How banks can capitalize and thrive on Open Banking & API
Open API is one of the seven initiatives of the New Era of Smart Banking announced by the Hong Kong Monetary Authority in 2017, to improve financial services through collaboration among
banks, fintechs, and ecosystem partners or third party service providers.
APIs represent more than technical conduits for sharing data, they are sources of strategic value in today’s digital economy. Well-designed APIs enable rapid innovation and open up markets
for new goods and services.
Using API management to simplify a financial services ecosystem
Using IBM Bluemix platform and IBM API Connect software Moneytree created an API-based ecosystem serving multiple verticals, offering customers one-stop access to specialized financial services providers.
Creating an API economy to compete with larger banks
The bank created a solution based on IBM API Connect software and an IBM DataPower Gateway appliance. It relies on microservices, which will help the bank expand its use of application programming interfaces (APIs) in
the future to include solutions for retail customers. This adds to existing retail apps that the bank built using the IBM MobileFirst platform.
Building an API ecosystem to enhance service and expand market reach
The bank leverages IBM API Connect software to create a framework for its own business ecosystem and drive its digital strategy, securely and transparently connecting customers with merchants via YES BANK APIs.
ABN AMRO partners with IBM to address rising demand
ABN AMRO invests in cloud technology, analytics, cognitive computing, and mobile technologies, and infuses more flexibility, agility, and speed into the organization to stand against the constant
influx of industry newcomers.
Handelsbanken Bank accelerates insight into big data to mitigate risk and support regulatory compliance
Handelsbanken Bank anticipated risk reporting changes that would create some big data challenges. IBM helped to create a series of solutions that improved performance by 25x through the analysis of
increasing volumes of commercial and investment data from almost every system in the bank.
Tangerine uses IBM technologies to enhance their mobile experience
Tangerine enhances their mobile experience, increases speed of development, and improves the customer experience, amid the rapid growth of mobile banking.
“Evolution of the API economy” examines the forces driving API usage, as well as the potential business models and monetization strategies APIs can help create.
“Innovation in the API economy” explores the API experience, the use of APIs as a new, dynamic form of product offering and underlying API capabilities.
Likhit Wagle is a Partner and the Global Banking and Financial Markets Leader for IBM Global Business Services. He helps C level executives in many of the FTSE-100 and Fortune 500 companies deliver value to their customers and
shareholders. Likhit is a thought leader in the banking industry with over 15 years of experience in strategic consulting with notable knowledge in corporate finance, value based management and mergers and acquisitions. Likhit has
extensive experience in leading complex transformational engagements, including the development and implementation of value creation strategies, new business models, performance management, organisational change, and decision
support systems. Likhit’s previous roles in IBM’s Global Business Services include, Banking Industry Leader in North East Europe, leader in Europe for Value Creation and leader in Strategy and Change practice. Before joining IBM,
Likhit led the M&A practice at PWC.
Mr. Saket Sinha is a Global Director for banking transformation solutions at IBM and responsible for providing thought leadership, critical insights, client advisory support services to both banking and financial market clients.
Mr. Sinha has over 20 years of banking industry experience in helping clients develop business and technology strategies while embarking on transformational agendas. Mr. Sinha has helped financial institutions improve their
financial performances, business-IT alignment and organizational effectiveness in delivering shareholder value. Mr. Sinha specializes in helping banks transform to next generation banking solutions involving analytic, legacy
modernization, channel digitization and revamped architecture. Mr. Sinha is currently working with many top tier global banks advising them on their transformation, innovation, customer experience management, enterprise synergies,
global operating model development and related operational and technology execution for superior results.
Krishnan is an innovative business and IT leader with proven track record in driving large scale transformation at some of the top global banks. His is known for leveraging new and innovating technologies in aligning Enterprise IT
strategy with business's strategic intent. Krishnan's career spans several industry verticals, but his depth is in the banking industry in the areas of Front office Transformation (Mobile & Multi-Channel Integration) and the
complex Core Banking Transformation. His global clientele stretch across Africa, Asia, Europe, North America and Growth Market countries. In his role as CTO for IBM’s Banking and Financial Markets Global CoC, he collaborates with
the broader IBM business units on the industry’s technical strategy. As a chief architect he has led a number of large and complex Enterprise level systems integration work including a very large Mobile Payments program delivering
basic financial services on a mobile platform to the un-banked population in developing markets.
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