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DECODINGTHEAPIERA
FORINDIANBANKS
A PRESENTATION BY
AISHWARYA JAISHANKAR
• Banker turned Fintech Entrepreneur
• Launched India’s first digital savings account
• Oversaw a complete bottoms up reva...
• Availability of banking
services to the whole gamut
of population was driven by
the GoI
• BSBD
• Relaxed KYC
• BC Model
...
• The data revolution
• Indian customers enjoyed the cheapest data plans in the period 2010-2020
• This led to a boom in s...
page 5
UnderstandingtheBankingsystems
Core Banking Layer
(Transaction processing)
• TransactionAuthorisation
• Ledger mana...
• Need for real time interactions
• Need for real time service resolutions
• Need for real time loans and investments
page...
page 7
WhatnewAgebankdigitalteamsaredoing?
Building digital
maturity
• BeyondAccount
opening APIs
• Robust mobile
applicat...
Powered by Modern Technology-Componentized architecture
Core Banking Saas APIs Loan Organisation Saas APIs KYC Saas APIs
C...
Monetise
• With Robust APIs, banks are re evaluating Fintech / Neobanking partnerships
• API banking and monetisation of c...
• Segmented and super segmented offerings
• Teen ager neo banks to NRI Neobanks
• Curated products and service
• Financial...
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apidays LIVE India - Banking Redefined - Decoding the API era for Indian banks by Aishwarya Jaishankar, Hyperface Technologies

apidays LIVE India 2021 - Connecting 1.3 billion digital innovators
May 20, 2021

Banking Redefined - Decoding the API era for Indian banks
Aishwarya Jaishankar, Co-founder of Hyperface Technologies

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apidays LIVE India - Banking Redefined - Decoding the API era for Indian banks by Aishwarya Jaishankar, Hyperface Technologies

  1. 1. DECODINGTHEAPIERA FORINDIANBANKS A PRESENTATION BY AISHWARYA JAISHANKAR
  2. 2. • Banker turned Fintech Entrepreneur • Launched India’s first digital savings account • Oversaw a complete bottoms up revamp of retail banking capabilities for an MNC bank in India • Happy to have had a bird’s eye view of digital banking revamp in India • Currently • Consulting Fintech’s and Neobanks • Cofounder of a Banking as a service company page 2 Aboutme
  3. 3. • Availability of banking services to the whole gamut of population was driven by the GoI • BSBD • Relaxed KYC • BC Model • CKYC • The Aadhaar revolution • KYC norms aligned with Aadhar • OTP Based account opening • Payments and settlement act 2007 • National financial switch 2003 • RTGS and NEFT – 2004 • Setting up of NPCI – 2008 • Launch of UPI - 2016 APIBankinginIndia-Thefoundingstones page 3 Financial Inclusion Identification revolution Digital payments
  4. 4. • The data revolution • Indian customers enjoyed the cheapest data plans in the period 2010-2020 • This led to a boom in smart phones and mobile applications • The entry of Ecommerce • Home grown players competed with Amazons entering • There was a boom to pay digitally and seamlessly • Growth of non banking payment offerings • Wallet players (who evolved into payment banks) • Conceptually customers evolved from thinking of bank as the payment sourcing destination to third party applications • A thought process furthered by UPI, which processes over 90% of its transactions through non banking applications . page 4 Otherparadigmshifts
  5. 5. page 5 UnderstandingtheBankingsystems Core Banking Layer (Transaction processing) • TransactionAuthorisation • Ledger management • Sub systems (card host, FRM) Customer identification management • Universal ID • KYC management (Re-KYC, e-KYC ) • Profile management Customer servicing and operations • Customer facing channels • Service delivery • Marketing and cross sell Monolithic systems Crippled by legacy Difficult to implement changes at pace
  6. 6. • Need for real time interactions • Need for real time service resolutions • Need for real time loans and investments page 6 Whatcustomerevolutionmeant Enter 360 degree APIs Origination Request fulfilment Cross sell journeys Backend processing Evolution of electronic channels to Customer Interfaces = APIs
  7. 7. page 7 WhatnewAgebankdigitalteamsaredoing? Building digital maturity • BeyondAccount opening APIs • Robust mobile application offering 100+ functionalities • Servicing vs new cross sell journeys vs features Strengthening core systems • Core system upgrades and API building operators came into force • Investment in core systems with ability for end to end API interfacing came about Propelling real time interactions • Enter Artificial Intelligence & Big Data • Chatbots • Customer CRMs and MarTech tools
  8. 8. Powered by Modern Technology-Componentized architecture Core Banking Saas APIs Loan Organisation Saas APIs KYC Saas APIs CRM / FRM Interface portal/Partner Apps 3rd party digital Marketplace Bank applications WhatFutureofBankinterfaceslooklike From monoliths to modularity… Allowing for a plethora of undbundling – Regtech, LendingTech…
  9. 9. Monetise • With Robust APIs, banks are re evaluating Fintech / Neobanking partnerships • API banking and monetisation of core platforms are the new reality • Cost savings using APIs on the operational and processing side. Innovate • Sahamati Account Aggregator platform – India’s open banking platform • Allows bank to pull customer’s financial data with consent to cross and upsell intelligently Collaborate • Embedded banking offerings are the new reality • Banks are going beyond own real estate to contextual real estate (Ex – travel loans atTravel portal, FDs inWealth tech applications) page 9 What’snextforAPIBanking?
  10. 10. • Segmented and super segmented offerings • Teen ager neo banks to NRI Neobanks • Curated products and service • Financial super Apps • Any brand can sell banking products • Relevant and customised product offerings • Open Banking • Banking data goes out of banks territory to be shared by customers • Better bargaining power page 10 Whatthismeanstocustomers

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  • MarcianaFernandez

    Jun. 6, 2021

apidays LIVE India 2021 - Connecting 1.3 billion digital innovators May 20, 2021 Banking Redefined - Decoding the API era for Indian banks Aishwarya Jaishankar, Co-founder of Hyperface Technologies

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