Morning session - Edgar, Dunn & Companyedgardunn.com/wp-content/uploads/2017/03/Ver3.4_Tieto... ·...

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MorningsessionBringing innovation

to payments

14.03.2017

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© Tieto Corporation

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Agenda

Sheri BrandonGlobal Head

Transaction Banking, Tieto

About Tieto

Culture of Innovation

Global payment trends

Stephen WarnerHead of Sales UK, Ireland & BeneluxRetail Payments and Cards, Tieto

UK market challenges

Turning challenges into opportunities

Valdis JanovsSales Director

Retail Payments and Cards, Tieto

How can Tieto help in solving the market challenges

Customer case studies

Mark BeresfordDirector

Edgar Dunn & Company

Areas of opportunity for banks and PSP’s

Round table debate

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Getting acquainted

3

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Tieto at a glance

24%of sales

Multipleindustryproducts andservices

Financial Services

500+Supplier for

banksglobally

in IT services in Finland

and #2 in Sweden

#1

Billion EUR turnover

2015

1,46

Employeesin 20

countries

13 000

Projectsannually

3000• Retail payments and cards

• Global cash & liquidity management

• Instant Payments

• Loan Origination with Credit Scoring and LoanAdministration

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Building the Culture of innovation

5

Tieto values

We learn and grow

We work together

We are committed to quality

We care for our people and customers

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Globalpayment trendsand their impact

6


Socio-economicchange

Technology

Regulation

MEGA TRENDS 10 KEY TRENDS IN PAYMENTS

Open

Instant

Modular

Customercentric

THE NEW NORMAL IN PAYMENTS

#1CONNECTED

COMMERCE #2CLIENT-

CENTRICITYDRIVES

CONVERGENCE

#3INSTANT

PAYMENTS

#5NEW

ENTRANTS –MODULARISATION

OF BANKING

#4OPEN

BANKING

#7BLOCKCHAIN

#8PREDICTIVE ANALYTICS

AND MACHINE LEARNING

#9BANKING THE

UNBANKED

#10“CASH-LITE”

SOCIETY

AGENDA

#6FROM

PIPELINESTO

PLATFORMS


Confidential

Customer expectations fuel the disruptionCustomers demand new services faster and faster

Real-time

Self-service

Channel-independent

Personalised Experiences

Macro trends

Socio-economic

change

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9 Source: Ericsson Mobility Report 2016 / Image from: nrclive.nl

28bnconnected loT devices

by 2021

Connected everything

TREND #1 CONNECTED COMMERCE

2015 2021

Mobile phone subscriptions

Connected devices

30

20

10

0

billion

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For consumersDigital enabling customer-centric

solutions

TREND #2 CLIENT- CENTRICITY DRIVES CONVERGENCE

’’ I want one view to manage my daily spending

PayChose how and when to pay

Finance ManageTrack and plan my financial life

MY WALLET

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For merchantsDigital enabling customer-centric

solutions


’’ I need a solution supporting my business

Payments Cash mgmt Inventory

MY COMPANY

• Ensuring great experience independent of user channel

• Optimise supply chain and cash management

Image from: entrepreneur.com

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Examples from: Costa coffee, IKEA, SubWay

Payments integratedinto the shopping experience

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Implementations

globally

TREND #3 INSTANT PAYMENTS

Immediate Payment (ISO 20022)

Hybrid Immediate payment system

In Progress (discussion stage)

S. Africa Real time

clearing RTC

UK Faster

Payments

India immediate

Payments IMPS

Poland Express

ElixirSwiss Interbank

Clearing

Nigeria NIBBS

Instant Payment

Service

+30

*Hybrid Immediate payment system based on ISO 8385Source: Euro Bank Association and ISO20022.org

Instant

payments

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The idea behind PSD2Open Banking

