winning the battle and the war · pdf filehead of financial solutions, wso2 winning the battle...
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![Page 1: Winning the Battle and the War · PDF fileHead of Financial Solutions, WSO2 Winning the Battle and the War API Management for Compliance and Digital Transformation Seshika Fernando](https://reader033.vdocuments.us/reader033/viewer/2022051722/5aa1e3ce7f8b9a1f6d8c8475/html5/thumbnails/1.jpg)
Head of Financial Solutions, WSO2
Winning the Battle and the War API Management for Compliance and Digital Transformation
Seshika Fernando
![Page 2: Winning the Battle and the War · PDF fileHead of Financial Solutions, WSO2 Winning the Battle and the War API Management for Compliance and Digital Transformation Seshika Fernando](https://reader033.vdocuments.us/reader033/viewer/2022051722/5aa1e3ce7f8b9a1f6d8c8475/html5/thumbnails/2.jpg)
No One Really Wants To Do Banking
![Page 3: Winning the Battle and the War · PDF fileHead of Financial Solutions, WSO2 Winning the Battle and the War API Management for Compliance and Digital Transformation Seshika Fernando](https://reader033.vdocuments.us/reader033/viewer/2022051722/5aa1e3ce7f8b9a1f6d8c8475/html5/thumbnails/3.jpg)
3
Go on Vacation
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4
Buy that Dream Home
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5
Educate Children
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Banking is the Means to an End
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PSD2 Mandates Banks to - securely expose - customer financial data - with customer consent - to regulated third parties - via APIs
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Account Information Aggregation
Bank A
Bank B
Bank C
Now
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Payment Initiation
Bank A
Bank B
Bank C
Merchant
Now
TPP (PISP)
PSD2
Bank A
Bank B
Bank C
Merchant
![Page 12: Winning the Battle and the War · PDF fileHead of Financial Solutions, WSO2 Winning the Battle and the War API Management for Compliance and Digital Transformation Seshika Fernando](https://reader033.vdocuments.us/reader033/viewer/2022051722/5aa1e3ce7f8b9a1f6d8c8475/html5/thumbnails/12.jpg)
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• API Management
– APIs
– Third party onboarding
– Threat/misuse detection
– Analytics
Technology Requirements for Compliance
• Identity and Access Management
– Secure API invocation
– 2 Factor Authentication
– Adaptive Authentication
– Consent Management
![Page 19: Winning the Battle and the War · PDF fileHead of Financial Solutions, WSO2 Winning the Battle and the War API Management for Compliance and Digital Transformation Seshika Fernando](https://reader033.vdocuments.us/reader033/viewer/2022051722/5aa1e3ce7f8b9a1f6d8c8475/html5/thumbnails/19.jpg)
• Competitive dynamics
• Business model and identity
• Customer relationships
• Revenue
Banks are not happy Further Commoditized
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‘Consolidated Customer Financials’
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Digital Transformation - Market Expansion
Bank A
Bank B
Bank C
Merchant
Consolidated customer account and payment
info across multiple Banks
TPP TPP
![Page 22: Winning the Battle and the War · PDF fileHead of Financial Solutions, WSO2 Winning the Battle and the War API Management for Compliance and Digital Transformation Seshika Fernando](https://reader033.vdocuments.us/reader033/viewer/2022051722/5aa1e3ce7f8b9a1f6d8c8475/html5/thumbnails/22.jpg)
Digital Transformation - New Revenue Streams
Consolidated customer account and payment
info across multiple Banks
Bank A
Bank B
Bank C
Merchant
TPP
![Page 23: Winning the Battle and the War · PDF fileHead of Financial Solutions, WSO2 Winning the Battle and the War API Management for Compliance and Digital Transformation Seshika Fernando](https://reader033.vdocuments.us/reader033/viewer/2022051722/5aa1e3ce7f8b9a1f6d8c8475/html5/thumbnails/23.jpg)
Becoming a Part
of Customer Lifestyles
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• Vision: Regulation vs. Business Opportunity
• People: Concern for Compliance & IT vs. All
• Culture: Take nothing for granted, keep innovating
• Technology
Recipe for Digital Transformation Ingredients
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Technology
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WSO2 Open Banking
API Manager API Security + SCA API Analytics API Monetization
PSD2 Compliance
API Integration Fraud Detection API Analytics Dashboards
TPP Provider
Web/Mobile App Suite Insight Sales Required Integration
Digital Transformation
http://wso2.com/solutions/financial/open-banking/
![Page 27: Winning the Battle and the War · PDF fileHead of Financial Solutions, WSO2 Winning the Battle and the War API Management for Compliance and Digital Transformation Seshika Fernando](https://reader033.vdocuments.us/reader033/viewer/2022051722/5aa1e3ce7f8b9a1f6d8c8475/html5/thumbnails/27.jpg)
Seamless Journey to Customer’s End Goal
TPP
? ? ? ?