How APIs & emerging global standards create opportunities for software developers & experts in FinTech
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The document discusses how APIs and emerging global standards are revolutionizing the fintech industry, particularly in payment services and solutions for financial transactions. It outlines the historical evolution of technology in both the automotive and financial sectors, emphasizing the role of standardization and componentization in fostering innovation. Payment Components and its expertise in financial software are highlighted as key players in navigating the industry's challenges and opportunities for developers.
How APIs & emerging global standards create opportunities for software developers & experts in FinTech
- 1. How APIs & emerging global standards create opportunities for software developers & experts in FinTech A case study of Payments Components' services & solutions for financial transactions
- 2. 1 2 3 4 APIs & Global Standards The building blocks of innovation & disruption We’ve seen this before… It’s not unique to software but rather a trait of technology The winds of change in FinTech The new face of corporate & consumer transactions Payment Components Who we are, Products & Solutions, Challenges moving ahead Opportunities For software developers & domain experts
- 3. www.paymentcomponents.com APIs & Global Standards The building blocks of innovation & disruption ›The Technology curves are intertwined & perpetual ›Technology thrives & accelerates using ›Common infrastructure ›Communication protocols / standards ›APIs ›Low code / platforms ›It all goes back to one of the most powerful “tools” one can employ The Power of Abstraction & Componentization
- 8. www.paymentcomponents.com We’ve seen this Before It’s not unique to software but rather a trait of technology 1908 Moved to another conutryproduced by Ford Motor Company. It is generally regarded as the first affordable automobile. Some of this was because of Ford's efficient fabrication, including assembly line production instead of individual hand crafting. 16.5 million sold 1886 Built by Karl Benz, widely regarded as the world's first automobile. Approximately 25 produced The car Industry The Benz Patent-Motorwagen The Model T by Ford Motor Company
- 9. www.paymentcomponents.com We’ve seen this Before It’s not unique to software but rather a trait of technology 2nd half of 20th century The oil crisis combined with the continuous specialization needed for more advanced components leads big manufacturers to start outsourcing the development & production of specific parts to 3rd parties. 1st half of 20th century The gradual rise of big automotive conglomerates, following the vertical production / integration approach. Smaller manufacturers (coachbuilders) gradually diminish & go almost extinct. The advent of the big automotive players The outsourcers - Componentization 21st centuryCustom coach-building back in style Smaller expert / niche manufacturers make a come back fueled by the proliferation of standard parts. The arguably most succesful newcomer / disruptor in the field is Tesla. It’s first car the Tesla roadster was based on a Lotus Elise body utilizing many standard parts. 2500 Tesla roadsters have been sold.
- 10. www.paymentcomponents.com The winds of change in FinTech The new face of corporate & consumer transactions Internet “e-Transactions” Sweeping the globe as a result of eCommerce boom & the gradual shift to eBanking ISO 20022 ISO 20022 is an ISO standard for electronic data interchange between financial institutions. It describes a metadata repository containing descriptions of messages and business processes, and a maintenance process for the repository content. SEPA The Single Euro Payments Area (SEPA) is a payment-integration initiative of the European Union for simplification of bank transfers denominated in euro. SWIFT the Society for Worldwide Interbank Financial Telecommunication (SWIFT) has the mission of creating a shared worldwide data processing and communications link and a common language for international financial transactions.
- 11. www.paymentcomponents.com The winds of change in FinTech The new face of corporate & consumer transactions Building Blocks of Payment Offerings by Banks to serve Customers Needs Source: CapGemini Financial Services Analysis 2015
- 12. www.paymentcomponents.com The winds of change in FinTech The new face of corporate & consumer transactions Number of Non-Cash Transactions (billion), by region Source: CapGemini Financial Services Analysis 2015
- 13. www.paymentcomponents.com Payment Components Who we are 2014 More than 25 years in financial software Work with the biggest financial institutions ›25 years of high expertise in FinTech ›Payment Components LTD registered in London since 2014 ›Offices in Athens & London ›We believe in fairness for all (employees, customers, partners) Our DNA Global Scope Work with the biggest financial institutions High Expertise More than 25 years in financial software Innovative Keep inventing new businesses and opportunities We are a leading provider of financial applications with expertise in international payment systems.
- 14. Messaging Libraries Production grade, tested, validated & continuously updated & supported libraries allowing the creation of FinTech applications FinTech Solutions Ready made FinTech solutions / applications catering to the needs of corporates. Full integration & customization to fit the clients environment Payment Components Products & Solutions www.paymentcomponents.com
- 15. Messaging Libraries Payment Components Products & Solutions www.paymentcomponents.com SWIFT MT SWIFT MX SEPA
- 16. Payment Components Products & Solutions www.paymentcomponents.com Our Messaging Libraries are powering solutions developed by
- 17. FinTech Solutions Payment Components Products & Solutions www.paymentcomponents.com aplon Cash aplon Trade aplon Hub Bank Notes
- 18. Payment Components aplonCash overview – the role of a Treasury Management System (TMS) www.paymentcomponents.com aplon Cash Receivables Consolidate receivables, map to issued invoices / clients Balances Create a view across all your bank accounts & currencies. Use it to optimize payments & transactions costs Payments Centralize electronic payments management, authorization & fulfillment Insights Unified view of cash flow cycle across the company, full auditing trail, historic data analysis & forecasts Corporate Bank Accounts ERP CRM
- 19. Payment Components Products & Solutions www.paymentcomponents.com Our aplonCash solution daily empowers financial professionals at
- 20. Payment Components Challenges moving ahead www.paymentcomponents.com 1. Recognition We want to establish a corporate image recognizable by all stakeholders in our field 2. Community Enable direct & ongoing communication between our core team, our existing & prospective clients as well as industry stakeholders 3. Innovate Continue to proactively respond to evolution in our field 4. Grow Expand geographically & in volume of sales. Support this growth via enhancing our team in numbers & skillsets As we have established our corporate presence, products & solutions, we are now confronting the next phase of challenges in our journey to expand & grow our business.
- 21. Opportunities For software developers & experts www.paymentcomponents.com Explore new Business Models (e.g. e-Currencies, BitCoin etc) Use Financial messaging standards to develop new applications Enhance existing corporate systems / applications by adopting Financial Messaging Optimize cost of transactions, own & control Banking interface Treasury Management Systems to consolidate transactions UI Consolidated Advanced Insights & Analytics, Forecasting Developers&Architects DomainExperts
- 22. Thank you for your attention Let’s discuss