INTERFACE, by apidays - From Monolith to Open Finance with APIs by Marcilio Oliveira, Sensedia
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The document discusses the transition from monolithic architectures to open finance through the use of APIs, highlighting challenges in legacy systems and the importance of developer experience. It emphasizes the need for a modern integration platform that includes strategies for API governance, partner onboarding, and the development of new financial ecosystems. The framework presented aims to empower businesses to leverage technology, adapt to new regulations, and meet rising consumer expectations.
INTERFACE, by apidays - From Monolith to Open Finance with APIs by Marcilio Oliveira, Sensedia
- 1. From Monolith To Open Finance with APIs Marcilio Oliveira Co-Founder & CGO marcilio@sensedia.com
- 2. 2 Reform your architectural view 4 API Care & Developer Experience Seriously Conceptually - Unlock the "backend" Strategy & API Playbooks Platform Thinking From Monolith To Open Finance 1 3 5
- 3. Customer Environment Legacy Database ERP Services Cloud Some businesses…. Same challenges 1 Conceptually - Unlock the "backend"
- 4. Customer Environment Difficulty in partners onboarding Security Vulnerabilities Lack of agility and control Limited Scalability Uncertain model of business Complex legacies systems Legacy Database ERP Services Cloud What's in the way? Some businesses…. Same challenges 1 Conceptually - Unlock the "backend"
- 5. Customer Environment Difficulty in partners onboarding Security Vulnerabilities Lack of agility and control Limited Scalability Uncertain model of business Complex legacies systems Partners integration easily New digital products API as a product Innovation Legacy Database ERP Services Cloud What's in the way? How we help our customers Some businesses…. Same challenges 1 Conceptually - Unlock the "backend"
- 6. Customer Environment Difficulty in partners onboarding Security Vulnerabilities Lack of agility and control Limited Scalability Uncertain model of business Complex legacies systems Legacy Database ERP Services Cloud What's in the way? How we help our customers Some businesses…. Same challenges Modern Integration Platform 1 1 Conceptually - Unlock the "backend" Partners integration easily New digital products API as a product Innovation
- 7. The Composable Business Architecture 2 Reform your architectural view
- 8. User Interface Business Logic Monolithic Application BACKEND PARTNERS END CONSUMERS Data Layer Delivery of Products & Services The Challenge
- 9. Composability PBC (Packaged Business Capability) Microservices approach Independently deployed Optional User Interface APIs Internal Data and Metadata Event Channels Source: Gartner Composition Technology Low code Integration Development Automation Composed Application Experience User experience Packaged Business Capability (PBC) API- Only Applications API- First Applications Business API Marketplaces UX - First Applications API Products APIs, Events Stream Interface ● Open x Restrict APIs ● Product mindset for APIs ● Adaptive Governance ● Mesh architecture for microservices Relevant additional skills User Interface Business Logic Monolithic Application Data Layer
- 10. Source: Gartner API- Only Applications API- First Applications Business API Marketplaces UX - First Applications API Products User Interface Business Logic Monolithic Application Data Layer Difficulty in partners onboarding Security Vulnerabilities Lack of agility and control Limited Scalability Uncertain model of business Complex legacies systems PARTNERS END CONSUMERS
- 11. Sounds like Open Finance challenges? Open Finance is the creation of new financial businesses and digital ecosystems through the provision of APIs. ACTUAL MODEL OPEN BANKING MODEL BanK Bank app Clients Bank Integration with Customer Apps Integration with Customer Apps Integration with Customer Apps Bank App Third Party Apps Public APIs Private API
- 12. PLATFORM POSITIONING Definition: a platform is a business based on enabling value-creating interactions between producers and consumers. The platform provides an open, participative infrastructure for those interactions and sets governance conditions for them Source: Platform Revolution, 2017 3 Platform Thinking
- 14. Individuals | Things (IoT) | Startups | Partners Competitors | Vendors Benefits & Risk Potential Amount & Diversity of Connections PUBLIC INTERNAL RESTRICTED Supply Chain | Customers Things (IoT) Employees Providers Source: Gartner 2019 STYLES OF "DIGITAL PLATFORMS" ENTRY POINTS H i g h e r L o w e r H i g h e r L o w e r
- 15. Sensedia's Customers Digital Companies Individuals | Things (IoT) | Startups | Partners Competitors | Vendors Supply Chain | Customers Things (IoT) Employees Providers H i g h e r L o w e r H i g h e r L o w e r STYLES OF "DIGITAL PLATFORMS" ENTRY POINTS PUBLIC INTERNAL RESTRICTED
