoft

2. Safe harbor statement
The information in this presentation is confidential and proprietary to MuleSoft and may not be disclosed without the
permission of MuleSoft. This presentation is not subject to your license agreement or any other service or
subscription agreement with MuleSoft. MuleSoft has no obligation to pursue any course of business outlined in this
document or any related presentation, or to develop or release any functionality mentioned therein. This document,
or any related presentation and MuleSoft's strategy and possible future developments, products and or platforms
directions and functionality are all subject to change and may be changed by MuleSoft at any time for any reason
without notice. The information on this document is not a commitment, promise or legal obligation to deliver any
material, code or functionality. This document is provided without a warranty of any kind, either express or implied,
including but not limited to, the implied warranties of merchantability, fitness for a particular purpose, or
non-infringement. This document is for informational purposes and may not be incorporated into a contract.
MuleSoft assumes no responsibility for errors or omissions in this document, except if such damages were caused by
MuleSoft intentionally or grossly negligent.
All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ
materially from expectations. Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of their dates, and they should not be relied upon in making purchasing decisions.
3

3. Agenda
1. Andrew
a. Brief introduction
b. Meeting Logistics
2. Sunil
a. Journey towards Digital Transformation
b. Digital Transformation in Banking
c. API-Led Connectivity
d. MuleSoft Catalyst
e. Catalyst Accelerator for Banking
f. Accelerator for Banking - APIs and Policies
g. Case Study: Open Banking Strategy Implementation
3. Q&A
4. Wrap up and Announcement of Trivia Winners
4

4. Meeting Logistics
● The session is recorded and a copy will be sent to the registrants following the event
● Attendees are placed on mute upon entry
● Feel free to post your questions in the chat and we will answer them at the end
● We will have 3 trivia questions between segments and the winners will be announced at the end
● Instructions will be provided before the trivia questions for valid participation
● Prize: each winner will get a voucher for a free MuleSoft course
5

5. Journey towards Digital
Transformation

6. Digital Transformation
● Every organization is undergoing massive change
● Future proof strategies to build businesses that are more responsive,
more resilient and more efficient over time
● Businesses need to be responsive in quickly processing and
integrating data across multiple components to deliver time critical
projects.
● IT leaders faced challenges in building resilient business operating
models that adapts to constant change
● Apparently, going digital can be the solution to address the need of
the hour
7

7. Challenges with Digital Transformation
● Use of legacy applications and infrastructure
● Difficulties in adapting to the massively complex integration
solutions and newer regulatory requirements
● Data within the organization is highly fragmented and siloed into
different systems
● Traditional integration approaches cannot keep up with the
demands of evolving business requirements
● Limited time and effort dedicated for innovations and
enhancements of business processes
8

8. Digital Transformation in Banking
● Disruptions in financial services industry
○ Digital-first customers, increased competition, regulatory
and security risks
● Transformation initiatives across 5 buckets
○ Core modernization
○ Single customer view
○ Digital-first experience
○ Digitized and connected processes
○ Open Banking 9

9. Continued
Digital Transformation in Banking
● Core modernization
○ Decomposing core systems into more agile, reusable
services
● Single customer view
○ Personalized product offers
● Digital-first experience
○ Banking via mobile application or an online web portal
10

10. Continued
Digital Transformation in Banking
● Digitized and connected processes
○ Connecting the mobile app with back office. Process
loans, approve transactions, and much more digitally
● Open Banking
○ Revenue opportunities by creating an ecosystem using
open banking initiatives and banking-as-a-service
11

11. API-Led Connectivity

12. API-Led Connectivity
● API first approach in Digital Transformation
● Connected experiences and powered by data accessed in
real-time
● Complete control over the data with API centric integration,
where APIs can be secured, managed, monitored and reported
● Connected experiences between reusable, modular, building
blocks of software enables the organization to be more resilient
for future change with greater project delivery speeds
● API discoverability and Reusability: Increases organizational agility
and innovation capabilities 15

13. API-Led Connectivity for Digital Banking
● APIs access a goldmine of data in legacy and on-premise systems
● APIs can also consume services provided by the newer,
cloud-based systems
● Merely adopting APIs cannot deliver a digital banking platform
● Speed of integration is a key factor in digital transformation
● The need of a new operating model - decompose core systems
into smaller, reusable building blocks; bundle and package the
building blocks into a digital platform
16

