Open Finance
Combined Session
Wednesday, June 05, 2024 12:00—13:00
Location: B 09
Wednesday, June 05, 2024 12:00—13:00
Location: B 09
After painfully figuring out, adopting and stabilizing PSD2, PSD3 is already right at the corner. It's going beyond forcing banks to provide access to Third Party Providers to customer transactions and payment initiations with the customer's consent. The main challenge for banks is not the implementation, but capturing business opportunities around those regulations rather than seeing them as constraints.
In this talk, I will describe an Open Finance architecture which allows:
- Anticipating future regulations by structuring services that are secure and provide useful data, including strong customer authentication to confirm one's identity out of the box
- Setting up the right API management tools that can be used internally, for regulatory APIs and bankable APIs
- Providing additional services to consumers through extensible web interfaces
In the ever-evolving landscape of digital identities, the integration of secure and efficient payment solutions within Decentralized ID ecosystems represents a critical advancement. This talk delves into innovative methodologies for facilitating payments for issuing, presenting, and verifying digital credentials. Throughout the presentation a range of possibilities that enable both the payment and receipt of funds in the context of SSI will be covered. The discussion will focus on real-world use cases, demonstrating the practical application of these concepts. A central aspect of the presentation is the examination of the smartphone app 'Hidy,' which serves as a prime example of these principles in action. Attendees will gain insights into the complexities and nuances of incorporating financial transactions within the SSI framework. The presentation aims to provide a comprehensive understanding of how payment solutions can be effectively implemented, ensuring both security and user convenience. This session is particularly relevant for those interested in the intersection of digital identity and credential verification and financial technology, offering a glimpse into the future of secure, decentralized identity management and transactions.
Powered by CIAM platforms, Unified Digital Banking deployments are important enablers for the business. What do business executives need most from these investments? Are solutions delivering the value? What does this mean for CIAM looking ahead? Join John Horn from Datos Insights as he dives into results of new research involving 240 CIAM leaders from across the globe.
