Past sibos: Geneva 2016

Open API's and the transformation of banking

28 September 2016
16:30 to 17:15
Main conference session SWIFT Stand
Assistant Professor of Information Systems Management & Innovation
Warwick Business School, University of Warwick
Associate Professor of Strategic Management
Warwick Business School, University of Warwick
Head of Payments Strategy and Innovation, Payments, Services
RBS

The recent announcement of the newer version of the payment systems directive (PSD2) to be implemented in 2018 across Europe, as well as the open banking initiative in the UK (OBWG), push towards the creation of an open-banking environment through the introduction of open application programming interfaces (APIs). But many questions still remain. What changes will APIs bring to banks' competitive position in the market? Which market segments and products are going to be more attractive after APIs are applied and how far will the various banks go to turn these requirements into opportunities to serve end customers better? A SWIFT Institute funded study by Markos Zachariadis and Pinar Ozcan, based on field interviews with incumbent and challenger banks as well as FinTechs, aims to shed light onto these critical questions and outline the challenges banks are currently facing in this endeavour. In doing so we will discuss how challenger banks and FinTechs will position themselves in this newly created economy that has the potential to fundamentally disrupt banking. Damian Richardson from The Royal Bank of Scotland will wrap-up these session by providing a banks' perspective of API's.

Stream
Banking
Main conference session
28 September 2016
16:30 to 17:15
Main conference session SWIFT Auditorium
Main conference session
28 September 2016
17:00 to 17:30
Main conference session Innotribe