API Adoption Patterns in Banking & The Promise of Microservices
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Transcript of API Adoption Patterns in Banking & The Promise of Microservices
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API ADOPTION PATTERNS IN BANKING&THE PROMISE OF MICROSERVICES?
Sachin Agarwal
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Digital Disruption in Banking
Mobile Cloud Customer Centric
Block Chain Payments FinTech
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Traditional Bank’s Challenges
Regulation Security Infighting
Mainframes Slow Vision
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What is Hindering Banks from going Digital?
Multichannel
Cloud
Consumer Preferences
Block Chain
FintechSpeed
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APIs are key to Competitive Dynamics
But there are some specifics traits and adoption patterns unique to banks
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APIs Adoptors in Banking
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Adoption Patterns for Banks
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1. Unlock Data
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Data Services
Packaged Apps
Mainframes
Break Data Silos
Create Customer Centric Views
Expose as APIs
Unlock Data from Legacy Applications
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1. Unlock Data
2. Share APIs
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Learn to Walk, Before you Run
Learn to share Internally
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APIs Foster Internal Innovation and Efficiency• Securely publish, share and use common services• Improve discoverability of internal services• Create internal communities to foster innovation
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Internal API Catalogs
• 100’s and 1000’s of APIs unlike a few external APIs
• Searchable
• Policy Based View
• Internal Hackathons
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1. Unlock Data
2. Share APIs
3. Security
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Realizing End-to-End Security
Managing the User Experience
Securing the App - PII, PHI
Enabling Easy Developer Access
Securing the Channel
Securing the Backend
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Major API Security Concerns
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API Consumer Security?
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Relevance to PCI Compliance• APIs are now part of e-commerce
• Card payments pass through API
• The infrastructure underlying the API?
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1. Unlock Data
2. Share APIs
3. Security
4. External APIs
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Open APIs or Private APIs?
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90% Private/Partner APIs
Customized Contracts/SLA
App Provisioning/Security
API Federation
Why Private APIs?
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1. Unlock Data
2. Share APIs
3. Security
4. External APIs
5. Step Away from Monolithic Apps
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Monolithic vs Microservices
• Unscalable• Hard to manage• Hard to learn• Slow to deploy
• Scalable• Easier to manage• Easier to learn• Quick to deploy
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Why should Banks care?• Benefits
– Improved agility– Better reliability, elasticity– Global scalability
• Challenges– Restructuring the IT organization – Agile, DevOps– Investments in new frameworks & platforms– Greenfield vs. Re-architecting– New skills development
• Design• Development• Testing
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Re-Architecting an Application
Monolithic Application
Monolithic Application
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Re-Architecting an Application
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Re-Architecting an Application
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Key Aspects of Digital Banking• Create Digital eco-systems with APIs
• Integrate data and applications to create a digital value chain
• Secure your digital interactions
• Create a scalable hybrid microservices infrastructure
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Questions@sachinagarwal@akanainc