Barry O’Donohoe, Raidiam’s CEO and Co-Founder, reflects on an inspiring few days at MWC 2024.
This year saw Raidiam’s first foray into attending the renowned event, MWC (Mobile World Congress). For anyone not familiar with it, this is a huge conference for the connectivity industry – both in terms of its size and its importance.
So what were my key takeaways from what I saw and heard at MWC 2024?
Firstly, the breadth of diverse discussions was staggering. Topics covered ranged from robots, drones and IoT, to immersive displays, next-gen smart devices, AI, VR, AR and XR, and everything in between. There was also LOTS of network stuff.
1. GSMA Open Gateway API Programme
But mostly, I was intrigued by the global industry collaboration that is the GSMA Open Gateway API Programme. Launched one year ago, it now boasts 65 per cent of operators across the world: 47 mobile operator groups representing 239 mobile networks are now signed up to the initiative which aims to unlock the full potential of 5G networks through commercialised APIs – the possibilities are truly awe-inspiring!
2. Open Gateway DevCon
MWC 2024 included the 2nd Open Gateway DevCon with speakers from the CAMARA/Linux Foundation who are driving the API standards effort.
This will ensure a single common framework of network APIs designed to foster greater global cross-industry collaboration. A single common network API designed to provide universal access to operator networks for developers and cloud providers. This will accelerate the delivery of new network-powered apps in every industry which can be deployed quicker, anywhere on any network.
3. Raidiam and telco Open Gateway APIs
So why are Raidiam tailing telcos’ Open Gateway APIs you may ask when many may argue that our credentials are in the Open Banking and Open Finance space?
Raidiam is more a data tech firm than a fintech one – the outcomes and value that our products deliver are both data agnostic and sector agnostic. Open Banking has just been the beginning and we’ve already seen the capabilities stretch beyond this to digital identity, payments, account data, cards, investments and insurance APIs. This is where the regulations have so far focused, and therefore the mandatory investment and compliance mandates, that have fuelled (some) competition and innovation in a stale retail banking market. It’s generally regarded to have worked well but with huge potential still to reap.
The broader reach of Open Finance has spurred the creation of countless new innovators working harder for customers to build on standards-based APIs – reducing cost, increasing inclusion, improving access to more seamless digital experiences to manage their financial lives.
That is why we are so interested in telco Open Gateway APIs and wanted to be part of the MWC community this year. We can see the huge opportunities in an industry that is also embracing the possibilities that a common Trust Framework can bring.
We have created the unique ecosystem capabilities and open standards to foster and enable scaled national and multi-national API ecosystems to flourish. Open Gateway APIs will need exactly the same patterns as the Open Banking / Finance markets which are now more than six years old in the UK, five in the EU, three in Brazil, Australia and more besides. Our involvement in those ground-breaking initiatives has gained us considerable experience and expertise, all of which is entirely transferrable to the telecoms sector and will lead to more cross-sectoral Smart Data propositions as envisaged under the UK Data Protection and Digital Information Bill.
Critical success factors include:
- Having the highest grade security standards to ensure that the powerful APIs are resistant to threat actors – The OpenID Foundation FAPI profile is the dominant global standard that is mature, market tested and secure enough for high assurance data sets.
- Rigorous conformance and certification of participants to ensure all players closely adhere to the technical standards and that the all-important ‘trust’ remains strong.
- Developer-focused ecosystem capabilities to enable seamless onboarding, software app creation, credential management, and participant and data discovery.
- A commercial model that works for network operators and developers / tech firms enabling more broad-based innovation and competitive propositions for the end customers – not just those with the deepest pockets.
GSMA Directory General Mats Granryd welcomed the progress made over the first 12 months and cited research by McKinsey indicating the initiative holds the potential to “unlock significant value for the telecommunications industry and businesses using 5G networks over the next six years”. McKinsey forecast there is a potential $300 billion market opportunity waiting to be unlocked by 2030 “if operators can expose more of their network APIs and innovations to enterprise developer and cloud provider communities”.
So collectively we have the motivation, the incentives and the capabilities in place to make this a reality. Let’s crack on with the job.
Barry O’Donohoe is CEO and Co-Founder of Raidiam.