TREND #4 OPEN BANKING

APP

APP

APP

APP

APP

APP

APP

De

fin

ed

ru

les …

…

Google services

Twitter services

Facebook services

Data mining service

Personal finance mgmt

Identity service

Net-worth service

In-Game services

…

…Standard interface (iOS, Android) Standard interface (Bank Account)

Source: Caps Initiative (Equens Worldline)

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Type of player Example Raison d’être Strategic objectives

Big banks greenfield digital only banks

Disrupt rather than be disrupted

Value proposition for new customer segments, Lower cost to serve through new channels

Digital native –challengers

User-centric and improved bank experience

Enhanced banking experience fortarget segments

New standards of cost-efficiency

RetailersExpand along the value-chain

Deeper share of wallet with current customers Expansion along the value chain, providing and end-to-end offering

Niche financial service providers, e.g. international money transfers, crowdfunding

Address underserved customers

Enhanced customer experienceLower cost-to-serve through increased efficiency

15

TREND #5 NEW ENTRANTS – MODULARISATION OF BANKING

15

The new payment and banking landscape -what implications on Tieto, e.g. who is our target customers, our offering?


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Telcos 100%

control - from

device to content

(Voice and SMS)

The journey that we have embarked uponfrom control of value chain to open platforms

Telecom

Industry

Bank

Industry

Degree of industry standardisation

Banks 100% control

from payment

instrument to

processing, e.g.

cards

Launch of

MVNOs, e.g.

Launch of new

payment providers

Access to

communication a

commodity

App store - primary

benefits to

Google/Apple and

developers (not

MNOs)

How can banks be

pro-active?

?Access to account

and payment a

commodity

16

VALUE CHAIN EVOLUTION

End-to-end control of

incumbents

Disintermediation at

customer touch-pointsCommoditisation of

back-end

Platforms the new

normal

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Platforms a new normalAffecting all industries

Park and return your car

TREND #6 FROM PIPELINES TO PLATFORMS

Groceries home delivery

Personal helper, handy man, IKEA assembler

Rent a car from a neighbour

Restaurant home delivery

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Changing logic and assets

TREND #6 FROM PIPELINES TO PLATFORMS

Product models

Physical resources

Hierarchical relations

Service models

Virtualised resources

Symbiotic relations

Users - participating and active

Things - connected and intelligent

Platforms - economics and scale

Data - own, shared and open

Source: Ericsson, Networked Society Lab

FROMconsumption logic

TOusage logic

TONEW ASSETS

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From product pushers to platforms

TREND #6 FROM PIPELINES TO PLATFORMS / TREND #4 OPEN BANKING

Crowdfunding platform

• Aiming at connecting 11 million customers with 100 partners by 2020

• Driven by new requirements for open, instant and personal services

Ecosystem for 3rd

parties

BNY Mellon published 55 APIs so far in API store

Open API framework

Developed by BBVA Bank for their Spain and US operations

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UK market insights

20

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Breaking down barriers in the UK

The Rise of Digital

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UK payment statistics2016

76%

Amount of Retail spending made with payment cards

£647BConsumer spend with cards

15B / 40 Milliondaily

Number of card transactions

Food and DrinkThe highest category£9.5Bper month

Source: UK Cards Association 2016 report

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UK spendingAverage spending by adults 2015

Source: UK Payment Markets – Summary , Payments UK,2016

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24 Source: UK Payment Markets – Summary , Payments UK,2016

UK spendingAverage spending by adults 2025

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Generation change fuels movement to digital

Pic

ture

: D

elo

itte

91% of 18-44 year olds in UK own a smartphone

compared to the population average of 75%

Young people 2x more likely to use mobile payments

in the future: 66% /18-34 y.o./ vs 33% /55+ y.o./

50% of 18-24 y.o. in UK check their phone in

the middle of the night

Source: yougov.com, US, 2016 & Deloitte Mobile Consumer Survey 2016

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Online Servicing

How banks have respondedEvolution of digital business

FUTUREPRESENTPAST

Digital

channels

Digital

propositions

Digital

ecosystems

Online Product Sales

mCommerce Evolved Stores

Click & Collect

New Business Models

Source: Digital Disruption: UK Banking Report

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27 Source: UK Payment Markets – Summary , Payments UK,2016

