23
Simon Wong, Regional Digital Architect API Led Digital Economy
Simon Wong, Regional Digital Architect
API Led Digital Economy
All contents © MuleSoft Inc.
The API Economy
2
APIAPI
AP
I
AP
I
API
All contents © MuleSoft Inc.
Creating new business models and
products with new customer insights
Drive innovations through Ecosystem
– Developer Communities
Delivering unique customer
experience with online interactions
Expanding market reach by leveraging
business partner channels at scale
Business Drivers for API Economy
In Flight
Assistant
Open
Banking
Developer
Portal
Integration
Omni
Channel
Interaction
Anywhere
Anytime
Delivery
Channel
Marketing
Know Your
Customers
Instant
Loan
Approval
Digital
Enabled
Employee
Micro
Insurance
Bank-
assurance
All contents © MuleSoft Inc.
Leading Digital Companies are defined by their APIs
SaaS
Platforms
Digital Service
Providers
Legacy
All contents © MuleSoft Inc.
Developer Portal becoming a new face of a Company
Uber: Personalized journeys
Twilio: Self-service support
Stripe: Tools for developer
success
NordeaBank: Gathering
developer input into roadmap
Sample Use Cases
All contents © MuleSoft Inc.
The eCommerce app uses ABC Financial’s loan API to
embedded loan application in the checkout page to
provide compulsive selling of their loan services
eCommerce app has a deep link to the financial service
provider website for applying loan on large amount purchase.
The user experience of a new browser session is disjoint.
API
API
API
API
Customer
Profile
Apply Loan
Embed Loan Services to 3rd Party Digital Stores via APIs
CheckoutAmount:
$82000
Instant loan from Bank Y
Industry
Core
Service
Bus
Firewall
Apply at BankY.com
ABC Financial
Web Site
Loan Offers
List of loan offers for
$100,000
Prime + 1% (2 years)
2% variable (5 years)
4% fixed (3 years)
1% + 10,000 (2 years)
Click to Apply
Fill in Loan form:
Name:
Account # :
Contact #:
Email:
Loan Amount : 82000
Verification code:
Submit
82000
Render Loan
Form
Confirmation of Loan
Application
Loan ID: SDK-27282-1
Funding #: 18533038
Use the funding number for
the transaction payment
Pay by:
Credit Debit Loan
ABC
Financial
Services
Mortgage
Calculator
eCommerce
API Endpoint Business Services
All contents © MuleSoft Inc.
Enter Customer’s Mobile
Identity Verification via Mobile Number
8
Show
Your
PIN
236547
Customer PIN:
98688383
OK
ABC Telco
Provider
Age: 21
Gender: Male
Color: Asian
236547
All contents © MuleSoft Inc.
Verify ID with API Orchestration
ABC Supermarket
API
API
APIOSS
Generate PINBSS/IN
Service
Broker
Firewall
Validate
Mobile No.
Validate PIN
ABC Telco
Provider
Send SMS
Show
Your
PIN
236547
Enter Customer’s Mobile
for ID Verification
987681796
Customer PIN: 236547 OK
Customer
Profile
Government
Cloud
Age: 21
Gender: Male
Color: Asian
Firewall
All contents © MuleSoft Inc.
Patient – Ted Choi
ABC Hosiptal
Enter your mobile
numer to verify you
QR Code:
>> 987681796
OK
Out Patient Registration
Name: Ted Choi
Mobile: 98681796
Company: Salesforce
Policy: 4647292974-1
Click for coverage
Outpatient: Networked
Specialist: Referral
Lab: Annual Cap
Claim Req: Diagnostic
Hospitalization: Gold
Room: Shared Ward
Give Mobile Number
Pass QR code
Request for Approval
Validation QR Code
Who is he?
Entitlement DataApproved
Enter Mobile
Scan QR Code
Medical Care Providers Validating Customer Policy
ABC Health
Insurance
Get Policy
All contents © MuleSoft Inc.
Patient – Ted Choi
ABC Hosiptal
API
API
APICustomer
Profile
QR Code
Management
AS400
Core
Integration Bus
Firewall
Validate
Customer
Validate QE
ABC Health
Insurance
Push QR to
Mobile
Enter your mobile
numer to verify you
QR Code :
>> 987681796
OK
Out Patient Registration
Approve
Access Privacy & QR
Schema
Privacy
Management
Get
Entitlement
Name: Ted Choi
Mobile: 98681796
Company: Salesforce
Policy: 4647292974-1
R.
