Adding Liveliness to Banking Experiences
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This document discusses ways to improve liveliness and personalization in banking experiences. It proposes using real-time APIs, scalable experience layers, and modular microservice architectures to enable seamless omnichannel experiences. Reference architectures are presented for real-time event-driven engagement, embedded banking services, and user-facing analytics driven by insights from customer data. The goal is to enhance trust and deepen customer relationships through personalized insights and recommendations.
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Adding Liveliness to Banking Experiences
- 1. Adding Liveliness to Banking Experiences Banking Innovation Forum APAC 2021 November 23, 2021
- 2. 2 : Hobby : Favourite toy : Job : Sport Dassana Wijesekara Head of Solutions Architecture Financial Services & Open Banking
- 3. Photo credit : Leigh Williams : Unspalsh Bank differently : Building the future bank Future-ready banking fit for the age of personalisation
- 4. 4 personal real-time trust insight To be successful, the bank of the future will need to embrace emerging technology, remain flexible to adopt evolving business models, and put customers at the center of every strategy. 1 2 3 4
- 5. Bank differently : Building the future bank Improve liveliness in customer engagement Photo credit : John Arano : Unspalsh
- 6. Server sent events Async APIs + REST Web sockets Push notifications W eb hook 6 In the moment insights : Liveliness Engagement channels Portal Mobile Kiosk ● Support real-time APIs ● Scalable experience layer ● Modular architecture ● Decoupled services ● Seamless omnichannel experience
- 7. 7 Reference Architecture : Real-time, Event driven Engagement channels Portal Mobile Kiosk Experience services Microservice Microservice Microservice Cloud-native scalability Decoupled edge experience layer Eventing infrastructure Message broker Business services Identity services Origination service Payment initiation Risk services Publish Subscribe Audit services
- 8. Embedded finance : collaborating beyond traditional boundaries Making banking services an enabler Photo credit : Koes Nadi : Unspalsh
- 9. 9 Reference Architecture : Embedded banking Financial Institutions External secure gateway APIs and API products Public Internet Merchant platforms Embedded payments Embedded credit Embedded insurance request / response Banking services Regulation Compliance Credit risk Trust eventing Multi-protocol support Flexible API security Full API lifecycle support Embedded finance infrastructure
- 10. Bank differently : Leverage data to differentiate Personalisation driven by insights Photo credit : Koes Nadi : Unspalsh
- 11. 11 Leverage data to differentiate : Know customers better Credit/ debit card ransactions Payments Open banking Data (democratising data) Competition Cleansed categorised & enriched data Personalised insights and advice Opportunities and recommendations Enhance trust & deepen relationships Streaming analytics AI & algorithms Machine learning
- 12. 12 Reference Architecture : User-facing analytics Engagement channels Dashboards Low latency distributed analytics Distributed real-time OLAP DB (e.g. Apache Pinot) Eventing infrastructure Message broker Business services Identity services Origination service Payment initiation Risk services Audit services Subscribe User-facing analytics
- 13. Web Mobile Kiosk ATM Smart Cards Bots Devices (IoT) Partners Resellers Fintech Government Developers Managed APIs Security Risk & compliance Integration Microservices Business Services Rules Workflows Business Process Automation Developer Portal / Marketplace CICD Sandbox Advanced Throttling Developer (?) Experience Performance Availability Integrations Risk Management Reporting Customer Data Management Liabilities Cash & Teller Operations Asset Management General Ledger Trade Finance Corporate Wealth Management Payments Card Management RTGS SWIFT Bloomberg CRIB Market Risk Credit Risk AML/TF KYC Advanced Analytics Management Dashboard Customer Profiling Regulatory Big Data & Business Intelligence Cloud Native / Provider-Agnostic Open Banking Core Banking System Omnichannel Experience Platform The WSO2 play : the innovation platform
- 14. The complete reference architecture Branch Mobile Web PoS Kiosk IoT / Devices Experience channels App Experience services Cloud-native - Coarse grained microservices Distributed messaging infrastructure Core services framework Edge (external) gateway KYC Cards Payments Loan/ Advice Core banking systems Partners Third party B2B proxy Regulator Subsidiaries Content Cloud-native - Microservices Big data Analytics CIAM Risk / AML / Fraud
- 15. Question Time!