Priorities for digital transformation

Creating a customer-centric organisation

Enhance channels to give an omni-channel digital experience

Maximising usage of digital technologies (mobile, social)

Enhancing/ redesigning products & services for the digital age

Enhancing digital security

Pervasive automation to improve operational technologies

0 10 20 30 40 50 60 70 80 90 100

Renew back office to leverage new digital technologies

Building collaboration services ecosystem to improve differentiation

Empowering every stakeholder with actionable insights

78%

74%

68%

63%

53%

48%

44%

68%

31%

Confidential

© Tieto Corporation Source: Deutsche PostBank, Dennis Rabe, Mobey Day 201628

Customer

Bank

Customer

TPPs / partners(banks/financial)

XS2A Value added API

Business(fintechs/non financial)

Ecosyste

m

Free of use*

Example approach from a bankDeutsche PostBank

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52%

83%

39%

13%

0%

30%

75%

30%

15%

5%

In-house investorand developer

IndustryCollaboration

Platform provider Outsourcer Other

Preferred strategic response for banks in the face of increased non-bank competition.*

Source: Interviews with 24 European payment experts, March to May 2015, Deloitte analysis

* Respondents could choose more than one option

Preferred strategy

Non-card

Card

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Key challenges

Targetedcompetition: clear, simple, transparent

History and projection of new joiners to the interbank payment systems

Bacs

FPS

CHAPS

Source: PSR annual report 2016

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Extremely competitive environment in UK

Number of Challenger Banks by country,2016

Scale of the «Challenger»

Source: Burnmark

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Proportion of banks with innovation strategy

Regulatory

Source: Efma Infosys, November 2016

74%73%64%37%

2009 2014 2015 2016

Complexity in the

UK is «hard

wired»

«Regtech» – new

business for

FinTechs

38%

25%

25%

12%

Varying levels of Big data adoption and maturity among banks

Source: Capegemini, April 2014

Experimenting

Exploring

Deploying

Expanding

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Cost Reduction

The Digital opportunityChannel evolution – Online & Mobile

1

Source: BBA UK Banking Report 2015

RevenueCreation

CustomerExperience

Digital channels began life as technology-led cost reduction plays

432

1

As digital banking matured, the focus shifted toward digital as a tool for service and sales

2

Recently, banks are focusing on digital as a way of offering the customer a tailored, relevant experience

3

Moving forward, banks will need to find the right balancebetween these elements to fully capitalise on the promise of digital

4

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34 Source: Payment Disrupted, Deloitte 2016

Investing in forward looking activity

Create faster adoption cycles

Product innovation

Being clear about roles in the new

‘ecosystems’

Strategic partnerships are

critical to future growth…

The Digital opportunityCall to action

How can we help?

Tieto Retail Payments

and Cards


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Globalisation Population growth Ageing population Urbanisation Resource nexus

Dynamic digitalisation is at the core of what we do…Technologies, competences and industry specific services to make our clients’ services data

centric, realtime, predictive and networked.

Internet of

Everything

Customer expectations

Everything

as a service

Technology acceleration

World of

ecosystems

Innovations and disruptions

Public

Tieto’s solution for retail payments A set of off-the-shelf software packages for retail payments:

Electronic bill presentment

and payments

Mobile payments

Internet payments

Card payments

Instant Payments


Public

Interfaces to local payment networks and local switches

Interfacesto international

payment networks

Smooth integration with existing banking systems

On Premises or SaaS delivery mode

38

SaaS

PA DSS (v.3.1)compliant / ready for

new deployments

Solutionfor retailpayments


Public

Acquirer authorisation

Card life-cycle management

Fraud management

ATM management

Settlement

Dispute management

Clearing

Issuer authorisation

Transaction routing

Switching authorisation

POS management

Merchant account management

Fraud Prevention & Detection for Issuers

Financial productsCardholder account management

39

Tieto Mobile Payments ContactlessNFC / HCE solution:

Proprietarywallets

Fraud Prevention & Detection for Acquirers

Basic functionality

Public

Cloud based payments


Public

41

Card digitisation independent from schemes

Integrating with any mobile wallet app through API

Alternatively, unified token management platform that supports VTS / MDES and other issued tokens

In-house tokenisation – for mobile phones, wearables, etc.

