Banks in the era of APIs economy

API?

def api():
    return

    {
        "acronym" : “Application Programming Interface”,
        "definition.minimal" : “a standard interface to support communication from one                        device program to another.”,
        "definition.advance" : “an digital interface for authorized parties to establish direct              computer-to-computer integration and manage it.”,
        “definition.expert”: “a digitally delivered business asset, service, or transaction.”
    }

An APIsed economy

“By 2016, 75% of the top 50 global banks will have launched an API platform and 25% will have launched a customer-facing app store”

An APIsed economy

• If "Software is eating the world"

          APIs are driving and accelerating its development

• More than 14 000 Public APIs

Examples

From $14 to $228 billion in 2 years thanks to APIs

60% of revenues from API

>10000 partners, $4 billion revenues

80% revenues via affiliate network APIs

Main business benefits

• Leverage innovation with outside partners
• Make more with less
• Faster time to first "Hello world!" (prototyping)
• Faster time-to-market
• Federate a community of developers and partners
• Increase diversity of services
• Lead to better customer experience
• Lead to more customers acquisition

Internal as important as External

70% internal calls

99% internal calls

99.9% internal calls

Making use of others APIs as important
as opening your APIs to others

API success get measured

But what to measure?

who & why is your API for?

KPI on revenus

API now accounts
for 20-25%
of the charity’s
annual revenue

KPI on usage

Key success factor?

An ecosystem perspective

• Actively engage with developers & partners
• Create a strong and active community
• Turn developers & partners into ambassadors
• Evaluate your API strategy with the right metrics

Key success factor?

Developer experience (DX)
They can make or break your API

Great SDK (Software Develpment Kit) is key

Keep a consistant usage policy

Key success factor?

A developer perspective

• Interactive user documentation
• One-step registration to create an account and begin trialing an API
• A sandbox environment (Anonymised data)
• Tutorials
• Developer support forum

Key success factors

A technical perspective

• Reactive: processing 1000 requests/s
• Reliable: auto-recovery
• lazy: compute only when needed

An open source API and App Store for banks and a developer community around.

1

Banking API based on open standards

2

Banking
App Store

3

Developer
Community

A white label API for banks and complementary services

>100 apps available in the app store
4000 Fintechs use Open Bank API

Engagement model

Thanks for your attention !

Sébastien Treguer
st@openbankproject.com