Retail Multibanking Use Cases

The Retail Multibanking services can be split in two categories

• Read only services
• Data modification services

In simple Retail Multibanking, basic data from current accounts is displayed across banks, such as the account balance and the latest transactions. This overview can then be successively extended to other account types, such as electronic savings accounts and pension accounts (3rd pillar).

The display of data from company pension accounts (2nd pillar) would be the next possible step towards enriching the Retail Multibanking. Then, other customer assets such as shares, bonds, structured products among others can also be displayed, and the display can even be extended to insurance products.

This results in a holistic asset cockpit that provides the optimum basis for sustainable investment advice.

As far as the APIs are concerned, the banking side is already set so that three existing sources can be included:

• XS2A-API for current accounts, electronic savings accounts and pension accounts (3rd pillar)

• openPK-API for company pension accounts (2nd pillar)

• CustodyServices-API from OpenWealth for other customer assets such as shares, bonds and structured products

On the insurance side, no conceptual work has yet been done on an API that could provide information on the products that make up the customer's insurance cover. In view of the finite complexity of the insurers' product world, however, it should be possible to develop an API with read-only access to the required data objects at a manageable effort. As a first step, it would even be sufficient to be able to access databases that are only updated once a day, as the status of insured persons rarely changes. This data replica can then be supplemented at a later date with functionalities for incremental updating.