How Can I Sign New York Banking Presentation

How can i industry sign banking new york presentation later

we'll have a uh we'll host uh another speaker who will talk about the personalized the the personalized banking experience with the banking experience canvas it will be dasana vicious from uh wso2 who does a solution architecture there hello desana how are you hey midi how are you i'm good thank you i'm doing well doing well so if you have slides glad to have you sharing them on the third button below our two pictures okay sure ensure your screen and if you go full screen for a presentation that's perfect you have 25 minutes uh on stage uh enjoy the cena okay thank you so um hi everyone good afternoon so i hope you guys are having a good time and enjoying the the important discussions ideas and accelerated by these ideas so i'm going to um i'm keep i'm going to keep that excitement live by introducing a new way of banking which we call as banking experience canvas so um yeah so a little bit of me so i am dasana and i'm a solution architect at wso2 so i have been in industry around 17 years and i'm working on open apis api strategy and open banking compliance in australia new zealand singapore asia and recently with mexico and brazil so let's start the discussion looking at what does banking really mean what are the interaction that we perform with banks um if you look at what banks do or what kind of interaction that we do with banks banks basically manage value uh banks are our trusted partners uh they have built their trust uh you know historically and they are they manage value on behalf of us so we have you know multiple sources of uh value and they can be periodic value um sources like you know income from salary or it can be um you know one-time value sources and these value can be coming from you know cross-border payments like uh across geographical and and financial boundaries when it comes to value the value can be in different forms well it can be money value can be you know precious metals it can be government bonds it can be rewards so what banks does is banks accumulate this value behalf of you and manage and track and what you do is like when you have your value repository you may spend part of that value in your day-to-day spending you will grow your value by investing value on you know different um investment mechanisms and you might um you know save part of their value for your future needs as insurance so banks provide different channels for moving value they provide cards they provide you know bank transfer they provide checks they provide you know different kind of channels the most important thing that banks provide is the insight insight around the different transactions happening around your value values too the way that that you interact with each of these channels those are the insights that banks provide so this is the basically uh the the interaction that we perform against banks and what banks provide and if you look at um your needs right so so i i let's say i do have a need to build my own house right do re do banks really provide the full coverage of your need not really right so we bring banks to the picture when when we need funding then we need some investment options uh not to fulfill the entire need so the bank would be part of uh you know one step or one or two steps of your multiple steps in achieving your need right but of course banks can do more because uh banks in a are you know competing in a very competitive market so in order to thrive and in order to acquire new customers or keep your customers bank has to look at this need not really look at one or one or two steps of that need so if you look at um an example we are let's say you want to buy a house you want to own your own home there are multiple steps so you will be looking at um you know multiple funding options what are the options you have probably a home loan or use equity and then you will look at your investment options and then you look at you know you will look for properties you will check the property catalogs you will speak to different property agents and then you look at the value of these properties and how you value evaluate perform valuation against these properties and then you will look at your legal aspect what are the legal challenges that you have in these properties what are the legal boundaries so there are multiple steps and some of these steps like you know funding option and investments are provided by traditional banks so that is that the the standard banking space but there are other steps in achieving your needs so for other steps you will be going for other institutions third parties right so this is a fragmented experience in achieving your need so what banks can do is banks can expand from their traditional boundary into other steps of your need through a partner ecosystem so banks can build its partner ecosystem it can be outside of the banking domain by you know attracting partners you can the bank can provide um in the services and capabilities which allow um to allow customers to meet the need so let's look at how we can build that ecosystem around the bank so the the the proven uh way of building that ecosystem is through open apis and open banking so open banking standardized the interaction between different parties in banking ecosystem using open pay apis so it reduces friction and it it increases efficiency in collaboration and you know create aggregation capabilities and at the end it provides freedom for the customer to choose so by you know liberating these capabilities like in open apis api capability within open banking ecosystems bank can bring this partners together and pro provide additional capability on top of standard banking capabilities so now let's look at how consumers engage with banks if you look at current trends of current world right so we we really visit uh bank branches and we see that you know banks which operate without branches full digital banks on the rise so people engage with banking or do banking on their digital devices especially if you look at millennials the younger generations if you look at us 30 percent of the population are mean aliens and if you look at the world it's two-fifths of the population uh millennials young people so they are on the device they are always connected and and they're on social media right so people want that social media experience and they do banking on the uh on the device and you don't need to be uh having do you need to have a smartphone and if you look at a solution like m-pesa in kenya right in kenya the m-pesa is a payment mechanism and people use not so smartphones in remote parts of the kenya to um you know do payments so so people are on own devices and they they have different you know ways of interacting with uh banking you know people get paid people want their paychecks two days earlier so they want their money on their time they look at split payments so these are the different products that are on the market and especially younger generations want support in saving and people want to make different moves um on with their money and invest in different kinds of investment options and and and if you look at this experience uh banks provide more intuitive focus uh tools as well like you know saving calculators uh mortgage calculators personal finance management tools and things like that so so people are on digital channels people engage you know people have personal engagement on these these kind of you know tools so with banking experience canvas what we are trying to do here is like we want to bring that the ability to handle the need in its entirety and provide a digital experience in making that need or building that need so banking experience canvas is a digital canvas and we provide different building blocks in building your need that's what banking experience canvas is so there are set of um key concepts that you need to understand to digest what banking experience canvas means so on banking experience canvas you only have a single value store so values 2 is a representation of your bank account um so you don't have multiple accounts like you know saving accounts checking accounts every day because nothing like that you only have single value store we are used to value and what you can do is you