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 #payments lobby calls for 18-month delay to consumer authentication rules via @finextra #SCA #PSD2 https://t.co/0aVS4vALfX 22 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @cbpaymentsnews: The Grand Panel on #cash and #CBDC wraps up with a lively debate on the merits and drawbacks of issuing a central bank… 24 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @cbpaymentsnews: How are central banks approaching the "new normal" in cross-border #payments? A packed #CBPC2019 track session from @IN 25 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @cbpaymentsnews: Pleased to be in Berlin @ the Central Bank Payments Conference w/ 52 global central banks! Great opening panel with Vic… 25 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @bankofengland: We will support a more resilient, innovative and competitive payments system for UK households and businesses. Find out… 25 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @cbpaymentsnews: Why standards are important for central banks... @GLEIF Chairman Gerard Hartsink on the value of legal entity identifie… 25 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @cbpaymentsnews: Standards are the hot topic this morning at the #CBPC2019 in Berlin. James Whittle, Head of Standards Authority at @WeA 25 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @cbpaymentsnews: In today’s #CBPC2019 session on open banking, @WeArePayUK’s Matthew Hunt says we are living through a “once in a genera… 25 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit "The most striking thing we found during our attendance at the #europeanpaymentsummit was the fact that regulatory… https://t.co/FxCSh0XvLs 27 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @PaymentCounsel: Money 2020: World FinTech Report 2019 #OpenBanking has yet to reach maturity, according to #WFTR2019. The financial se… 27 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit PayU acquires Turkish startup @iyzico_com #digitalpayments #fintech https://t.co/GCBAUcaNvC 27 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit EU to Increase Access to High-Quality Data for #Blockchain, #AI Projects https://t.co/ROfiA7X6hR via @cointelegraph 27 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @KYC_Ltd: #ThrowbackThursday to our win as "Best RegTech Provider" in the #FlorinAwards at the @EuroPaySummit! On our blog, we take a cl… 27 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @PaymentCounsel: Whitepaper: One year after #PSD2 What has happened since PSD2 and #GDPR were introduced, and why financial services fi… 27 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit Always a pleasure to catch up with leading minds in #fintech during our #europeanpaymentsummit editions. @dgwbirch,… https://t.co/uIKHUrZJrT 28 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @PaymentCounsel: Consumers are wary of #bankingtechnology Rate of consumers adoption of latest #banking technology does not necessarily… 29 weeks ago
  • Also interesting
    Alignment of Real-Time Payments Across International Borders
    Written on 22 April '19 by
    READ MORE
    Meet the Florin Awards Europe 2019 Nominees
    Written on 17 April '19 by
    READ MORE
    David Birch, Consult Hyperion: "We need national strategies to manage the transition to cashlessness"
    Written on 16 April '19 by
    READ MORE
  • News