Mobey Forum is a global network and knowledge platform that brings together financial institutions, suppliers and Fintech professionals. The forum is focused on exploring the future of payments, innovation in banking, and the role of technology in shaping financial ecosystems. Members discuss the latest trends and opportunities with like minded peers.
This year, Ximedes co-hosted the Mobey Forum's Amsterdam Member meeting, which took place on November 19-20, 2024, at ING Nederland's headquarters. The event featured a series of in-depth sessions, panels, and networking opportunities, with a focus on monetization of APIs, embedded finance, and the integration of technology into financial services. A highlight of the event was Ximedes' networking dinner, which brought together participants for meaningful conversations over delicious food.
Thanks to industry leaders and experts, the forum provides an environment for learning and collaboration. These are our key takeaways:
APIs and their monetisation
As it was one of the main topics, many presentations were about financial institutions monetizing APIs, and what some of the key challenges and key wins are.
One speaker highlighted challenges in direct API monetisation, or a pay-per-use model. There is need for a tailored approach, as the indirect benefits like retention and Customer Lifetime Value often increase when you offer APIs, even if it's not an immediate revenue generator.
Another speaker discussed lessons learned from PSD2 APIs and outlined three possible monetisation routes:
- Corporate Direct APIs: Designed for corporate clients, meeting enterprise needs.
- PSD2 APIs: Enabling A2A payments and enhancing service propositions for merchants.
- Premium Payer APIs: Offering features like subscriptions, BNPL, and loyalty options to improve merchant conversion, often using a different rails than the PSD2 APIs
A Dutch neobank founder presented on improving banking by sharing revenue transparently with users, supporting social and environmental causes, and tailoring services to niche markets using "public" APIs and services.
In the following panel discussion, the transformative impact of PSD2 and upcoming regulations on banking APIs was explored. The speakers emphasized collaboration between business and IT, cultural shifts within organizations, and the importance of starting the journey to unlock API potential, learning through trial and error over time.
FiDA
Another key topic at the Mobey Forum Amsterdam Member Meeting was Financial Data Access (FIDA). The huge scope of FiDA of was discussed, as were:
- Confidentiality: Excluding confidential business data from FiDA's scope.
- Scheme Enforcement: Ensuring data sharing happens only through secure schemes.
- Market Demand: Aligning data sharing and scheme development with market needs.
- Timelines: Establishing clear timelines for implementation and operationalization.
It became clear - also during panel discussions - that most bankers and insurers are aiming to share data under FiDA within member states, and not necessarily within the entire EU.
Embedded Services
With Embedded Services being one of the topics, Ximedes was privileged enough to give a presentation about their embedded offering in the public transport market.
Our CCO Gijs ter Horst showed the participants the evolution of public transport in the Netherlands and how embedded payments and reconciliation and settlement play a crucial role in this.
Another presentation in this bracket highlighted the relevance of embedded services for financial institutions. The speaker discussed how such services allow banks to integrate into business platforms, adding value for customers and enhancing competitiveness. These services strengthen existing client relationships, attract new clients through third-party collaborations, and generate additional income.