Proxy
Get PolicyAPI
API
Click for coverage
ABC Health
Insurance app
Outpatient: Networked
Specialist: Referral
Lab: Annual Cap
Claim Req: Diagnostic
Hospitalization: Gold
Room: Shared Ward
Obtain Policy Data via User Consent with APIs
Business as a Platform
All contents © MuleSoft Inc.
Lifestyle Retailers
Social Marketing
Wealth
Management
Fintech
Financial
Institutions
Payments
Online Banking
Mobile Wallet
3rd party Loan
Providers
Enterprise
Customers
Ticketing
Banking
Ecosystems produce innovation
Technology
Processes
Information
Understanding your Ecosystems
CustomersBusiness Partners
Line of Businesses
All contents © MuleSoft Inc.
Banking as a Platform with APIs as Business Capabilities
Banking as a Platform
Bank Account
Credit Card
Payment & Wallet
API Layer
Financial Services (Bank and Ecosystem) Lifestyle Services (Ecosystem)Core Bank Services
Mortgages Personal Loans
Car Loans Remitances
Investing
Insurance
AI Based Customer Success Services
Bank Intl Remittance
Bank Mortgages Bank Personal Loans
Coffee in the morning
Search for cars
Compare auto insurance
Make travel plans
Look for apartments
Financial services sourced from the ecosystem to achieve best-fit for the customer
Lifestyle services integrated through digital partnering & personalized
location-based offers
Core banking services provided by
the bank
Analytics capabilities to understand the customer
using enriched data
Customer Lifestyle…
…enabled by a banking platform…
…that harnesses data and the ecosystem to create new value
Buy game tickets
Bank Insurance
Bank Investing
Partner Mortgages
Bank Auto Finance
All contents © MuleSoft Inc.
Key Business Models for Business as a Platform
Distribution Channels
Open APIs
Product Factory
Distribution Channels
Open APIs
Product Factory
Distribution Channels
Open APIs
Product Factory
Model A: Marketplace Model C: FactoryModel B: Distributor
Characteristics
Examples
The company leverages deep customer relationships to connect customers and other stakeholders in new arrangements. This enables the company to be a marketplace for services such as crowd funding, B2B exchanges and marketing
The company uses its customer insight and distribution assets to sell products that are sourced from the ecosystem. The differentiator of the company is an omni-channel relationship with the customer and the bank is agnostic about where the products come from
The company is a product factory that provides their core products to other members of the ecosystem who own the relationship with the customer and distribute these products. The company provides the license to do business.
Customers Businesses Large Clients Customers Businesses Large Clients
Customers
Businesses Large Clients
All contents © MuleSoft Inc.
Part
ner
APIs
Optim
ize p
rocesses &
rela
tionship
s
Public A
PIs
Expand m
ark
et
reach
Str
ate
gic
Busin
ess
Part
ners
Tech S
tart
ups/
3rd-p
art
y B
rands
Commercial clients/ Agents / IFAs
In-house/contracted developers
Journey Map for Industry Digital APIs
NEXT
Product APIsIncrease product value
Internal APIsImprove organizational agilityBankingInsuranceRetailAirline
Building APIs at Scale
All contents © MuleSoft Inc.
Business capabilities into reusable building blocks
APIs are made visible, secured &
governed by design
Can be moved independently across
environments without re-development work
APIs give you a standardized way to :
• unlock your systems
• orchestrate your business processes
• adapt the desired channel experience
Customer ID
Order History
API Contract
Logic
Connectivity
Customer Orders
API Redefined – Modern API – Building block to connectivity
Modern API
All contents © MuleSoft Inc.
API Led Connectivity Approach
19
Files Databases Legacy Systems SaaS apps
Central IT
LoBDev/IT
App Dev
Accessibility& Ownership
FTPCloud Apps
Modern
API
Modern
API
Modern
API
Modern
API
Modern
API
Modern
API
Modern
API
Modern
APIModern
API
Modern
APIAgility and new value creation
Core assets decoupling via a consistent contract
On-prem Apps
Social Apps
System APIs
Process APIs
Experience APIs
Modern
API
Modern
API
Modern
API
Modern
API
Modern
API
Modern
API Innovation and digital products
All contents © MuleSoft Inc.
Target Operating Model for API Economy
Processes
Enterprise Architecture
Customer, Partner complaints and
Refunds
Partnershipsand
Alliances
Partner Management
Standards & Best Practices
Technology Selection
People Management
Culture
KPIs
In Summary
All contents © MuleSoft Inc.
What does API Led Digital Transformation Requires of You?
Thank you
