Open Banking from Original Bank Qorus Banking Innovation Awards 2016 - Winner

The Original bank was launched in April/2016 and it’s the first 100% full digital bank in Brazil. We were launched with no branches and with a 100% online process to open an account – no papers needed and full bank services available. Keeping the fast pace to present innovations to the market, the Original Bank is the 1st bank in Latin America to open its APIs to 3rd party developers. The project was conceived to bring the Fintech speed to our service delivery, allowing partners to implement financial services integrations with any 3rd party application, in a fast and secure way. The conceptualization phase of this project involved a lot of benchmark research to decide the best overall user experience. Most of our inspirations were from outside of the bank sector. Developers platforms from Google, Facebook and Stripe were used to understand the most important functionalities and the best structure to the API documentation. The project was developed by the innovation team in partnership with the IT and the Security teams in 12 months. The Open Banking allows 3rd party developers to access the API documentation through https://developers.original.com.br, along with a sandbox they can use for experimentations, and finally, the whole process to submit applications to analysis can be done using the website. The project was launched with four APIs: Original Connect, Original Accounts, Original Investments and Original Payments, all detailed in the next section. Our first integration will be launched in October/2016 allowing Original clients to make peer-to-peer payments and shopping payments using a startup app called “PICPAY”.