14. Three-tiered Architecture
● System APIs
○ Abstract data and functionalities from core systems
○ Ensure provided data aligns with the enterprise models
● Process APIs
○ Draw data from system APIs to perform processes
○ Simplify and automate workflow to create a composite app
● Experience APIs
○ Deliver output to the appropriate channel to engage the right
stakeholder 17

15. MuleSoft Catalyst

16. MuleSoft Catalyst
● A unique IT operating model and a
set of packaged offerings
● A step-by-step approach to guide
implementation
● Mulesoft’s 3-pillar approach to
success
○ Define business outcomes
○ Organizational enablement
○ Technology delivery
19

17. Key Components
● Catalyst Knowledge Hub
○ Online portal for partners to access proven best practices,
playbooks and blueprints
● Catalyst Mobilize
○ A guided approach from industry experts on how to launch,
scale and optimize Anypoint Platform
● Catalyst Accelerators
○ Pre-built API designs and much more for the most common
use cases across banking, retail and healthcare
20

18. Catalyst Knowledge Hub
Catalyst Knowledge Hub for partners: https://catalyst.mulesoft.com
21

19. Catalyst Mobilize
● Tailored expert guidance to align technical initiatives to business
objectives
● Strategic consultation to assess challenges and opportunities for
business improvement through integration
● Turn assessment into a roadmap
○ Discovery
○ Analysis
○ Solution
○ Insights
22

20. Catalyst Launch
● Discovery sessions to assess integration capabilities, align
business outcomes, and build an initial success plan
● Establish a foundational platform architecture and solutions
designs
● Setup and configure Anypoint Platform
● Assistance with implementation and delivery of initial use cases
● Establish a Centre for Enablement (C4E)
● Operationalize a training and support model
23

21. Catalyst Scale
● Review business outcomes and KPIs
● Refine platform and project implementations
○ Enhance common services, build CI/CD frameworks and tune
performance
● Deliver additional use cases, build additional C4E assets, drive
additional consumption and reuse
● Refresh C4E operating model, success plans, business outcomes
and associated KPIs
○ Update support runbooks and provide training
recommendations 24

22. Catalyst Optimize
● Review your business outcomes, Anypoint Platform, Project KPIs,
C4E, and Support and Training KPIs
● Conduct design and code reviews of APIs, integrations, and
implementations
● Conduct integration capability assessment and skills assessments
● Evaluate training and certification progress
● Review support cases and trends
● Provide recommendations to optimize and increase maturity level
across Anypoint Platform, projects, C4E, training and support
25

23. Catalyst Accelerators
● A set of pre-built API designs and
implementations, integration templates,
examples, and more, for the most common use
cases across the banking, retail and healthcare
industries
● Accelerates the progress towards digital
transformation
26

24. Accelerator For Banking

25. Proposed Architecture
28

26. Key Components
● Support for core business processes
○ Account information, payments initiation and legacy
modernization
● Architecture best practice
○ Proposed architecture – drawn from working with industry
leaders
○ Promotes asset self-service and reuse
● Pre-built API designs and implementations
○ Unlock core business data via secure APIs
29

27. Accelerator For Banking
API Specifications, Templates and Policies

28. System APIs
● Customer System API
○ A RAML definition and an implementation template to consume customer
data from CRM systems like Salesforce using the Salesforce connector
● Open Bank System API
○ A RAML definition and an implementation template to get account and
balance information using database and AS400 connector respectively
● Notification System API
○ An implementation template to send email or SMS notifications using the
email connector and Twillio connector
31

29. Process APIs
● Authorization Server API
○ Illustrates authorization and authentication design using RAML
and Anypoint Platform
● Account Process API
○ A RAML definition and an implementation template to aggregate
use accounts and transactions in the account
● Payment Process API
○ Includes an implementation template to post payments to a
chequing account
32