partition your value store into multiple jars or pots or buckets and how you fill those jars is up to you you can design you can come up with your own idea of how to fill those pots it can be dynamic it can be static and once you have these spots you build an experience around these pots or buckets it can be a saving experience it can be an investment experience it depends on you how you want to build your experience and these experiences will you know react to external events maybe notification maybe you know events coming from intelligent analytics ai and that experience provide a unique behavior on top of these the experience that you you're building so these are the key concept behind the banking experience canvas this is a kind of illustration how you could see the banking experience canvas in real world um so this is a desktop uh or a web or you can see it on on tap so what you have is a service pellet so you'll have different capabilities from the bank and as well as capabilities from outside of the bank so what you do is you bring these individual capabilities onto the canvas and you build your experience so this is your values too and values to can be identified using international banking account number or it can be a username it can be a qr code it can be attached to an email it can be attached to a form so this is the identifier this is the way that you define your identity and you can attach different income sources into values too and then what you do is you kind of partition your values to into different parts like you know savings and bills and then you build um the experience by dragging and dropping these different service capabilities into the canvas and so this is how you build your experience on the canvas and you can start from the scratch or you can use templates and you can use modify those templates and build your experience and if it is if it looks cumbersome you can use a chatbot and there are there there are different capabilities that we will be providing on canvas that can be used to build this experience and you can share your experiences and you can you know use for and to chat and understand how what are the capabilities available and things like that so this service palette is is where you the bank can provide different capabilities within within the bank and as well as the capabilities that are coming from your partners um so um can candles can be used for business as well um especially uh small and medium enterprises so what happens is um the small and business small businesses would like to kind of focus on their businesses and outsource their day-to-day activities into bank and bank provide different capabilities on the camera so the business can build their business behavior on the canvas so it can banks can provide payment services you know export import services forex trading card management you know understanding patterns of your consumers and and you know different capabilities right so what the business can use embedded banking so what happens is these capabilities the business capabilities will be embedded within your business function and it automatically connects with the business banking experience and have that data flow into the bank and provide these capabilities so all of these interactions are happens through apis and will be happening in the background so this is what the capabilities that can be provided on the business canvas and um so if you look at how we would enable this uh canvas what are the technological building blocks that we would use um in building this canvas so canvas is a single page application or a mobile application that is facing the customer and there will be a set of layers underneath the canvas event bus and a service mesh and these layers would be using the services and um so probably you remember that uh on the canvas we we had a a service palette and that service pellet is uh is basically a catalog of services so these services are provided by the bank or the fintechs the partners you know different value-added services providers so bank can provide a api marketplace and these service providers can onboard those services as apis onto the api marketplace so you'd the bank needs to provide the bank the on-boarding processes and you know different business models monetization models on the api marketplace so the partners can provide those capabilities as services on the api marketplace and then you can build a api catalog and then you can use multiple apis to build api products or you can use single apis based on your need and you expose those capabilities on the service pillar and open banking provides a way of standardizing this interaction um and and bank can play uh data recipient and data holder like both roles and since this is a rich internet application so eventing is important so you need to have a inventing bridge and establishes um you know interact with the user and the banking experience that you build using you know building blocks uh is actually a workflow there the underlying concept is of workflow so um you need these building blocks together and build a workflow and workflow um you know look up different apis services and build the experience and analytics is very important the real and real-time analytics because it provides improvements and understand patterns of customer engagement and the other important element is identity so you should be able to provide identity capabilities from multi-factor to adaptive authentication the federation capabilities because um you know there are different identities available in in different silos you should be able to bridge those identities and support multiple identity mechanisms um and and and uh you can provide machine learning and you know a semantic business layer on top of your uh person or driven warehouse um so these are the key elements that enable banking experience canvas and as ws 2 we provide um you know the api capability the integration capability and the analytical capability which enables building of this um banking experience canvas yeah so with this i'm ending my session and thank you very much for uh participation yeah thank you very much dasana uh i have i have one question directly uh how do you manage this canvas this banking experience canvas as a team how do you integrate it into maybe i don't know uh whatever scrum or agile methodologies uh like who are the person involved into that canvas yeah so this canvas is actually built by the customer um what bank provide is the the interaction and the tool set on the canvas and how the banking engineering team would engage here is like they will basically make these services available on the services palette and as well as they provide uh they will look at they will build analytical models on on data that is being kind of you know accumulated and and and provide um you know analytical information or patterns to improve the interaction on the canvas um yeah um was that useful yeah uh sorry uh one last question uh what is what is the impact seen in development of banking experience using the canvas do you have any stories or customers who have implemented it and changed their way of building uh banking applications yeah so we have seen some banks looking at building this kind of interaction model like a holistic interaction model looking at you know looking at the need of the customer bringing in different capabilities so i have involved in a few banks in australia which want to build this kind of interaction model so basically uh with the open banking initiatives uh the consumer data rights in australia you know in australia the consumer data right run across banking telecommunication logistics it is across all the industry domains so we can bring those capabilities like you know different capabilities outside of banking and provide that the holistic experience building the need um so i'm working with multiple banks um enabling them uh to provide that um service capability to build that uh canvas yeah and it's okay yeah now i i was asking here on what website uh we can find it um especially on big four um i will share those links with you okay thank you very much we will share it to everybody thank you very much tasana that's really insightful some some feedbacks in the chat about how the presentation was great thank you very much