Explain the impact Open Banking and Open Finance in the financial industry worldwide in recent years, the operational processes affected by this transformation and future business models where Open Banking and Open Finance will be present. Understand how it affects regulation, technological standards, data protection and security and how it affects new players such as FinTechs, Neobanks and Big Techs, and find ways to make appropriate links with them.
Understand the direction of the institution and identify the appropriate models, opportunities, and initiatives to leverage their strategy and add value to their products, services and operation.
- Use case discovery
- Use case evaluation
- Access model selection
- Products and services discovery
- Data environment
- Technological feasibility
- Operational risk framework
Provide guidance to entities for the selection of different business models and develop the use cases in accordance with the commercial areas. These use cases will include current APIs, if any, and whether they need to evolve into new use cases which would contain Open Finance elements.
To ensure communication and understanding, workshops are held with representatives from different areas of the institution, mainly sales, product, business, IT and operations, where use cases are discussed in detail.
- Strategy development
- Business case development
- UX/DX User & developer experience
- Access model identification
- Framework for decision making
- Evaluation of partners
- Venture capital, mergers, or acquisitions
- Data mapping
- Analysis of data
- Legal advice
- Regulatory Consulting
Deliver detailed knowledge to develop and implement Open Banking and Open Finance in the main areas of the organization that enable the identified initiatives. Design and adapt current processes to join the particular requirements of APIs. From proposing an architecture, selecting providers, designing services, to implement organizational structures, success measurement, training and accompaniment during launch.
- Government model
- Creation and implementation of data standards library
- Dashboards with KPIs
- Success measurement
- Selection of IT providers
- IT architecture
- Service design
- Implementation design
- Implementation of technical and security architecture
- Implementation management
- Organizational structure
- Creation of regulatory structures
- Internal processes
- External processes
- Methodology for prioritization and selection of APIs
- Privacy risks, events, and consequences
- Risks, events, and security consequences
- Identification, response, and notification of incidents
- Risks, events, and consequences of payment fraud
- Go live, API Marketplace
- Accompaniment and training during the definition
- Change management
Carry out an in-depth review of the products and services that are operating and will be in the future apification offer, deliver a gap analysis, and together with the business areas create a roadmap of the following initiatives, leveraged on the existing ones, that allow further progress to move the organization toward the company's future vision.
- Execution and delivery of the gap analysis.
- Integration to the APIs to marketplace
- Operational implementation
- Final report with implementation recommendations
- Business use cases based on the final report of the gap analysis
- Training of the operating team
Evaluate the adequate performance of the productive services of Open Banking and Open Finance with their KPIs and SLAs, review if the policies and procedures are up to date and aligned with the business operation, regulatory and legal compliance, adherence to standards and operational incidents.
In order to deliver an evaluation report, diagnosis and identified improvements.
- Information security readiness
- Compliance readiness
- Technical and operational support
- Advice / diagnosis
- Report of results and improvements