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Open APIs are changing the next generation of financial services Startplatz, Cologne, 05.02.15

André M. Bajorat‣ Consultant, Business Angel, Co-Founder, Mentor,

Key-Note Speaker, Herausgeber

‣ Inhaltliche Schwerpunkte

• Banking, Payment, Mobile

‣ Berufliche Historie seit 1997

• Sparkassen Finanzgruppe 97-09

- SK Online

- M.d.Gl. Star Finanz / StarMoney

- GF giropay

• NumberFour AG 09-11

• seit 2011 amb consult

• seit 2012 GF und Co-Founder des Fin-Tech StartUps figo

• Beirat bei FinLeap und Cringle

• Initiator der Wahl zum FinTech des Jahres2

Introduction

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There is a sustained change how we want to do bankingBanks are under pressure

‣ Never before so many solutions of non-banks have sprung up around banking services as in recent months

‣ What are the reasons?

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Behavior patterns and demands of users changed

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And the way we use servicesMobile has changed the world

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In the beginning of digitalization, banks were forerunner

But the benchmark for new financial

services do not put banks anymore

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All needed information in one screenTime-lines and feeds are standard

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One link is enough to get all information - think about your bank or credit card statements

Silly data finally obtains context

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Same data on every device

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German savings banks are creating data silos for every device

Banking in Germany is still a pull experiencePush is standard

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Ident-Broker

‣ It is standard to use a central ID in different services and to use the data across services

• Twitter

• Facebook

• PayPal

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And in addition…

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‣ Customers are using bank products from different banks

• „There is an app for that“: or an bank product for this case

‣ The relevant player for personal finance are growing • Banks + Wallets + FinTechs

Personal Finance is fragmented

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Sum: Gap between Offer and Expectation

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And now… APIs

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APIs are one of the best answers for innovationsWhy do we need modern Bank-APIs?

‣ Human behavior has changed and is changing more and more

‣ Mobile and the app-economy has changed everything ‣ Banks are not the forerunner anymore ‣ Speed is crucial ‣ Right context is necessary ‣ And never the less: bank products are software

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Some words about figo…

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It is damn hard and complicated to build services based on existing infrastructure.

What are the problems?

‣ Banking/Financial interfaces are old and fragmented. ‣ No single point of entry to all financial data services.

Neither for developer nor for end users. ‣ High development costs to connect software with today

financial interfaces.

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Backbone of next generation financial servicesfigo’s mission

‣ Enabling developers to easily create universal financial services and products based on our agnostic technical concept.

‣ Providing insights based on personal financial data to the end user.

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User accesses data through a central

financial ID User- & Access Management

Metadata Enrichment Realtime sync & Notifications

Sync across devices & services Smart Data

Partner connectsfinancial IDvia figo’s REST-API

Hosted in a German Bank Data Center

Financial Data

Apps ToolsServices

Banks Creditcards Wallets Cryptocurrencies Broker

How it works

Financial data brings contextPossible use cases for figo

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Identification Payment Wealth Management / Investing

Productivity figo Banking

Insurance companies Risk management Accounting

The figo API is already the backbone of well-known companiesSelection of use cases currently in use

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Banking Apps Bank transfer for p2p payment

Scoring and Identity

Banks

figo

Open position management

Cross selling Scan and pay / Travel-Expenses

Online payments

> 30 years FinTech ExperienceAnd by the way - this is figo

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André M. Bajorat

Joachim Penk

Lars Markull

Sebastian Tiesler

CEO & Sales

‣ Exec. consultant in finance & payment

‣ VP Product Marketing, CEO at NumberFour

‣ Managing Director at giropay ‣ Management Board at Star

Finanz ‣ Advisory Board Member at

FinLeap / ExecIO / Cringle / Mobicom

‣ Mentor at Plug&Play, Microsoft Ventures, startupbootcamp

Technology

‣ Freelance Software Developer ‣ Entrepreneur fwd.io ‣ Co-Founder (CTO) Mikestar

Business Dev & DevCom

‣ Shortcut Ventures ‣ SumUp

Product & Sales

‣ Head of Mobile Solutions at Star Finanz

‣ Senior Account Manager at Star Finanz

‣ G&J Multimedia Ventures ‣ Project Lead eCommerce at

Ponton Software Technology ‣ Project Lead B2B at

Mindways Multimedia

Heiko Rahlfs

Finance & Operations

‣ Consultant for Organization, Processes & Finance

‣ Partner at Putz & Partner Unternehmensberatung AG

‣ Manager at Lischke Consulting GmbH

‣ Relationship Manager Corporate Finance at Dresdner Bank AG

‣ Diplom Kaufmann ‣ Banker (Bankkaufmann)

Resume…

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and a fundamental change in the marketThere is a need for Banking APIs

‣ Fidor provides the new Bank-API ‣ EPC is fighting for „Access to

Bank Account“ ‣ For UK Government open Bank-

APIs are driver for the FinTech Success of London

‣ > 140 Partners on figos Bank-API

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Yes they could be…Are Banks the right provider for APIs?

‣ Open APIs will give banks new speed ‣ External partners will bring innovations to the customer ‣ Banks are the owner of the data and the gatekeeper ‣ APIs are a new business model for banks

‣ but don´t wait for them!

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André M. Bajorat CEO

You are interested in what we are doing? Contact us!

amb@figo.me+49 172 4574783