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apidays LIVE Singapore - The Future of Financial Services is Invisible by Bharat Bhushan, IBM

apidays LIVE Singapore 2021 - Digitisation, Connected Services and Embedded Finance
April 21 & 22, 2021

The Future of Financial Services is Invisible
Bharat Bhushan, Distinguished Engineer & CTO Financial Services at IBM

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apidays LIVE Singapore - The Future of Financial Services is Invisible by Bharat Bhushan, IBM

  1. 1. The Future of Banking is Invisible 1 Bharat Bhushan IBM Distinguished Engineer CTO, Banking and Financial Markets (EMEA) | @_bharat_ The Future of Banking
  2. 2. 2 Disruptive forces are shaping the banking and financial markets industry Disruption from the FinTechs Expanded risks for security and fraud 2 Shareholder demands for improved returns Changing customer behavior and expectations Heightened regulatory compliance burden Digital disruption from Tech giants
  3. 3. Banking Platform Business Models The business case for Industry Platforms is clear: to be successful in the “disruptive” marketplace, banks will need strategies & business models that provide differentiation and drive client value Open Payments (Payment Initiation) Open Banking (Account Aggregation) Bank as Producer Bank as Distributor Bank as a Marketplace Description Third Party Partners (Fintechs and others) use directly exposed Payments APIs Bank provides APIs for Clients and Partners (for Bank’s Business Units, it’s possible as well) for a broad number of services Bank’s products and services sold by 3rd parties (resellers) Bank sells their own products and resell those of other Third Parties (fintechs and others) Bank connects offer and demand, integrating (as an option) their own products as well as non banking 3rd parties Illustrative Business Capabilities • Partner onboarding • Operational Risk assessment and monitoring • Partner onboarding • Client API onboarding • Billing API consumption • 360 Degree view of client • Third Party’s client onboarding • KYC • Bank product offering • Product fulfilment • Operational Risk assessment and monitoring • Credit Risk (for loans) • Client onboarding • KYC • 3rd Party Partner onboarding • Third Party product onboarding & mgmt. • Operational Risk assessment and monitoring • Fees billing • Producer onboarding • Client onboarding • Partner onboarding • Client (ask) & Producer (bid) matching • Sales management • Delivery Management • Fees billing • Segmented marketplaces Examples Bank Functions Third Party Functions Bank Products APIs Partners, Clients Payments and Account info APIs Partners Clients Bank Products APIs 3rd Party Distribution Channels 3rd Party APIs Clients 3rd Party Products Bank Channels 3rd Party APIs Clients Bank Products APIs 3rd Party Products APIs Marketplace 3rd Party APIs Clients Producers Bank Products • Producers • Clients • Partners
  4. 4. Blockchain-based microfinancing 5 220 small food vendors receiving microloans across Kenya Financing system based on blockchain Logistics platform for kiosks and food stalls in Africa Twiga foods working in partnership with IBM Research
  5. 5. 6 From disconnected and fragmented value chains… Ecosystem Partner Company Farmer • Access to larger market • Leverage technology to scale rapidly • Farmer insights • Preferred Service Provider • Enhanced Market Share and service capability • Bundling of products • First mover advantage • Digital loyalty management via wallets • Better farm yield • Informed decisions • Single reliable source for product/services Farm Equipment Advisory Services Live Mandi Seeds/ Fertilizers Financing Farmer Logistics …To a connected and synergetic ecosystem Farm Equipment Advisory Services Live Mandi Seeds/ Fertilizers Financing Farmer Agriculture Platform Logistics Backed by digital wallet Baroda Kisan: A Vision for Farmer Ecosystem
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  8. 8. Functional Reference Architecture (Phase 4) 13 Identity, Access and SCA Engine HSM Developer Portal KPI Dashboard Notification Gateways Mobile App SDK Fraud Engine Case Mgmt SIM Swap Check Dispute Management Contact Centre & Branches Open Banking Directories eIDAS Registries Payment / Consent Mobile Networks Payment Schemes ESB/ Orchestration Layer Security Gateway CRM Regulators Call back Services Outside of the bank Within the bank Third Party Providers Reverse Proxy, CDN, Network & DoS Protection Data MicroServices Experience MicroServices Firewalls and Network Load Balancers SaaS Offerings Data Cache Partners eBanking Partners Core Applications and System of Record ZoS Connect
  9. 9. Incubation Area Production Area Data-Centric Components DevOps Operations & Monitoring Customers Data Sources Data Engineers Data Scientists 14
  10. 10. Replace this with the latest version with whiteboard 15
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  12. 12. Full Cloud Native Course On OpenShift
  13. 13. Code Patterns PoC Recipes ü Underlying Code ü Architecture Diagrams ü Process Flows ü Code Repository ü Video/Blog/Tutorial 200+ Complete solutions to problems that developers face every day
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  15. 15. 20 Download here Download here Download here Download here
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