Open API Banking: Financial Lego in Payment Solutions

blocks

 

The common strategy for banks can almost be captured by paraphrasing Kennedy: “Ask not of your client to go to the bank, but make the bank go to the client”. Survival requires putting the customer at the heart of the bank’s service proposition, which requires a fundamental shift in the way banks are organized.

Experts say that to be `where the client is’ requires integration of banking services into third party channels, and the bank to publish, document and deliver open APIs to their systems.

This may be true, but it is also rather abstract. In this talk we will explore some practical examples of using these API’s, both in the physical and n the digital domain. What do these APIs offer, and how does that benefit both consumers and business alike?

1. Small-ticket lease for the SMB. Opening up leasing to the big public requires a drastic simplification of this inherently complex product. But, creating effective APIs on simplified leasing product opens up interesting new financing options for the SMB.

2. Offering foreign exchange services. At this moment it requires a lot of effort for SMB’s to get a FX-contract with a bank, can this be simplified? And can SMB’s be offered FX-options right when they need them?

3. Offering a PSP which includes Retail Finance options such as invoicing and payments by installments. The success of parties such as Klarna proves that such an offering is very compelling to consumers.

4. PSD2 – Another often-made point is the need for banking APIs to comply with PSD2. However, any third party connecting to these APIs will have to worry about correctly authenticating consumers and dealing with authorizations

Gijs and Joris from Ximedes will share case studies and insights on the above at EPS day 2 – don’t miss it!

Gijs ter Horst is Ximedes’ CMO, responsible for all sales in the  company . Gijs  own focus is  on the Fintech customers. Gijs started his career as a software developer and fulfilled roles of software architect and technical project manager, working on payment systems as well as websites for large ISP’s at various companies before  h e switched to a commercial role. Gijs studie d  physics at the University of Groningen.

Joris Portegies Zwart is CTO of Ximedes, a software technology provider with a strong footprint in the payments industry. As CTO, he is responsible for overall delivery of software development and operational services to clients.

  • @EuroPaySummit

    European Pymt Summit European Pymt Summit @EuroPaySummit And it's a wrap!!! Thank you everyone who came!!! https://t.co/cDsOMHiThj 1 month ago
    European Pymt Summit European Pymt Summit @EuroPaySummit Closing keynote on #australia payment landscape by @victoriajane #eps2k17 https://t.co/znX32adaUB 1 month ago
    European Pymt Summit European Pymt Summit @EuroPaySummit Deep diving on @Alipay & innovations from china with @chinafintech @DavidKChuenLEE https://t.co/l55WXQMF5Y 1 month ago
    European Pymt Summit European Pymt Summit @EuroPaySummit @iDeal_Status demo on #iDin solution at #eps2k17 https://t.co/vm4udvcrH1 1 month ago
    European Pymt Summit European Pymt Summit @EuroPaySummit @vikasmunshi on architecture against #fraud #eps2k17 https://t.co/24nmHBo4qZ 1 month ago
    European Pymt Summit European Pymt Summit @EuroPaySummit Super cool! @XimedesSoftware https://t.co/EUDxgvhCJp 1 month ago
    European Pymt Summit European Pymt Summit @EuroPaySummit We r in the news! https://t.co/wYEnJ0gl0V 1 month ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @Finextra: PSD2 dominates discussion on day one of European Payments Summit https://t.co/kyuUPPkHM3 #fintech 1 month ago
    European Pymt Summit European Pymt Summit @EuroPaySummit Now onto #identity discussion in Europe with @douwelycklama @ServidaAndrea gerardhartsink @GLEIF https://t.co/4W3gVzO410 1 month ago
    European Pymt Summit European Pymt Summit @EuroPaySummit @jgrantindc #Identity is too big for anyone to solve - shd be a coalition of the willing - government telco corporations #eps2k17 1 month ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @alina_marginean: kick off second day #eps2k17 @endava Identity as the great enabler https://t.co/oeyCVzzceC 1 month ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @hdilorenzo84: Jeremy Grant @EuroPaySummit: "Authentication is getting easier, but identity proofing is getting harder!" #eps2k17 1 month ago
  • Also interesting
    Keynote on Identity & Security Brief at EPS
    Written on 21 November '17 by
    READ MORE
    EPS-Fintech Security Fair & Awards
    Written on 6 November '17 by
    READ MORE
    20% Early Bird Discount
    Written on 6 November '17 by
    READ MORE
  • News