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Build the foundation for business collaboration: Integrate Open APIs with 21 banks.

Timeline

2 Months (2019/07~10)

Role

Feature Planning

API Specification

Quality Assurance

Goal

Business collaboration

With

UI Designer

Engineering Team

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Overview

Drove regulatory compliance and strengthened partnerships through open banking integration.

To enhance the trust of both users and financial institutions in Moneybook, we actively participated in the open banking policy promoted by the Financial Supervisory Commission (FSC).
 
As the Product Manager, I took the initiative to establish effective communication channels with financial institutions and relevant regulatory bodies, ensuring that our product design complied with policy requirements. Throughout this process, I not only needed to stay updated on the latest regulatory developments, but also had to translate these regulations into concrete product requirements, while ensuring a mutually beneficial situation with financial institutions. Additionally, I closely collaborated with the development team to ensure that the requirements were successfully deployed and launched within the given timeline.

The success of this initiative not only helped Moneybook adapt to the open banking policy but also opened up new collaboration opportunities with major financial institutions, strengthening Moneybook's influence and market competitiveness in the fintech industry.

Background

Moneybook selected as the 1st TSP to showcase Taiwan’s phase 1 open banking initiative.

The Financial Supervisory Commission of Taiwan (FSC) started to promote open banking policy in 2017 and instructed the Financial Information Service Company (FISC) to implement a 3 phases approach of Open API.

 

Regarding the phase 1 - public information, FISC planned to hold a launch conference in Sep 2019.​ In order to showcase the scenario of Open API at the conference, Moneybook has been invited by FISC to serve as the first third-party provider (TSP).

Challenges

Delivered phase 1 open API integration and bank partnerships within 2 Months.

​In order to participate in the phase 1 Open API launch conference, the following items need to be completed within 2 months:

  • Plan and complete the development of the features of the phase 1 Open API.

  • Contact banks for the cooperation as much as we can, finishing the system integration testing (SIT) and user acceptance testing (UAT) within 2 months.

My Role

Led open API optimization, bank engagement, and product delivery under tight deadline.

  • Provide optimization suggestions of the phase 1 Open API specification to FISC to improve the usability for TSPs.

  • Seek opportunities for the phase 1 Open API cooperation with 21 banks.

  • Plan the scenario and feature of the phase 1 Open API and support the development team to complete the features within the deadline.

Key Tasks

Optimized internal-external collaboration by clarifying roles and building testing tools to test the correctness of API fields for banks.

Results

Drove 80% user growth and solidified Moneybook's position as leading open banking partner.

  • With the release of related news, Moneybook's visibility to end users increased, causing the App's monthly download to grow by 80% after the first phase Open API service went online.​

  • Moneybook become the top TSP with the largest number of cooperative banks and opens up further cooperation opportunities with banks.

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