- 16. The competition is not only between companies, it’s between business ecosystems. Philip Kotler “
- 17. e-Commerce & Retail Health & Insurance Logistics, Machinery and Infrastructure Telecom & Software Energy & Utilities Banking Payments & Loyalty Services & Education
- 18. Improving your Developer Experience Empowering your API Care Operation 4 API Care & Developer Experience Seriously
- 20. ■ Got APIs, now what?? ■ How to attract and engage partners? ■ How to support and onboard developers and Partners? ■ Is the documentation up to date? ■ Is there anyone to ask questions, support and troubleshoot? ■ Communicate and engage with changes and evolutions
- 21. DEVELOPER EXPERIENCE ➔ Self-service ➔ Access control & onboarding ➔ Sandbox ➔ Code examples & SDK ➔ On Dev way
- 22. ● Service Level Agreement ● Scale & stability ● Policies & throttling backend protection
- 23. ● Dashboards & alerts full API operations ● Adjust logs need (Clearing the noise is hard) ● Be pro-active and get people informed
- 24. The Open Finance Strategy & Playbooks 5 Strategy & API Playbooks
- 25. New Competitors GAFA & other Tech Giants, Fintechs, Retailers, Telcos, Utilities... Taking advantage of their expertise in technology, CX and the lack of legacy to offer financial services New Technologies APIs, Cloud, AI, IoT, Blockchain... Operating alongside legacy systems and requiring specific knowledge New Expectations Omnichannel, Real-time, Portable, Transparent, Secure, Smart, Gen-Z... Higher expectation in the offer, delivery and attendance of financial services New regulations PSD2, CMA, UPI... Forcing the opening of data and services through APIS Financial Companies The OPEN FINANCE strategy makes it possible to use these forces to your advantage. The traditional model of the FINANCIAL SERVICES PROVIDERS is under pressure
- 27. ● Governance Models ● Continuous API Governance Improvement ● Governance and API Lifecycle ● Security Program & Policies API Governance ● Pains and Journeys ● Business Case ● API Value Identification ● API Selection and Categorizing ● API to Use Cases Mapping ● Tech / Digital ecosystem list Open Banking Strategy ● Prioritized APIs Design ● Technical Documentation (Swagger and GraphQL) ● API Analytics Dashboards Configuration ● Publishing APIs to Developer Portal ● Developer Engagement ● Partner Management ● API Care and Operation ● Reports ● Business inputs and dashboards ● Service Mesh and Microservice ● Security and Consent ● Standardisation of APIs and Data ● Guiding principles for API design ● API Management Platform ● Adaptive Governance ● Events Hub ● Sensedia Mesh API Platform & Add-ons API Design & Build Playbook
- 28. Open FINANCE Solution Backend and Core Financial Applications Microservices Governance and Reports Connection and Transformation Legacy DBs Webservices Cloud Authorization Server FAPI RW OpenID Connect Banks / ASPSP Consent Management Developer Portal and Sandbox TPPs Participant’s Directory Access Identity Certificates Directory Information Participant Information Core API Management Platform Security and API Protection Scalability, caching and rate limiting Governance and integration best practices API users engagement experience Provided By Brazilian Central Bank Open Finance API Templates
- 29. Sensedia Platform + Open Finance Sandbox Portal A complete and robust API management platform that offers the best operational experience, with security and scalability. Playbook Set of services that serve from strategy to the operation of your digital platform + Open Finance Platform & Playbook
- 30. 2 Reform your architectural view 4 API Care & Developer Experience Seriously 1 Conceptually - Unlock the "backend" 5 Strategy & API Playbooks 3 Platform Thinking From Monolith To Open Finance
- 31. ○ Open Banking ○ Business Architecture ○ Developer experience ○ Microservices Consulting Services Modern Integration Platform ○ APIs ○ Microservices ○ Governance ○ Event-driven architecture ○ Service Mesh ○ Connectors ○ Flexible Actions Innovative and complete SOLUTION with SAAS - API Modern Integration Platform and Specialized Services
- 32. "Sensedia recently added support for GraphQL and a new microgateway. This shows market responsiveness and innovation." “Visionary” “Leader" Gartner Magic Quadrant 2020 Forrester wave specialist API strategy and delivery service providers
- 33. "Sensedia recently added support for GraphQL and a new microgateway. This shows market responsiveness and innovation." “Visionary” “Leader" Gartner Magic Quadrant 2020 Forrester wave specialist API strategy and delivery service providers Innovative and complete SOLUTION with API Modern Integration Platform and Specialized Services
- 34. Welcome to the API Strategic Marathon! Are you serious about API Economy? Are You Serious about Open Finance?
- 35. Questions? Marcilio Oliveira Co-Founder & CGO marcilio@sensedia.com linkedin.com/marcilioso