ROGER MARTINEZ: Hi.
Roger here from Google Cloud.
And in this video, we'll have a look at Pay Later
and its relation to Open Banking,
a sample implementation of the API,
and the wider picture of consuming and publishing APIs.
Open Banking is a system of allowing access and control
of consumer banking and financial accounts
through third party applications.
It encourages interoperability between banks and consumers
by making available the bank's core services,
and accelerating their digital transformation.
First, we'll show you a common use case,
and then we'll unpack it for you.
We'll start with the end-user experience.
An API consumer, in this case a merchant
in the e-commerce industry offering last-minute Chromebook
deals, develops a new app experience
using Google Assistant.
Let's have a look.
Talk to Pixelbook Deals Store.
SPEAKER 2: Hi.
Welcome to the Pixelbook Deals Store.
What can I do for you?
ROGER MARTINEZ: Are there any special offerings?
SPEAKER 2: Here you go.
You've selected Pixelbook Go, 16 gigabytes RAM,
costing 854 pounds.
Would you like to pay now or pay later?
ROGER MARTINEZ: Pay later.
SPEAKER 2: OK.
Now choose the bank you're with.
After login to your bank, I need to link your Pixelbook Deals
Store account to Google.
Is that OK?
ROGER MARTINEZ: Yes.
When your account was linked to Google,
the app can customize your experience
based on your identity.
Financial data or authentication data cannot be collected via
the conversational interface.
So we're now shown the terms and conditions for Pay Later,
and there's a link to review those conditions.
Simply click on it and then return
to the deal page when ready.
Here's a sample reference to the terms and conditions page.
Whenever we're ready, we can go back to the main screen
and say, all good.
We now see some of the loan offers to Pay Later.
We can scroll up and still reference the terms
and conditions if we want to.
Once we're ready, we'll select the desired loan.
SPEAKER 2: OK that's it.
Pixelbook Go, 16 gigabytes RAM is now yours.
We'll take it from there and send you a confirmation email
across shortly.
Speak soon.
Bye.
ROGER MARTINEZ: Until now, we've looked
at this from the perspective of a merchant
leveraging the bank's Pay Later APIs to improve the checkout
experience.
But how do we get access in the first place?
Stepping back to look at the wider picture,
there are more actors involved to get it all working.
First, the bank wants to share a service.
In this case, the Pay Later API, but still maintain
some restrictions, such as applying a call limit.
Second, it's the merchant who is asking for access to those APIs
in order to build better apps.
Third, it's API product managers within the organization who
treat APIs as products, and therefore are
looking at publishing easy onboarding content
and getting an overview of the usage statistics.
Now we'll have a look at how a developer can find those APIs.
In this case, as an API consumer again.
Here's a sample developer portal of the bank,
which allows anyone to browse through the API catalog.
Here we are already logged in as an app developer
of a partnering organization, in this case, the merchant.
And the first thing a developer typically does
is build a developer application.
We already have here the Deal Finder Assistant,
previously created.
Upon approval of the bank, you receive credentials.
Namely an API key and secret to access this Pay Later API.
Very often, developers want to test this API
and want to see what the response is.
Or how to embed it in the application.
We can go into the Pay Later API specification,
and we can see all the different paths and operations.
Under Loan, Payment, and Refund, we can send a test request.
For that, first of all, we have to authorize.
We select the app from before and authorize that the API
key credentials be stored.
Now we can enter some consumer ID and some payment resource
identification, and execute the call.
This will return a payload, and give a developer an overview
of how the API works.
As you can see, Apigee helps accelerate the publishing
of APIs, making them ready for consumption
while keeping an eye on where they're being used.
All in all, this shows what's possible beyond Open Banking.
Namely, the opportunity to build new customer channels with more
control over the data, developers, and partners
to create a connected experience.
This enhances interoperability between traditional banking
data with an API ecosystem.
Thanks for listening in, and feel
free to read more about Open Banking solution
and what Apigee provides for APIs in financial services
at the link listed in the description below.