apidays London 2022 - Lessons from using APIs to transform a niche FinTech into a retail brand, Ian Pender, Flagstone

apidays London 2022 - The Path from Open Banking to Embedded Finance
October 26 & 27, 2022

Lessons from using APIs to transform a niche FinTech into a retail brand
Ian Pender, Lead Principal Engineer at Flagstone
------

Check out our conferences at https://www.apidays.global/

Do you want to sponsor or talk at one of our conferences?
https://apidays.typeform.com/to/ILJeAaV8

Learn more on APIscene, the global media made by the community for the community:
https://www.apiscene.io

Explore the API ecosystem with the API Landscape:
https://apilandscape.apiscene.io/

Deep dive into the API industry with our reports:
https://www.apidays.global/industry-reports/

Subscribe to our global newsletter:
https://apidays.typeform.com/to/i1MPEW

Transcript

1. Lessons from using APIs to transform a niche FinTech into a retail brand Presenter: Ian Pender October 2022
2. 2022 SERIES OF EVENTS New York JULY (HYBRID) Australia SEPTEMBER (HYBRID) Singapore APRIL (VIRTUAL) Helsinki & North MARCH (VIRTUAL) Paris DECEMBER (HYBRID) London OCTOBER (HYBRID) Hong Kong AUGUST (VIRTUAL) JUNE (VIRTUAL) India MAY (VIRTUAL) APRIL (VIRTUAL) Dubai & Middle East JUNE (VIRTUAL) Check out our API Conferences www.a pida ys .globa l Want to talk at one of our conferences? apidays.typeform.com/to/ILJeAaV8
3. 2 Flagstone  The UK’s leading cash deposit platform  Provides access to: – Hundreds of accounts – Exclusive and market-leading interest rates – Up to 50 banking partners.
4. 3 Ian Pender  Lead Principal Engineer at Flagstone  I have been – An architect at Huddle – Consultant with a variety of technical roles and industries
5. 4 eSynergy  eSynergy is a technology consultancy that accelerates business value for its clients.  Working with enterprises and scale-ups in highly regulated industries, eSynergy build scalable platforms, products, and services.  Practices include Platforms & Cloud, Data, and Business & Tech Agility
6. 5 01 I. Low confidence in IT delivery Historic issues with delivery 02 II. Lack of public APIs Internal automation only 03 III. Monolithic system Slow release cadence and high team coupling A niche Fintech with common challenges
7. 6 A serendipitous opportunity  A hard-to-sell plan to build again  And then an opportunity arose  Lesson 1 : The right idea sometimes needs to right time
8. 7 A pioneering API is built  December trials, January live  A new business channel  Lesson 2 – Some ridiculous targets are worth stretching for
9. 8 Transformation of the company Confidence in IT and new opportunities started broader changes within the company…  Tribes, and later squads more aligned  Apps attached, more segments migrated  Productisation of APIs  Lesson 3 – a company can be transformed when relationships change and trust rebuilt
10. 9 Increasing automation and integration New opportunities and greater alignment allowed greater efficiencies:  AISP / PISP licenses (dormant) used  Compliance  Internal systems  Lesson 4 – increasing the use of APIs greatly improved margins, automation and engagement
11. 10 Bank integration  HSBC API  Accurately and unique funding options  Technology - delivering clear client benefit
12. 11 Future  Partner integration via API  Deepening supply-side APIs  Partner banks?  Events  Lesson 5 – without increasing integration on the supply-side – there’s a limit to automation
13. 12 Close  Fintechs without external APIs are losing opportunity, and falling behind  Holistic change - tech and business transformation together  Change is limited without full vertical automation
14. 13 Questions ?