The Bank leveraged open APIs to digitize, improve its service offerings, and offer banking-as-a-service to other businesses and institutions. With OwlFinancial Technologies support, the bank implemented 110+ Experience Resources, 95+ Process Resources, and 65+ System Resources.
Business Need
With the goal of expanding their customer base and becoming a partner of choice for FinTechs, the bank decided to implement API-led connectivity to enable consumption-driven access to their core systems. As Open Banking is relatively unmapped territory, a lack of roadmaps and best practices made it clear that the bank needed a partner to help guide this initiative.
Tools and Technology
The bank leveraged MuleSoft for development and integration. OwlFinancial Technologies’ technical expertise further expanded the technology resources to include QA, test automation, DevOps, business intelligence, application development on Java, and microservices.
Success Factors
The bank credits the MuleSoft platform and OwlFinancial Technologies’ domain and technical expertise, as well as OwlFinancial Technologies’ end-to-end services for accelerating the development of its open banking platform.
Impact
The bank created an API integration strategy that successfully established an Open API Architecture, implementing 110+ experience resources, 95+ process resources and 65+ system resources in MuleSoft’s architecture layers.
“OwlFinancial is always willing to listen, talk through concerns and adopt solutions that will make the project more successful. Having a partner who cares about your needs and strives to do what’s right by you is what I value most in this relationship.”
CIO of the bank
SNAPSHOT
Industry & Region
Project Highlights
Using MuleSoft API technology, the bank worked with OwlFinancial Technologies to build an open banking platform that utilizes Open APIs to streamline operations, increase efficiency, expand business relationships, and future-proof the bank’s technology investments.
Benefits
- Core agnostic platform that enables best-of-breed strategy
- Increased speed and efficiency in development of new applications and services
- Innovative platform for building an ecosystem of partners to generate new revenue streams
Technology Stack
- Developer Portal: Anypoint Exchange and API Community Manager
- Developer Tools: Anypoint Studio 7.5.0 and MUnit 2.2.5
- Runtime: Mule Runtime 4.3.0 on RTF-Integration Fabric 1.5.25