OpportunitiesTieto Cloud based payments solution


Public

42

NFC OfferingTieto Cloud based payments solution

MDES support

Brand walletsupport

VTSsupport

Host Card Emulation

Bankmobile appProprietary

Wallet

What we can do?


Public

43

Consumer Merchant

Acquirers

IssuersSchemes

PSP’s

43

Target segments and customers


Public

Account

Enablement System

• Cardholder

Registration

• Token Issuing

• Cryptography keys

• Operational Web GUI

Credentials

Management System

• Communication with

MPA, and Google

push service

• Managing SUKs

(LUKs)

Transaction

Management System

• Verifying UMD and MD

cryptograms, SUKs

• De-tokenisation (real PAN

matching, expiry)

• Creating authorisation and

transaction with real PAN

Token Vault

Token storage for

token-to-PAN

mapping

Tieto Host Card EmulationHCE solution components

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Omni-channel payment solution


Public

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New opportunities with PSD2

Providing additional services through APIs

Providing superior customer experience through unified channel and payments management

Connecting to Faster Payments scheme

OpportunitiesOmni-channel payments solution

Picture: Payments, Cards and Mobile


Public

47

Central Bank

Banks/PSP/MNO Banks/PSP/MNO

Processing with no downtime

Stand-In processing and authorisation

Quickly connect to Central Infrastructure

using pre-defined gateway packages & SDK

Active-Active deployment

Message transformation mechanism

Support ISO 20022, ISO8583 messages

Simple channels integration

Identity management

Central infrastructureSwitching&Clearing system

Tieto Omni-channel banking solutionFor Retail banks (PSD2 APIs compliant / Instant payments support)


Public

48

PLATFORM

SOAP / REST XML

protocolPLUG-INS AND CONNECTORS

Open API

Identity MANAGEMENT

MessagesHUB

ATM

Application

Social network

Branch

VocaLink

…

Telco

…

back middleware Front

Cards

User

Accounts

Core

Banking

CRM

Other

Banking

systems

Self-service Device

management

Remote Banking Platform

Converter

Stand-In

i-bank

Open API and Instant Payments connectivity

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Operational scheme example

49

Clearing and

Settlement

Central Register

Account in Originator’s

AS PSP

Real TimeRouting

Payment Processing

Account in Beneficiary’s

AS PSP

API

Originatorbank

Payer PayeeBeneficiary

bank

STEP 1

Payer initiates a person to person transfer

STEP 2

Check payment and verify Mobile Phone number and account number Payee

STEP 3

In real-time mode the beneficiary's account is crediting

Interbank Real-time Switchfor P2P money transfers STEP 4

Originator and Beneficiarybank’s send notification about payments

Public

Issuing solution


Public

51

Stand-alone issuing solution for fast product creation / market rollout

Supports digital-only as well as physical card products with lifecycle management, fully supporting Apple Pay and Samsung Pay requirements

Single or multi institutional issuing capability

Credit, debit, prepaid, loyalty, instalment etc. products

VISA, MC, AmEx, JCB, UPI brands supported

OpportunitiesTieto Issuing solution

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Client use cases

52


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e-Commerce,

PSP

Enabling Samsung Pay and Apple Pay

Digital banking, tokenisation

Real time mobile payments platform

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E-Commerce acquiring & PSP business solution

