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Open apis are changing the next Generation of Financial services - Startplatz 5.2.15
1. 1
Open APIs are changing the next
generation of financial services
Startplatz, Cologne, 05.02.15
2. André M. Bajorat
‣ Consultant, Business Angel, Co-Founder, Mentor,
Key-Note Speaker, Herausgeber
‣ Inhaltliche Schwerpunkte
• Banking, Payment, Mobile
‣ Berufliche Historie seit 1997
• Sparkassen Finanzgruppe 97-09
- SK Online
- M.d.Gl. Star Finanz / StarMoney
- GF giropay
• NumberFour AG 09-11
• seit 2011 amb consult
• seit 2012 GF und Co-Founder des Fin-Tech StartUps figo
• Beirat bei FinLeap und Cringle
• Initiator der Wahl zum FinTech des Jahres
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4. There is a sustained change how we want to do banking
Banks are under pressure
‣ Never before so many
solutions of non-banks
have sprung up around
banking services as in
recent months
‣ What are the reasons?
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14. ‣ Customers are using bank products from different
banks
• „There is an app for that“: or an bank product for this case
‣ The relevant player for personal finance are growing
• Banks + Wallets + FinTechs
Personal Finance is fragmented
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18. APIs are one of the best answers for innovations
Why do we need modern Bank-APIs?
‣ Human behavior has changed and is changing more and
more
‣ Mobile and the app-economy has changed everything
‣ Banks are not the forerunner anymore
‣ Speed is crucial
‣ Right context is necessary
‣ And never the less: bank products are software
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20. It is damn hard and complicated to build services
based on existing infrastructure.
What are the problems?
‣ Banking/Financial interfaces are old and fragmented.
‣ No single point of entry to all financial data services.
Neither for developer nor for end users.
‣ High development costs to connect software with today
financial interfaces.
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21. Backbone of next generation financial services
figo’s mission
‣ Enabling developers to easily create universal financial
services and products based on our agnostic technical
concept.
‣ Providing insights based on personal financial data to
the end user.
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22. 22
User accesses data
through a central
financial ID
User- & Access Management
Metadata Enrichment
Realtime sync & Notifications
Sync across devices & services
Smart Data
Partner connects
financial ID
via figo’s REST-API
Hosted in a German
Bank Data Center
Financial Data
Apps ToolsServices
Banks Creditcards Wallets Cryptocurrencies Broker
How it works
23. Financial data brings context
Possible use cases for figo
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Identification Payment
Wealth Management /
Investing
Productivity figo Banking
Insurance companies Risk management Accounting
24. The figo API is already the backbone of well-known companies
Selection of use cases currently in use
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Banking Apps Bank transfer for p2p
payment
Scoring and Identity
Banks
figo
Open position
management
Cross selling Scan and pay /
Travel-Expenses
Online payments
25. > 30 years FinTech Experience
And by the way - this is figo
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André M.
Bajorat
Joachim
Penk
Lars
Markull
Sebastian
Tiesler
CEO & Sales
‣ Exec. consultant in finance &
payment
‣ VP Product Marketing, CEO
at NumberFour
‣ Managing Director at giropay
‣ Management Board at Star
Finanz
‣ Advisory Board Member at
FinLeap / ExecIO / Cringle /
Mobicom
‣ Mentor at Plug&Play, Microsoft
Ventures, startupbootcamp
Technology
‣ Freelance Software Developer
‣ Entrepreneur fwd.io
‣ Co-Founder (CTO) Mikestar
Business Dev
& DevCom
‣ Shortcut Ventures
‣ SumUp
Product & Sales
‣ Head of Mobile Solutions
at Star Finanz
‣ Senior Account Manager
at Star Finanz
‣ G&J Multimedia Ventures
‣ Project Lead eCommerce at
Ponton Software Technology
‣ Project Lead B2B at
Mindways Multimedia
Heiko
Rahlfs
Finance &
Operations
‣ Consultant for Organization,
Processes & Finance
‣ Partner at Putz & Partner
Unternehmensberatung AG
‣ Manager at Lischke
Consulting GmbH
‣ Relationship Manager
Corporate Finance at
Dresdner Bank AG
‣ Diplom Kaufmann
‣ Banker (Bankkaufmann)
27. and a fundamental change in the market
There is a need for Banking APIs
‣ Fidor provides the new Bank-API
‣ EPC is fighting for „Access to
Bank Account“
‣ For UK Government open Bank-
APIs are driver for the FinTech
Success of London
‣ > 140 Partners on figos Bank-API
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28. Yes they could be…
Are Banks the right provider for APIs?
‣ Open APIs will give banks new speed
‣ External partners will bring innovations to the customer
‣ Banks are the owner of the data and the gatekeeper
‣ APIs are a new business model for banks
‣ but don´t wait for them!
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