30. Experience APIs
● Anypoint Bank Experience API
○ A RAML definition and implementation template to perform
CRUD operations on a user account, login and signup, etc.
● Payment Initiation Service Provider API
○ Includes a RAML definition and implementation template to get
consent, authenticate and authorize an user
● Account Information Service Provider API
○ Includes a RAML definition and implementation template to get
balance, account and transaction information
33

31. API Policy
OAuth 2.0 JWE Access Token Enforcement
● OAuth 2.0 JWE Access Token Enforcement
○ Enforces use of signed and encrypted JWT access tokens within an
authorization header to access the API
● Resource Specific Client ID Enforcement
○ Enforces use of client_id and client_secret as Basic authorization for
specific resources on the API configurable with regular expression
● Two-Factor Authentication
○ Combines OAuth2, OpenID Connect, and JWT tokens signed with
private/public keys, to illustrate two-factor authentication
34

32. Case Study: Open Banking
Strategy Implementation

33. Open Banking Platform
● Goal: Modernizing customer engagement
○ Renovate
○ Evolve
○ Transcend
● Approach: Building a digital banking platform with APIs and
turning it into a Open Banking-as-a-Service platform
● Outcome: Leveraged the digital platform to abstract data and
functionality away from back-end systems and package into
services to be used across product lines or channel consistently
38

34. Traditional Organization
● A complex ecosystem
● Manually intensive, repetitive and a
disconnected experience
● Realized commonality across
processes and data
● Invest in development of digital
platform to renovate, evolve and
transcend the limitations of
disjointed experiences
39

35. Renovate
Decompose core systems into APIs
● Digitize traditional financial services to drive operational efficiencies
● Improve transaction experiences related to specific products
● To do so, the team envisioned a three-tiered, API-led architecture
○ System APIs provide governed access to their respective downstream
systems
○ Decoupled services orchestrate data and functionalities from system
APIs abstracting away complexity from business tech consumers
○ An experience gateway encapsulates business logic and, manage and
govern the consumers across different products
40

36. Renovate
Three-tiered, API-Led Architecture
41

37. Evolve
Connected, Unified Digital Experience
● A change to the operating model: From product centric mindset
to unified, capability centric mindset
● Visibility and access to data and processes across organization
● Drive both horizontal and vertical integration
● Additional benefit
○ Automation
○ Lower operation costs
○ Unify experiences across channels
○ Speed to market 42

38. 43

39. Transcend
Turning Digital Banking to Open Banking
● Banks must transform their business model to better meet the
needs of modern customers
● Open Banking-as-a-Service platform
○ Support entire lifecycle
○ Add value to customer experiences through speed,
convenience and adaptability
○ Services from all partners and applications are seamlessly
integrated
○ Improve market standards across channels
44

40. Open Banking-as-a-Service Implemented
Current State
45

41. A MuleSoft approach
Building Open Banking Platform
● Based on MuleSoft’s experience helping organizations like the one
discussed above, they recommend a four-step strategy for effectively
building an open banking platform
46

42. KEY TAKEAWAYS

43. Key Takeaways
● A digital banking platform can produce both IT results as well as
business results
● Using Anypoint Exchange, the marketplace of pre-built APIs and
Integrations can speed up the transformation
● Banking functionality, when broken into discrete building blocks, can
create new innovation and governance opportunities
● With MuleSoft Catalyst, implement organizational and operational
best practices, get guidance from Industry experts on enabling the
organization, assessing the infrastructure and optimizing accordingly
50

44. ABOUT INCEPTA

45. ● Proud partner of MuleSoft for years; first few partners in Canada during early stage
● Trusted IT partner for digital innovation, with a global presence
● Growth 2020 List: named one of Canada’s fastest-growing companies
● Our mission:
To provide business solutions to not only solve challenges, but to accelerate growth and customer success
● Our areas of expertise:
Digital Transformation, Integration, Data Management, Customer 360, Cloud Strategy, & Cybersecurity
● Our solution:
Cutting-edge integration and automation solutions with the latest technology
that empowers businesses with digital innovation

46. Stay connected on social
Incepta Solutions
@InceptaS
Incepta Solutions
@InceptaSolutions

47. EVENT SURVEY
Link in the chat

48. Q&A

49. WRAP UP
&
ANNOUNCEMENT OF TRIVIA WINNERS

50. Thank you