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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 .

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

  1. 1. Agile and Adaptable Technology Platforms Easing the Insanity of the Post PSD2 World Seshika Fernando Head of Financial Solutions
  2. 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. 3. Transactions per year 5 Trillion 1 Billion 2005 2010 2012 2017
  4. 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. 5. What should keep you up at night
  6. 6. What’s actually keeping you up at night
  7. 7. 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?
  8. 8. 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]
  9. 9. 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?
  10. 10. 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]
  11. 11. ● 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
  12. 12. What does it look like? Check it out at https://openbanking.wso2.com/
  13. 13. Beyond Compliance – Market Expansion Bank A Bank B Bank C Merchant Consolidated customer account and payment info across multiple Banks TPPTPP
  14. 14. Beyond Compliance - New Revenue Streams Consolidated customer account and payment info across multiple Banks Bank A Bank B Bank C Merchant TPP
  15. 15. Becoming a Part of Customer Lifestyles
  16. 16. Open Technology for Agile Digital Business
  17. 17. 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
  18. 18. 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
  19. 19. THANK YOU wso2.com

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