This is a session given by Chris Wood at Nordic APIs 2016 Platform Summit on October 26th, in Stockholm Sweden. Description: The personal data network, often referred to as the “API of Me” is a concept that has been around for a few years and aims to empower consumers by putting them in control of their data. One of the key data sources to help realise the benefit of the personal data network is bank account data which to date has been notoriously difficult to access without web scraping. However, initiatives such as PSD2 may motivate banks to deliver open APIs that will help unlock consumer. This talk takes a look at how open banking will spur the development of the API of Me and what benefit this might deliver for consumers.

1. Will Open Banking trigger
the API of Me?
Chris Wood
@sensiblewood

2. What is the “API of Me”?
The access point for your Personal Data Store
Me2B
== Establishing the relationship between you and the
businesses you engage with on your terms
== Secure, tailored & curated experience vs.
traditional loudhailer approach

3. A Personal Data Store
•The place
where you
aggregate &
take control of
your data &
offer it to satisfy
your needs
•Centralized or
federated
Monetary
Social
Health
Intentions
Repeats
Location &
Transport
Habitual
Document
Management

5. Example - Meeco
• Series of curated
views - ‘tiles’
• Makes your data
relevant to you
(and your family,
pets, etc.)
• Helps you
understand your
data based on
your wants &
needs

6. Example - Mydex
• Allows consumers
to securely share
their data
• Series of foci
dependent on
what your interest
• Note the focus on
consumer
control

7. Example - Trunomi
• Approach is
federation vs
centralisation
• Manage data in
situ
• Work on behalf
of business to
benefit of the
consumer

8. Can a PDS access all our data (via APIs?)
In some areas YES
e.g. Social
In others NO
e.g. Banking

9. So might Open Banking be important?
Open Banking + PDS = Source of meaningful data
Rich personal data source: monetary, habits,
intentions, etc.
Potential for easy data acquisition with a
framework for security
== Backbone for secure access

10. Prospects for Open Banking & the API of Me?
Open Banking unlikely to happen organically as a “pure” initiative
Regulation may provide the motivation
Vendors will sell the dream - CTOs looking for a dream catcher
PSD2: Possibility of technical fragmentation
Local initiatives and schemes: CMA (UK), FinTS (Germany), etc

11. The API of Me without Open Banking?
Usual suspects:
• Screen scraping
• Manual updates (CSV, etc.)
• Aggregators – potential to become de facto standard
== Might be more pain but not unachievable

12. Round Up
The API of Me will happen without Open Banking
Open Banking “done right” will definitely accelerate
Regulation may affect how Open Banking
implemented
Growth of the API of Me likely to be slower without
it