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Established a dedicated processing centre fore-commerce – DECTA, launched in 2015

One of the largest banks in the Baltic States, specialised in corporate banking and affluent individuals

One of the first private banks in Latvia, founded in 1992

First in the Baltic States to emit EC/MC and VISA Platinum cards

First bank in the Baltics to launch its own internet banking application for iPhone

Images and information form Rietumu Banka homepage: https://www.rietumu.com/Decta homepage: https://decta.com

https://www.rietumu.com/

https://decta.com/

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Connects payment institutions, PSPs and eMoney issuers to Visa and MasterCard

Acquiring, processing, clearing in 18 currencies, P2P card to card transfers

Flexible SOAP API for processing transactions for purchases, payments, e-wallets, prepaid cards, airline-tickets with long record

Principal member of Visa and MasterCard, SWIFT and SEPA



https://decta.com/

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Enable small and medium banks to open e-Commerce merchant accounts for their clients

Allow businesses to set-up their merchant account directly for accepting credit cards online. Funds received into Rietumu multi-currency IBAN or existing bank account in any other bank



https://decta.com/

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Launch of SamsungPay and ApplePay

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Widely viewed as the pioneer of Russian consumer credit, the bank also dominates the merchant acquiring sector.

28 million individual customers

46 million issued credit cards

A unique payments platform combining leading payment systems, innovative technology and superior acceptance

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Launch of SamsungPay

Russian Standard Bank was among the first 4 banks to launch SamsungPay in Russian market (Oct. 2016)

Supported Payment schemes: MasterCard

Service available to Samsung Galaxy users

Application allows to link MC credit cards to ones phone and pay by simply tapping the phone to the POS terminal

Fingerprint authorisation

Role of Tieto: ensuring integration with MDES (VTS – in process)

Information from RSB homepage (Press Release): https://www.rsb.ru/press-center/news/2016/151116/Apple Pay participating banks in Europe: https://support.apple.com/en-us/HT206637

https://www.rsb.ru/press-center/news/2016/151116/

https://support.apple.com/en-us/HT206637

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Launch ofApplePay

Smart & easy way to pay –contactless payments using iPhone, iPad or Apple Watch

10% cash back for purchases with MC credit cards(for the period of service launch: 15.11.16.-31.01.17.

Supported Payment schemes:MasterCard

Fingerprint authorisation (Touch ID)

Role of Tieto: ensuring integration with MDES

10%

Information from RSB homepage (Press Release): https://www.rsb.ru/press-center/news/2016/151116/Apple Pay participating banks in Europe: https://support.apple.com/en-us/HT206637

https://www.rsb.ru/press-center/news/2016/151116/

https://support.apple.com/en-us/HT206637

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Digital banking. Tokenisation

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A branchless bankingplatform launched in 2015 by the Russian unit ofHungarian Banking GroupOTP

Competitive advantage –free market niche(the competitor in Russia Tinkoff Bank)

Customer convenience asthe greatest priority –bank for everyday visit

Growth ambitions – 1M newcustomers in five years; extend to other countries

Business driving values –agility, flexibility, high-techsolutions

New innovative products –multi-application card

Images from Touch Bank official website: https://www.touchbank.com


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Positioned as «Cards in card»

Possible to link with up to 5 cards fromother banks

Use one Touch Bank card by keeping thebenefits from other banks’ cards

/ access to the salary account

/ accumulation of air miles

/ bonuses in super-markets

/ discounts

/ cash-back

/ other

Technical solution powered by Tieto

Multi-application card

Images from Touch Bank official website: https://www.touchbank.com64

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65 Images from Touch Bank official website: https://www.touchbank.com

Register and orderthe card online byfilling in electronicapplication form

Link up to 5 cardsfrom other banks viainternet bank, define the usagerules for each card

Free-of-chargedelivery

Pay with onemulti-applicationcard and enjoy allthe benefits

1 2 3 4

How does it work?


