Agile and Adaptable Technology Platforms - Easing the Insanity of the Post PSD2 World

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Session presented by Seshika Fernando, the head of financial solutions at WSO2 at the 5th Annual European Payments Forum. Agile and Adaptable Technology Platforms - Easing the Insanity of the Post PSD2 World”. This session covers A PSD2 Sequel - Our predictions for the next 5 years. How to manage compliance expectations with business priorities - How to make PSD2 work for YOU. The technology success mix for the next 5 years. Building a Technology Driven Strategic Advantage .

Technology

About Us
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per year
5 Trillion
1 Billion
2005 2010 2012 2017

About You
Credits to ProSymbols, Bence Bezeredy, Avnihan Kirisik, Artem Kovyasin and Bezier Master of the noun project
27 Countries
50 Banks 35 Fin Tech Providers
6 Deadline Passed
12 Extended Deadline
11 Regulatory/Govt

Banks
● Do I need to comply?
● What do I need to have in order to comply?
● Can my IAM step up to the challenge?
● How do expose APIs from my legacy systems?
● Will this be a sunk cost? Or can I get a RoI?

Banks
● Do I need to comply? [Article 2 of PSD2 Regulation]
● What do I need to have in order to comply?
[APIM, API Security, TPP Onboarding, IAM]
● Can my IAM step up to the challenge? [MFA, Consent Management]
● How do expose APIs from my legacy systems?
[Integration points, Connectors]
● Will this be a sunk cost? Or can I get a RoI? [Stay tuned]

TPPs
● How do I integrate Banks with multiple different API specifications?
● How do I do Transaction Risk Analysis
● How do I connect my TRA to my IAM to provide SCA exemptions?
● How do I standout among the rest?

TPPs
● How do I integrate Banks with multiple different API specifications?
[API Integration]
● How do I do Transaction Risk Analysis [Real Time Analytics]
● How do I connect my TRA to my IAM to provide SCA exemptions?
[Adaptive Authentication]
● How do I stand out among the rest? [Stay tuned]

● Full PSD2 compliance including adherence to RTS for SCA and SC
● Provide standardised API Specifications for Payment and Account information
● Out of the Box API Security (OAuth2)
● Strong Customer Authentication (SCA)
● Adaptive Authentication based on rules defined
● User Consent Management
● Integration with core-banking systems & external services
● API Analytics & Business Insights with Dashboards
● API Monetization to create various revenue models
Getting compliant using WSO2 Open Banking

What does it look like?
Check it out at
https://openbanking.wso2.com/

Beyond Compliance – Market Expansion
Bank A
Bank B
Bank C
Merchant
Consolidated customer
account and payment
info across
multiple Banks
TPPTPP

Beyond Compliance - New Revenue Streams
Consolidated customer
account and payment
info across
multiple Banks
Bank A
Bank B
Bank C
Merchant
TPP

Open Technology for Agile Digital Business

WSO2 Open Banking
API Management
API Security + SCA
Consent Management
TPP Onboarding
API Analytics
PSD2 Compliance
API Integration
Fraud Detection
Transaction Risk Analysis
API Analytics
Dashboards
TPP Provider
Web/Mobile App Suite
Business Insights
Insight Sales
Required Integration
Digital Transformation

Why WSO2
● World class technology, preconfigured for full compliance and business expansion
● Proven track record of working with financial institutions of all sizes
● Standards-based API-M/Integration interoperates with COTS or bespoke tech
● Minimum impact/changes to existing internal systems and B2B integrations
● Ability to implement through Bank’s preferred local partners
● Structured training programs for IT staff, and focused workshops/hackathons
● Ability to seamlessly cater to evolving regulations and business priorities

Technology mandated by regulatory bodies, is serious business. That is what API Management is to PSD2. And that is why PSD2 and Open Banking should extend beyond 2018 and become part of your long term strategy for success. This session will cover From the horse’s mouth: What bank’s are telling us about their race to comply Thinking beyond 2018: Building an open banking strategy for long term success Concept to Reality: Realising the Digital Transformation opportunities of Open Banking

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PSD2, the Payment Services Directive mandate of the European Union (EU) enables business and consumer banking customers to use third-party providers to manage financial transactions. Furthermore, the regulation requires banks to provide these third-parties access to their customers accounts through open APIs PSD2, in fact, changes the very nature of banking when any of the participants — bank, customer, merchant, or third party — resides in Europe. The regulation also establishes different types of third parties, opening up new opportunities for enterprising service providers. The APIs that PSD2 delineates provide the mechanism that enables PSD2 to work — and for any company serving in any of the roles that PSD2 defines, managing those APIs is essential to the seamless operation of the services and the mitigation of inherent security and performance risks. On this webinar, digital transformation expert Jason Bloomberg, President of industry analyst firm Intellyx, will discuss the complexities of the API-enabled ecosystem that PSD2 creates and the many essential roles that API management must serve to ensure successful, secure financial transactions. Next, Fiorano Software CEO and CTO Atul Saini will explain the actual PSD2 functionality and will show how APIs (and to a lesser extent messaging) are used to implement PSD2. He will also show how Fiorano API Management provides the security, metering, monitoring, and management that all PSD2 participants require.

