Danske Bank

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PSD2 Implementation and seizing the opportunities Knut Anders Wangen Chief Digital Officer Norway Danske Bank

Transcript of Danske Bank

Page 1: Danske Bank

PSD2Implementation and seizing the opportunitiesKnut Anders Wangen

Chief Digital Officer Norway

Danske Bank

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The PSD2 landscape

Digital aggregators have already disrupted a number of industries,PSD2 could be the accelerator for financial service disruption

Source: Expert interviews; McKinsey FinTech Panorama data base; Team analysis

ILLUSTRATIVE

Job search Retail Travel

Maturity

Time since disruption started

Financial services

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The PSD2 landscape

A number of new opportunities will derive from AIS and PIS

Money

transferPayment

initiation

services

Mobile

payment

Spend

overview

Budgeting

tools

PFM

Tools

Financial

Overview

Recurring

payments

Account

information

services

Cross

border

transfer

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Approaching PSD2 as an opportunity

Increased connectivity through APIs and Open Banking approach offers new possibilities

Willingness to invest

Open platform supporting

scaling & partnering

Focus on cx and innovation

Willingness to invest

New technologies,

capabilities and know how

New business models

New operating model

In-house

developmen

tInvest

and

partner

Acquire &

Integrate

Reputation

Willingness to invest

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Agenda

PSD2 API Implementation in Danske Bank

Organisational and commercial initiatives

How to get started

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Work on PSD2 Compliance is well under way, but API implementation time-line is related to finalization of Regulatory technical standards (RTS)

Jan 2018 3Q 2019Timeline 1Q 2019

Da

ns

ke

Ba

nk

RTS Final Text

Released by

European

Commission

Nov 2017

Ind

us

try L

eve

l

Adopting PSD2

In to national law

Sandbox ready

for TPPs to test

API’s

(+12 months)

RTS Implementation.

deadline, incl. API’s

(+18 months)

RTS Analysis

DB API’s available

for selected TPP’s

Parliament expected

to approve RTS Text

2Q-Q3 2018

PSD2 Roadmap

updated based on

RTS implications

API Standard: Berlin Group (& Open Banking UK)

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Agenda

PSD2 API Implementation in Danske Bank

Organisational and commercial initiatives

How to get started

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Organising to capture opportunities

A number of initiatives are set in motion to capitalise on opportunities- The APIs are only an enabler

Nordic Startup

community platform

Building new

competencies

Organising for

partnerships

Open Banking UK

Nordic approach

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Financial Dashboard aims to provide full financial overview & control

By offering an interface that

• Adapts to corporate workflows,

• Integrates applications from

multiple service providers

• Features proactive advisory

and insights

we want to enable you to optimize

your daily financial workflows and

decision making

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How does Financial Dashboard create value?

Access to partners

An open and scalable platform

will provide a full financial

overview by connecting

services and information across

different partners.

Customizable platform

Tailor your own dashboard with

the right information to help you

streamline your daily workflow.

Automated workflow

Automated workflows will

optimize your processes,

reduce risks and allow you to

focus on your core business.

Advice and insight

Proactive advice and data

driven insights will support you

in making better financial

decisions.

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Agenda

PSD2 API Implementation in Danske Bank

Organisational and commercial initiatives

How to get started

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Danske’s Open Banking site with access to APIs will be our point of entry for digital eco system

A complete banking API

Secure APIs based on industry

standards across a range of

core banking functionalities

A solid test environment

A sandbox environment that

allows you to efficiently test API

integrations with your apps

Community support

A platform for collaboration and

building new digital products

and services

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Do you have a collaboration idea or do you simply want to be on the early access list? Head over to our website or get in touch with us for a quick meeting.

www.danskebank.com/OpenBankin

g

[email protected]

Constantin Marinescu

[email protected]

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Thank you!Knut Anders WangenChief Digital Officer Norway, Danske Bank

www.danskebank.com/[email protected]