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‘‘Cards in card’’success

Images from Touch Bank official website: https://www.touchbank.com

50 000 customers in 8 months

15 000 new customers monthly

Service penetration 20% of all services, continuing to grow by3-4% per month

66

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Mobile payments platform Siirto


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SiirtoFinland’s first real-timemulti-banking platform for mobile payments

1st ever payment platform with open interfaces

- Send & request money

- Notifications

- Split shared costs

- Reminders

PSD2compliant

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Some of Tieto’s customersGlobal coverage

http://www.fibank.bg/index.php?language=38

http://www.fibank.bg/index.php?language=38

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Continue the dialogue with us!

Retail Payments and CardsTieto Financial Services

tieto.com/cards | [email protected]

[email protected]

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Payments Roundtable debate

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How can banks and payment service providers leverage the

PSD2 and go beyond compliance?


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Cloud

computing

20202010

Digital

73

Physical

19901980197019601950 2000

ISO 8583

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Retail payments innovation

73


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Immediate

74

Batch

19901980197019601950 2000

1973

Cloud

computing

2010 2020

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Institutional payments innovation

74


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75

ConsumersMerchants

MerchantAcquirer

Card Issuer

Payment Company

Consumer’sBank

ACH / Retail Banks

Merchant’s Bank

Alternative Players

Card Payment System

(payment charged to payment card)

ACH Payment System

(payment charged to bank account)

Merchant Guarantee

No Merchant Guarantee

Today, there are two retail payment systems

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76

ConsumersMerchants

MerchantAcquirer

Card Issuer

Payment Company

Consumer’sBank

Fast ACH

Merchant’s Bank

Alternative Players

Card Payment System


ACH Payment System


Merchant Guarantee

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Merchant Guarantee

Today, there are two retail payment systems


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But the payments landscape is changing

ConsumersMerchants

MerchantAcquirer

Card Issuer

Payment Company

Consumer’sBank

ACH / Retail Banks

Merchant’s Bank

Alternative Players

Card Payment System


ACH Payment System


MNO’sDigital Giants

Security & Identity

Social Commerce

Alternative Players

Gateways / PSPs

Device Providers

Cloud Services Disruptors

Direct Payments

Mobile Acceptance

Wallets


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78

Regulation and payment innovationPSD2 is intended to continue the standardisation of Payment Regulation across

the EU and EEA, by providing:

Reduce ambiquity

Level the playing field for payment providers

Increase consumer protection

Stimulate innovation

Increase competition

- Access criteria

- Regulated entities

New payment service provider types

- Account Information Service Providers (AISP)

- Payment Initiation Service Providers (PISP)


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Today Post-PSD2

Consumer Merchant

AcquirerIssuer

Consumer Merchant

Issuer

Third parties can act as a Payment Initiation Service Provider (PISP)

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PSD2 is expected to impact the flow of payment transactions


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PSD2 will change the competitive landscape

A huge number

of new providers

will flourish within

the emerging

API and data

economies

Consumer

Bank Data

Proprietary Apps

Private API

Ba

nk

Do

ma

in

Today Post-PSD2

Consumer

Bank Data

Proprietary Apps

Private API

Ba

nk

Do

ma

in

PublicAPI

Consumers

Third Party Apps and new entrants will provide more choice and services


Inte

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81

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The API and

data economy is

creating new

opportunities to

build digitally

connected

experiences for

consumers


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With the increasing pace of

change in payments this is the

time to develop new payment

strategies…

It is not just a question of

compliance

It is time for financial institutions

to develop three workstrems

Create New Customer

Experiences

Create A Partnership

Strategy

Create New Products

and Services

What are the areas of opportunity for banks and payment service providers

Thank you...Edgar, Dunn & CompanyCandlewick House120 Cannon Street

LondonEC4N 6AS

Mobile: +44 7825 027525Tel +44 207 283 1114

Fax +44 207 283 1007

[email protected]

Mark BeresfordDirector

Thank you!

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