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PSD2 is centered around exposing sensitive customer data. This means the security measures you take to expose this data cannot have any loopholes. Just like your API management strategy, your security strategy is critical to implementing successful compliance. WSO2 Open Banking comes with inbuilt capabilities to support Strong Customer Authentication (SCA) and access management. Built around the key requirements of the Regulatory Technical Standards (RTS) it provides the end to end security requirements for compliance, while ensuring that customer experience is not compromised. This webinar will cover The key requirements of the RTS for PSD2 Compliance - Strong Customer Authentication (SCA), federated authentication, consent management and more The capabilities of WSO2 Open Banking to meet these security requirements How to ensure a secure yet frictionless customer experience A demonstration of WSO2 Open Banking

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O BACEN requer que os bancos brasileiros cumpram seus primeiros prazos de Open Banking até o final deste ano. Surgem naturalmente então questões sobre como você pode criar uma vantagem competitiva com sua estratégia de Open Banking. As respostas para isso são encontradas em como a tecnologia e as operações podem ser configuradas para promover mais colaboração com as fintechs e fornecer com eficiência novos produtos escaláveis centrados no consumidor. Isso exige que os líderes de projeto olhem para além de somente conformidade e abordem o sistema bancário aberto como uma oportunidade para acelerar a transformação digital. O WSO2 Open Banking oferece uma solução única para publicar APIs compatíveis com os padrões técnicos regulamentares e possibilitar extensos casos de uso de negócios de Open Banking centrados no consumidor. Assista a uma demonstração completa de nossa solução que é implantada globalmente neste webinar para saber como o conjunto poderoso de tecnologia WSO2 pode otimizar e acelerar sua jornada de Open Banking. Durante o webinar, abordaremos: Uma introdução ao sistema open banking e seus casos de uso Uma demonstração da solução WSO2 Open Banking e como ela é mapeada para a experiência do usuário de bancos, fintechs e consumidores finais O fluxo de usuário através da integração de fornecedores terceirizados (fintech) (ou registro do cliente), autenticação forte do cliente, gerenciamento de consentimento e portal do desenvolvedor. Escalabilidade e extensibilidade da solução WSO2 Open Banking Arquiteturas de referência e lições aprendidas com implantações de open banking globais no Reino Unido, UE e Austrália Quem deve comparecer: Arquitetos de soluções e empresariais. Líderes de projetos Open Banking CxOs envolvidos com estratégia de Open Banking Qualquer pessoa interessada em entender como uma implantação de Open Banking é mapeada para a experiência do usuário e possíveis casos de uso de negócios On-demand webinar: https://wso2.com/library/webinars/uma-demo-da-solucao-wso2-open-banking/

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1. Agile and Adaptable Technology Platforms Easing the Insanity of the Post PSD2 World Seshika Fernando Head of Financial Solutions

2. About Us Get regulated financial services Get better healthcare Get new and convenient shopping experiences Get to places faster Get efficient public services Get cost saving benefits Get more customized consumer services Get more productive

3. Transactions per year 5 Trillion 1 Billion 2005 2010 2012 2017

4. About You Credits to ProSymbols, Bence Bezeredy, Avnihan Kirisik, Artem Kovyasin and Bezier Master of the noun project 27 Countries 50 Banks 35 Fin Tech Providers 6 Deadline Passed 12 Extended Deadline 11 Regulatory/Govt

5. What should keep you up at night

8. What’s actually keeping you up at night

9. Banks ● Do I need to comply? ● What do I need to have in order to comply? ● Can my IAM step up to the challenge? ● How do expose APIs from my legacy systems? ● Will this be a sunk cost? Or can I get a RoI?

10. Banks ● Do I need to comply? [Article 2 of PSD2 Regulation] ● What do I need to have in order to comply? [APIM, API Security, TPP Onboarding, IAM] ● Can my IAM step up to the challenge? [MFA, Consent Management] ● How do expose APIs from my legacy systems? [Integration points, Connectors] ● Will this be a sunk cost? Or can I get a RoI? [Stay tuned]

11. TPPs ● How do I integrate Banks with multiple different API specifications? ● How do I do Transaction Risk Analysis ● How do I connect my TRA to my IAM to provide SCA exemptions? ● How do I standout among the rest?

12. TPPs ● How do I integrate Banks with multiple different API specifications? [API Integration] ● How do I do Transaction Risk Analysis [Real Time Analytics] ● How do I connect my TRA to my IAM to provide SCA exemptions? [Adaptive Authentication] ● How do I stand out among the rest? [Stay tuned]

13. ● Full PSD2 compliance including adherence to RTS for SCA and SC ● Provide standardised API Specifications for Payment and Account information ● Out of the Box API Security (OAuth2) ● Strong Customer Authentication (SCA) ● Adaptive Authentication based on rules defined ● User Consent Management ● Integration with core-banking systems & external services ● API Analytics & Business Insights with Dashboards ● API Monetization to create various revenue models Getting compliant using WSO2 Open Banking

14. What does it look like? Check it out at https://openbanking.wso2.com/

15. Beyond Compliance – Market Expansion Bank A Bank B Bank C Merchant Consolidated customer account and payment info across multiple Banks TPPTPP

16. Beyond Compliance - New Revenue Streams Consolidated customer account and payment info across multiple Banks Bank A Bank B Bank C Merchant TPP

17. Becoming a Part of Customer Lifestyles

18. Open Technology for Agile Digital Business

19. WSO2 Open Banking API Management API Security + SCA Consent Management TPP Onboarding API Analytics PSD2 Compliance API Integration Fraud Detection Transaction Risk Analysis API Analytics Dashboards TPP Provider Web/Mobile App Suite Business Insights Insight Sales Required Integration Digital Transformation

20. Why WSO2 ● World class technology, preconfigured for full compliance and business expansion ● Proven track record of working with financial institutions of all sizes ● Standards-based API-M/Integration interoperates with COTS or bespoke tech ● Minimum impact/changes to existing internal systems and B2B integrations ● Ability to implement through Bank’s preferred local partners ● Structured training programs for IT staff, and focused workshops/hackathons ● Ability to seamlessly cater to evolving regulations and business priorities

21. THANK YOU wso2.com

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