Open Banking is disrupting the future of financial services in Australia, and we believe that it will do much more than just enhance customer experience. It will pave the way for innovative, highly personalised products; new partnerships that generate mutual value; and new business lines that create additional revenue streams.

1. MONETISING OPEN BANKING

2. CONTEXT
Areas where technology,
open banking legislation,
interoperability and data
will drive innovation.
It is Complex
Beyond Governance, Security and Conformity
Fin-Tech Disruption and Collaboration
Tech Engineering the Next Phase of the Journey
Future Banking Propositions
Intelligent Empowerment and Open Life
Responsible Banks - Trust as an Advantage

3. Innovation
● New Fintech
● Unbundling
● Multi sector solutions
New Data Intelligence
● New data tech
● Tech connectivity brings
opens new data sources
New Legislation
● Compliance regulations
● Open Banking
● PSD2/GDPR
● ID/Privacy and Consent Models
New Experiences
● Future bank
● Marketplaces
● Ecosystems
THE PROBLEM IS COMPLEX
3
Silo
Operations
Lack of
Capability
Data Debt
Tech Debt Talent
Deficit
Internal
Politics
Lack of
Trust
Outdated
Methods
New Models
Customer
Solutions
Digitisation &
Platformisation
Customer
Engagement
New Tech SolutionsGlobal Platform Entrants
Lower MarginsRing Fencing
Human
Empowerment
& Personal Focus
Human
Demands
● Lowering barrier of entry into the market - threat to both Local finTechs and Local FSIs
● Trust deficit and falling business numbers

4. IT COULD COULD GET MORE CHALLENGING
Learn and Improve
4©ThoughtWorks 2018 Commercial in Confidence
13 Jan 2018Mar 2017 25 May 2018 20193 Jan 2018
Open Banking is Just a Starter for Intelligent Empowerment and Open Life Across All Sectors
Legislation is an enabler for the Evolution of financial institutions towards data driven platforms and networks
movement to empower people to take control of their data.
1 Jan 2018
Personal and Business
Current Account data
opened to 3rd parties
Allows 3rd parties to
request payment and balance
data from banks
Greater transparency
and protection on trading
and investment
Classification and
measurement requirements
for financial assets
Deep-dive research
and understanding
of OL
Greater data transparency,
security and protection
for individuals
PSD2 becomes national
law. Deadline for UK’s
largest banks to open
their data through APIs
Exploration of
OL + TW
GDPR legislation comes
into force
XS2A
(access to account)
New legislation
comes into force
Further Market disruption
IFRS 9 becomes
mandatory

5. OPEN BANKING - AUSTRALIAN ADVANTAGE
Interoperable Global MovementOPENBANKINGPAYMENTSREADINESS
OPEN BANKING PAYMENTS POTENTIAL Derived from Capgemini 2018
South Africa
IndiaChina
Mexico
Finland
Belgium
France
Germany
Australia
Spain
UK
Sweden
US*
Singapore
Pioneers
Followers
Late Adopters
Brazil
Australia

6. Any Financial Service Any Useful Service Any Personal Data Contributor Any Partner “White Space”
INNOVATE
USEFUL FINTECH
HERE
CREATE
MARKETPLACES
HERE
EXAMPLE OF FINTECH COLLABORATION WITH BANKS

7. THE PLATFORM
BANK 2019
LIFE SERVICE
PARTNER 2020+
MARKET PLACE
BANK 2019
BUILDING THE
DIGITAL BANK 2019
OPEN BANKING BEYOND COMPLIANCE
The Starting Point
● Replacing Legacy Tech and
Data for Customer Compliance
and Governance Experience
and Efficiencies
● Strategy, Plan and Prioritise
for Open Bank (Life)
Ecosystem Future
● Internal and External Positioning
● Engineering Tech and
Data for Governance and
the Future Marketplace
● Differentiate, Design
and Build on Open Bank (Life)
Platform
● Ecosystem Core Essentials
● Building Ecosystems
● Validate and Deliver
POC Open Life Ecosystem
● Ecosystem Roadmap
● Ecosystem Advantage
● Scale and Diversification

8. DATA DATA
MARKETPLACE TECH ENGINEERING
Aggregation
Analytics
Personalisation
Transparency
Security
Consent
Financial Services
Ecosystem
Customer Connected
Ecosystem
PLATFORM
Open Banking integrated services platform
MARKETPLACE DATA REALISATION
IT IS A PEOPLE, TECHNOLOGY & DATA OPPORTUNITY
3RD
PARTY
API
API
3RD
PARTY
3RD
PARTY

9. Online
Services
Mobile
Digital Services
Harness Intelligent
Empowerment & Open Life
Create the Marketplace
for Ecosystem Economics
MOST BANKS ARE STUCK HERE ALL COMPANIES NEED TO BE HERE
PEOPLE, TECHNOLOGY & DATA
A digital channel carries out
basic services, transactions
over in the Internet
A mobile channel carries out
main services, transactions
over a mobile device
Digital technology to every activity,
process and program. No physical
interactions needed by customers.
A unique and competitive value
proposition for customer moments that
disrupts traditional business models
New useful data flowing into tech, people
for smarter decisions and innovation.

