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Open Banking at the centre of WSBI Innovation workshop

Open Banking at the centre of WSBI Innovation workshop

​​28 June 2019

WSBI gathered experts from banking, FinTech and startup industries for another Innovation workshop which took place on 26 June in Prague, Czech Republic. Co-hosted by WSBI members Česká spořitelna and Erste Group, the workshop focused on open banking and how to leverage APIs, data and partnerships in order to benefit from new business models and become more customer centric. 

Natalie Staniewicz, WSBI, kicked off the event with insights on new business options for financial institutions, use cases of APIs from other industries, open banking developments globally and latest use case examples visible in Europe.

Emphasis on CEE region

Determined by the geographical location, the event gave significant attention to the developments and challenges of open banking in Central and Eastern European financial markets. Martin Medek, Head of Open Banking at Česká spořitelna, presented open banking examples from Česká spořitelna and Erste Group Bank while Maciej Kostro, Board Advisor at the Polish Bank Association, shared an overview of open banking developments in Poland and Polish API Standard.

FinTech & Insurtech Independent Advisor Tomasz Jakubczyk discussed how to create attractive products and services for millennials and presented an example of Cashap, a banking and e-commerce app for youngsters in Poland.

Lessons from other markets

The programme of the latest edition of WSBI Innovation workshop was rich with cases from other markets. Peter Vesco, General Manager of instant salesware Rezolve, shared his insights on how to combine finance and commerce and how to integrate the concept of platformisation.

Adam Soukal, CEO & Co-Founder of Czech FinTech Startup Roger, talked about his experience in introducing business finance system for SMEs that allow them to take charge of their cash flow quicker and easier.

Gil Cohen, General Manager EMEA at Israeli FinTech startup Open Legacy, introduced the participants to the state of play of open banking and FinTech ecosystem in Israel, as well as his experience with legacy transformation, APIs and partnerships.

The partnership topic continued with Per Aström, Open Banking Manager at Swedbank, who presented his tips on how to build and keep successful partnerships between banks and FinTech startups.

Interactive discussions – key for successful workshop

Experience exchange and active group discussions are important elements of every WSBI Innovation workshop. This time participants discussed the state of play, the challenges and the next steps in the following areas:

  • Implementing PSD2 and looking ahead into open banking
  • Integrating the concept of Platformisation
  • Partnerships – how to establish viable partnerships in an open banking ecosystem
  • Data & Value-added Services

Moderated by experts in respective areas, the group discussions allowed participants to debate workshop topics more in-depth. 

​It became clear during discussions that open banking is now being seen as a business opportunity and not only a compliance and PSD2 issue. Participants agreed that Open Banking can enable better and more personalised and integrated offers towards customers, a rethinking of revenue streams, expanded business models for financial services and new ways to engage with the ecosystem of innovation stakeholders and service providers. However many different paths are still being discussed and envisaged at banking level depending on the institutions' focus and strategy. Banks, FinTech startups and solution providers need to keep working together to overcome challenges to adoption of new services and collaboration as well as build viable use cases on top of APIs.​

About WSBI Innovation workshops

WSBI Innovation workshops are a series of smaller scale events that aim to gather a small group of audience and encourage the engagement of all participants. Representatives from all participating institutions are encouraged to share insights, raise questions, brainstorm and provoke discussions and debates in all the sessions.

Read more about previous events: ​São Paulo​, BrusselsIstanbul and Hong Kong. ​

The latest edition in Prague attracted participants from Austria, Belgium, Czech Republic, Germany, Hungary, Israel, Norway, Poland, Russia, Spain, Sweden, Switzerland and the United Kingdom.

WSBI and innovation

WSBI sees innovation as a crucial ingredient to help its members thrive in the 21st century. As an international banking association that brings together savings and retail banks located on all continents, innovation and digitalisation can help foster closer customer relationships and better services while in the long term increasing financial inclusion and boosting sustainable, modern finance.

WSBI helps members by fostering exchange of experience and success stories through activities like the Prague workshop. That exchange includes efforts to facilitate knowledge sharing among members, with FinTech companies and other strategic frontrunners through exchanges of information and experience at all levels within the organisation as well as in-house knowledge management.

>> See full programme and speakers of the WSBI Innovation workshop in Prague

Digitalisation; Banking Technology; Customer Centricity; Innovation; Innovation Hub