open apis are changing the next generation of financial services - startplatz 5.2.15
TRANSCRIPT
![Page 1: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/1.jpg)
1
Open APIs are changing the next generation of financial services Startplatz, Cologne, 05.02.15
![Page 2: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/2.jpg)
André M. Bajorat‣ Consultant, Business Angel, Co-Founder, Mentor,
Key-Note Speaker, Herausgeber
‣ Inhaltliche Schwerpunkte
• Banking, Payment, Mobile
‣ Berufliche Historie seit 1997
• Sparkassen Finanzgruppe 97-09
- SK Online
- M.d.Gl. Star Finanz / StarMoney
- GF giropay
• NumberFour AG 09-11
• seit 2011 amb consult
• seit 2012 GF und Co-Founder des Fin-Tech StartUps figo
• Beirat bei FinLeap und Cringle
• Initiator der Wahl zum FinTech des Jahres2
![Page 3: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/3.jpg)
Introduction
3
![Page 4: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/4.jpg)
There is a sustained change how we want to do bankingBanks are under pressure
‣ Never before so many solutions of non-banks have sprung up around banking services as in recent months
‣ What are the reasons?
4
![Page 5: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/5.jpg)
Behavior patterns and demands of users changed
5
![Page 6: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/6.jpg)
And the way we use servicesMobile has changed the world
6
![Page 7: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/7.jpg)
In the beginning of digitalization, banks were forerunner
But the benchmark for new financial
services do not put banks anymore
7
![Page 8: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/8.jpg)
All needed information in one screenTime-lines and feeds are standard
8
![Page 9: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/9.jpg)
One link is enough to get all information - think about your bank or credit card statements
Silly data finally obtains context
9
![Page 10: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/10.jpg)
Same data on every device
10
German savings banks are creating data silos for every device
![Page 11: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/11.jpg)
Banking in Germany is still a pull experiencePush is standard
11
![Page 12: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/12.jpg)
Ident-Broker
‣ It is standard to use a central ID in different services and to use the data across services
• PayPal
12
![Page 13: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/13.jpg)
And in addition…
13
![Page 14: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/14.jpg)
‣ Customers are using bank products from different banks
• „There is an app for that“: or an bank product for this case
‣ The relevant player for personal finance are growing • Banks + Wallets + FinTechs
Personal Finance is fragmented
14
![Page 15: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/15.jpg)
15
![Page 16: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/16.jpg)
Sum: Gap between Offer and Expectation
16
![Page 17: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/17.jpg)
And now… APIs
17
![Page 18: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/18.jpg)
APIs are one of the best answers for innovationsWhy do we need modern Bank-APIs?
‣ Human behavior has changed and is changing more and more
‣ Mobile and the app-economy has changed everything ‣ Banks are not the forerunner anymore ‣ Speed is crucial ‣ Right context is necessary ‣ And never the less: bank products are software
18
![Page 19: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/19.jpg)
Some words about figo…
19
![Page 20: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/20.jpg)
It is damn hard and complicated to build services based on existing infrastructure.
What are the problems?
‣ Banking/Financial interfaces are old and fragmented. ‣ No single point of entry to all financial data services.
Neither for developer nor for end users. ‣ High development costs to connect software with today
financial interfaces.
20
![Page 21: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/21.jpg)
Backbone of next generation financial servicesfigo’s mission
‣ Enabling developers to easily create universal financial services and products based on our agnostic technical concept.
‣ Providing insights based on personal financial data to the end user.
21
![Page 22: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/22.jpg)
22
User accesses data through a central
financial ID User- & Access Management
Metadata Enrichment Realtime sync & Notifications
Sync across devices & services Smart Data
Partner connectsfinancial IDvia figo’s REST-API
Hosted in a German Bank Data Center
Financial Data
Apps ToolsServices
Banks Creditcards Wallets Cryptocurrencies Broker
How it works
![Page 23: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/23.jpg)
Financial data brings contextPossible use cases for figo
23
Identification Payment Wealth Management / Investing
Productivity figo Banking
Insurance companies Risk management Accounting
![Page 24: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/24.jpg)
The figo API is already the backbone of well-known companiesSelection of use cases currently in use
24
Banking Apps Bank transfer for p2p payment
Scoring and Identity
Banks
figo
Open position management
Cross selling Scan and pay / Travel-Expenses
Online payments
![Page 25: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/25.jpg)
> 30 years FinTech ExperienceAnd by the way - this is figo
25
André M. Bajorat
Joachim Penk
Lars Markull
Sebastian Tiesler
CEO & Sales
‣ Exec. consultant in finance & payment
‣ VP Product Marketing, CEO at NumberFour
‣ Managing Director at giropay ‣ Management Board at Star
Finanz ‣ Advisory Board Member at
FinLeap / ExecIO / Cringle / Mobicom
‣ Mentor at Plug&Play, Microsoft Ventures, startupbootcamp
Technology
‣ Freelance Software Developer ‣ Entrepreneur fwd.io ‣ Co-Founder (CTO) Mikestar
Business Dev & DevCom
‣ Shortcut Ventures ‣ SumUp
Product & Sales
‣ Head of Mobile Solutions at Star Finanz
‣ Senior Account Manager at Star Finanz
‣ G&J Multimedia Ventures ‣ Project Lead eCommerce at
Ponton Software Technology ‣ Project Lead B2B at
Mindways Multimedia
Heiko Rahlfs
Finance & Operations
‣ Consultant for Organization, Processes & Finance
‣ Partner at Putz & Partner Unternehmensberatung AG
‣ Manager at Lischke Consulting GmbH
‣ Relationship Manager Corporate Finance at Dresdner Bank AG
‣ Diplom Kaufmann ‣ Banker (Bankkaufmann)
![Page 26: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/26.jpg)
Resume…
26
![Page 27: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/27.jpg)
and a fundamental change in the marketThere is a need for Banking APIs
‣ Fidor provides the new Bank-API ‣ EPC is fighting for „Access to
Bank Account“ ‣ For UK Government open Bank-
APIs are driver for the FinTech Success of London
‣ > 140 Partners on figos Bank-API
27
![Page 28: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/28.jpg)
Yes they could be…Are Banks the right provider for APIs?
‣ Open APIs will give banks new speed ‣ External partners will bring innovations to the customer ‣ Banks are the owner of the data and the gatekeeper ‣ APIs are a new business model for banks
‣ but don´t wait for them!
28
![Page 29: Open apis are changing the next Generation of Financial services - Startplatz 5.2.15](https://reader030.vdocuments.mx/reader030/viewer/2022032420/55a510e31a28ab432d8b45e4/html5/thumbnails/29.jpg)
29
André M. Bajorat CEO
You are interested in what we are doing? Contact us!
[email protected]+49 172 4574783