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PICTURE BY KUSTER & WILDHABER PHOTOGRAPHY, FLICKR
APIDays Paris December 16th, 2016
REAL LIFE EXAMPLES ON HOW TO THRIVE THROUGH BANKING APIS
A FinTech history lesson
First wave: FinTech startups attack (2008-2014)
It was never cheaper to start a startup. And
regulation provided new opportunities!
Second wave: Banks fight back (2014-2015)
“Let’s be innovative and … do a hackathon!”
Third wave: Partnerships of banks & startups (2016ff)
Banking with “non-banks” will become the new normal
The result
What is figo providing?
figo opens financial silos
From more than 3.200 financial sources in Germany & Austria
Future: all SEPA countries
figo enables unified access to all financial sources Through figo all financial sources looks the same
financial sources
> 3.200 Banks
Credit Cards
Assets/ Broker A
PI
Auto Sync
Categori-zation
Payment
Aggrega-tion
Notifi-cations
HBC
IAP
ISW
EB S
CR
APIN
G
Multibanking in web & app
Risk management
Scoring
User verification
Account switching
Invoicing tools
Use Cases
Banks, FinTechs and othersConsumers
Customer logs into the online banking
with her/his credentials
figo inside technology
figo is for everyone
> 1000 are using figo
today
Banks
Payment Service
Providers
CC-schemes
Corporates
FinTechs
Credit Providers
Developers
figo and the first wave
Risk Analysis and scoring with digital bank statementsinstantly online.
More than 3.200 Banks
Creditcards
FinTechs
Meet figo verifier: Digitize loan application processes
Direct verification makes service
usable instantlyMore than
3.200 Banks
Creditcards
FinTechs
Meet figo verifier: Faster user on-boarding
Automated by accessingbank account data
More than 3.200 Banks
Creditcards
FinTechs
Meet figo verifier: Account switching services
Monitor, automate and initiate payments.More than
3.200 Banks
Creditcards
FinTechs
Meet figo initiator: Initiate payments directly in your service
Now figo supports the second wave
The bank as the financial home - where the user
stays longer
More than 3.200 Banks
Creditcards
FinTechs
Meet figo aggregator - Multibanking & account aggregation
What about the third wave?
The problems with “bank as a platform”
Problem on bank side _No revenue model through XS2A _No reach to developers & startups _No on-boarding process for new partners
Problem on FinTech side Not all account types included_
Too many different banks & technology_ XS2A is not an ‘all purpose tool’_
VS.
Third partiesConsumer figo XS2A platform for banks
Our XS2A platform is more than just a PSD2 compliance service
figo developer network
Easy access
Account InformationService (AIS) API
Compliance
Partner Management
Hosting & Security
API Management
Payment Initiation Service (PIS) API
Core Banking
Service A
Fintech B
OTHER
PARTNER
PSD2
COMPLIANT
XS2A-PLATTFORM
FOR BANKS
Platform stack used by the bank
One example: How figo brings together the whole industry
www.bankathon.net https://vimeo.com/191671868
ADDRESS figo GmbH Gaußstraße 190c 22765 Hamburg
WEB www.figo.io @figoAPI
Let’s change the way we bank today!
LARS MARKULL
E-MAIL:
MOBILE:
TWITTER:
+49 151 50 580 510
@LARSMARKULL
