Iasa Spain Arquitecturatic - The Open Bank Project

Open Bank ProjectBank as a Platform, transparency as an asset

Ismail Chaib, COO

Open Bank Project

APIs are everywhere

Even in banks…

Today, Europe’s largest bank offer APIs

“We think that by 2016, 75%

of the top 50 global banks (by

assets) will have launched an

API platform and 25% will

have launched a customer-

facing app store” - Gartner

An API for every bank!

In the future, every bank will have an API

1995

Why do we need a

Web site?

2000 2010 2015

Of course we

have a Web site

Of course we

have an API

Why do we

need an API?

What’s in it for the bank?

Banks can leverage the OBP API to create better customer relationships

Source: faberNovel, 6 reasons why API are reshaping our business

An API allows an ecosystem to flourish around the bank!

The Open Bank Project

Banks can leverage the OBP API to create better customer relationships

Individuals & Businesses.

Developers have easy access to banking data and trusted

services

Customers enjoy a much greater choice of high quality and

secure services

Banks instantly provide new and more secure services to their

customers. Offering faster time-to-market and cost savings

Trusted 3rd Party

Developers

Retail / corporate

banks

✔

✔

✔

Open Bank API fosters a customer-centric open innovation ecosystem

An open source API and App Store for banks and a

community of developers using it

Developers and banks are engaged

• PoCs with tier 1 banks in the UK

• Partnership with TEMENOS, +700 bank customers

• Service partners in Singapore and USA

• Active developer community

• 120 Developers -18 apps using the Open Bank Project API

• +1000 registrations on mailing list

• 4 hackathons per year including with Lloyds TSB and Rabobank

Incubated at

How it works

OBP API

Bank’s Legacy IT System

Bank’sCustomers

Provided by

their bankOBP App Store

3

2

1

(On different

platforms)

Use innovative

financial appsCard-linked offers

Cash management

AccountingERP KYCCRM

Crowdfunding

jQuery

SavingsGamificationData

Visualisation

Advisory PFMAML

Anti fraudRegulation

bank’s data

center / cloud

Deploy on your premise and leverage an app ecosystem

App Example #1: Momentum

Financial KPIs and cash flow forecasts based on transaction data

App Example #2 :MoneyGarden

Personal Finance Management and budgeting app

App Example #3: KashFlow

Bank reconciliation for accounting software

App Example #4: Kinder App

Personal Finance Management solution for kids

Bank-level Security

Same level of security as any other bank application

Technical Architecture

Features:• Account information and

transaction history

• Fund transfer

• Data sharing

• Data enrichment

Specificities:• RESTful API / JSON

• OAuth for authentication

• Full test coverage

• Continous deployment

• Developed with Scala

• Run on JVM

Cultural Architecture

A hackathon is an intensive marathon of brainstorming and

programming

80 participants

12

hacks

4 /

year

Key Learnings

• Make it work, make it right, make it fast!

• Be pragmatic

• Open source by default

• IT doesn’t matter until it does matter

• Community is key - Culture attracts community

Ismail Chaib, [email protected]

+49 157 387 104 31

www.openbankproject.com

Thank You

http://www.iasaglobal.org/iasa/Spain_Chapter.asp