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Open APIs are changing the next
generation of financial services
Startplatz, Cologne, 05.02.15
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
2
Introduction
3
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?
4
Behavior patterns and
demands of users changed
5
And the way we use services
Mobile has changed the world
6
In the beginning of
digitalization,
banks were
forerunner
But the benchmark
for new financial
services do not put
banks anymore
7
All needed information in one screen
Time-lines and feeds are standard
8
One link is enough to get all information - think about your
bank or credit card statements
Silly data finally obtains context
9
Same data on every device
10
German savings banks are creating data silos for every device
Banking in Germany is still a pull experience
Push is standard
11
Ident-Broker
‣ It is standard to use a central ID in different services and
to use the data across services
• Twitter
• Facebook
• PayPal
12
And in addition…
13
‣ 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
14
15
Sum: Gap between Offer and Expectation
16
And now… APIs
17
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
18
Some words about figo…
19
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.
20
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.
21
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
Financial data brings context
Possible use cases for figo
23
Identification Payment
Wealth Management /
Investing
Productivity figo Banking
Insurance companies Risk management Accounting
The figo API is already the backbone of well-known companies
Selection of use cases currently in use
24
Banking Apps Bank transfer for p2p
payment
Scoring and Identity
Banks
figo
Open position
management
Cross selling Scan and pay / 

Travel-Expenses
Online payments
> 30 years FinTech Experience
And by the way - this is figo
25
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)
Resume…
26
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
27
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!
28
29
André M. Bajorat
CEO
You are interested in what we are doing?
Contact us!
amb@figo.me
+49 172 4574783

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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 2
  • 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? 4
  • 5. Behavior patterns and demands of users changed 5
  • 6. And the way we use services Mobile has changed the world 6
  • 7. In the beginning of digitalization, banks were forerunner But the benchmark for new financial services do not put banks anymore 7
  • 8. All needed information in one screen Time-lines and feeds are standard 8
  • 9. One link is enough to get all information - think about your bank or credit card statements Silly data finally obtains context 9
  • 10. Same data on every device 10 German savings banks are creating data silos for every device
  • 11. Banking in Germany is still a pull experience Push is standard 11
  • 12. Ident-Broker ‣ It is standard to use a central ID in different services and to use the data across services • Twitter • Facebook • PayPal 12
  • 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 14
  • 15. 15
  • 16. Sum: Gap between Offer and Expectation 16
  • 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 18
  • 19. Some words about figo… 19
  • 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. 20
  • 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. 21
  • 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 23 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 24 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 25 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 27
  • 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! 28
  • 29. 29 André M. Bajorat CEO You are interested in what we are doing? Contact us! amb@figo.me +49 172 4574783