10. Thoughtworks creates Customer Innovation with Smart People, Enabling Tech and Data Intelligence.
This is Intelligent Empowerment and Open Life.
TECH AND DATA INTEGRATION FOR INNOVATION
MY ENTIRE CONNECTED LIFE:
PERSONAL & NEW DATA SOURCES
OPEN LIFE & INTELLIGENT
EMPOWERMENT ECOSYSTEM
Customer Experience Orientation
Open
Data
New
Data
API’s
API’s
Combine
Existing Data
Data
Science
Machine
Intelligence
Artificial
Intelligence
Software, Tech and Data Engineering
Digital
Federated
ID & New
Services
Fairer
Services
Intents. Personal
Data Control
& Value
NEW
MARKETPLACES
ECOSYSTEMS
Data
Intelligence
INNOVATION
& DESIGN
IOT DEVICES
INTEGRATION
CONSENT, PERMISSION
& DATA CONTROLS
INNOVATION
DESIGN TECH PROCESS
CUSTOMER
INTELLIGENCE, TECH &
SOFTWARE COMPANIES
CREATE VALUE
- NEW SECTOR NEUTRAL
BUSINESS MODELS

11. EVOLUTIONARY TECHNOLOGY
PLATFORMS
CUSTOMER CENTERED
ORGANISATION
THE RESPONSIVE
ORGANISATION
INTELLIGENT
EMPOWERMENT
Digital Platforms
Cloud Native Architecture
Technology Capability Assessment
Delivery Infrastructure
API Development
& Management
Technology Operations Centres
Service Design Ecosystems
New Product Innovation
Product Evolution
MVP Delivery
Product Squads
Software Engineering Teams
Executive Advisory
Value Driven Portfolio Management
Organisational Design
Business Problem Framing
Portfolio Visualisation
Change Management
& Team Enablement
Data Strategy
Data Architecture
Business Optimisation
& Insights
Data Engineering
Machine Learning & Algorithm
Development
Data-driven Products
& Platforms
A VISION TO VALUE APPROACH
For High Performing Digital Organisations
FROM VISION
Advisory
TO VALUE
Tech Delivery

12. PLATFORM STRATEGY AND EXECUTION
CHANGE
MANAGEMENT
EXECUTE ON
OPPORTUNITIES
STRATEGY
FORMULATION
PLATFORM
ARCHITECTURE
TECH PLATFORM
BUILD
VALUE
PROPOSITION
USE
CASES
EXISTING
ASSETS
EXPERIMENT
PORTFOLIO
STRATEGY
DEVELOPMENT
CULTURE PROCESSCAPABILITY
LEAN CHANGE
ROADMAP
TRIGGERS
FOR CHANGE
Lean Change
Program
Define
Direction
Learn + Refine
Evolutionary
Solution Delivery
Discover
Opportunities
Change squads
implementing new
ways of working
Multiple squads
working on Delivery
Infrastructure & API
development
Discovery activities and intensive
stakeholder workshops

13. PARTNER INTEGRATION FOR INNOVATION
APIs and enabled integrations are a cheaper faster way to launch products and acquire customers

14. STRATEGIC PRIORITY EXECUTION GUIDANCE BANKING (CAPABILITIES / EXPERIENCES)
PRODUCT
DESIGN
COMPLIANCE
TECH-DATA
BUSINESS
Identify Value Pillars
Define Killer Features
Build Loyalty Loop with Use Cases
Design for Behavioral Economics
Design an Extreme User Experience
Recreate Your Brand
Identify Compliance Needs from “Consumers”
Adopt a Proactive Strategy
AI in Compliance
Build a Tech Data Capability Roadmap and Deliver Iteratively
Adopt a Strangulated Technology Approach
Create Governance Model within Innovation Team
Build Analytical Practices and Data Capabilities
Scale Continuous Innovation with Value-driven Portfolio
Management
Product Innovation
Strategic Alignment
Product management capabilities
Experience design capabilities
Design Thinking
Hypothesis-driven design
Banking Compliance Expertise
Intelligence Empowerment
Cyber Security Capabilities
Technology Partnerships
Technology Platforms
Inventor of Microservices and Evolutionary Architecture
Software and Data Experiset
Digital Platform Strategy
Open Banking Advisory and Open Life Vision
Data Analytics Capabilities
Innovation Portfolio Management Capabilities
Expertise on Digital Organization Transformation
HOW - RESPONSIBLE ORGANISATION
Ways of Working

15. Earning Trust, Respect
by doing the right by
the customer
Enabling tech engineering, data
intelligence collaborating for
smarter decisions and outcomes
Building a Responsive,
Responsible Org and culture
for positive impact
Innovation to deliver
sustained business growth
and customer value
Constructing the future market
for financial services and
sustainable business
FUTURE INTEGRATED LIFE SERVICES
TRANSFORMATION ENABLER & DRIVERS
REVOLUTIONARY TIPPING POINT
● IE, tech, data and Open Banking
● Personal data movement
● Rise of cloud, IoT, API access to services
● AI, ML, DLT and RPA
● Customer demands for personal and
experience
● People taking control of their data
- value of identity, trust and
privacy concerns
● New personal data models
● Human and machines
collaborating for better
interactions and outcomes
● Economic impacts
FAIRER FINANCIAL SERVICES
OPPORTUNITY
Trust - Reimagining the Future of Financial Services
CORE DIGITAL
PLATFORM

16. HELP ME TRANSACT
The company makes it easy
for me to pay for my lifestyle
or my significant ones
HELP ME SAVE
The company enables me to save
more without me having to lift a finger
HELP ME SPEND
The company helps me track
spending and keeps me on budget
KNOW ME. REWARD ME. GUIDE ME
The company understands me and
knows my goals and aspirations
HELP ME GROW
The company provides ways
for me to grow my money
and deliver loyalty moments
HELP ME BE FINANCIALLY FIT
The company helps me take control of
my finances and keep me financially fit
HELP ME GIVE
The company helps me
give back to the community
in a meaningful way
HELP ME
ACHIEVE LIFE GOALS
The company helps me
materialise the opportunities
in my life
New
Data
New
Data
Behavioral
Economics
Artificial
Intelligence Gam
ifications
Touchpoint Experiences
APIs
DATA INTEL
SUMMARY
Banks become
unbiased life partners.
Covering the needs in
and magic moments
for customers.