Business challenge

In today’s financial services industry, new regulations, unforeseen competition and evolving customer expectations are driving digital transformation and the move toward open banking models. Financial institutions seek fast, flexible ways to transform themselves while preserving their extensive investments in core systems.

Solution approach

The IBM Open Banking Platform is a software suite that helps accelerate a financial institution’s digital transformation through modular tools based on industry standards. An initial area of focus for the Open Banking Platform is the revised Payment Services Directive or PSD2. 

Bridge from core to cloud

Bridging core systems to the cloud, the IBM Open Banking Platform acts as a microservices layer on your existing environment enabling fast, low risk innovation.

Achieve PSD2 compliance

The IBM PSD2 Payment Solution works with the IBM Open Banking Platform to facilitate PSD2 standards-based payments from core banking systems.

Leverage an API Ecosystem

With APIs from IBM Financial Services and third-party Fintechs, financial institutions can rapidly and securely build next-generation apps.

Built on industry standards

The IBM Open Banking Platform is built on Kubernetes and guided by Banking Industry Architecture Network, Information Framework and other open banking standards.

Blogs

Capitalize on Open Banking as a catalyst for digital transformation

Adapting to the new Open Banking world can be an opportunity rather than an ordeal. It gives financial institutions the chance to open up legacy systems and harness APIs.

How banks use bank-as-a-platform to modernize apps with cloud

There’s a growing trend by clients to move their applications to the cloud, including their core banking applications. This movement – core to cloud – is essential for banks seeking to modernize.

How Open Banking will blow core systems out of the water

APIs and PSD2 will continue to dominate the banking agenda this year and beyond. The key difference with these topics is that they enable banks to innovate with the systems they already have in place.

Resources

Why Open Banking?

Open banking is leading to many benefits for financial institutions, including providing them with more opportunities to collaborate and partner with Fintechs.

Cross the chasm with IBM Open Banking Platform

An integrated system that leverages existing technologies and data to enable bank participation in the API economy.

Adopting new business models to drive future innovation

“Evolution of the API economy,” examines the forces driving API usage, as well as the potential business models and monetization strategies APIs can help create.

Events

IBM Experts are speaking at these events and look forward to meeting you in person.

Empire Fintech Conference

Join IBM to hear from those forging new trails in payments, blockchain, data, lending, robo-advisors, insurance tech, real estate and more.

IBM Think 2019

Join global visionaries, technologist, and innovators to connect with experts and learn how the latest technologies can make your business more efficient and secure. 

Sibos & Money20/20

Join IBM at Money20/20 to learn about the latest innovations in payments, data, mobile, commerce and financial technology.

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Meet our experts

Tom Eck

Tom Eck

CTO Industry Platforms, IBM Industry Platform

Chae An

Chae An

Vice President, CTO, Financial Services Sector IBM Global Markets (WW)

Rajiv Chodhari

Rajiv Chodhari

Vice President, Financial Services, Industry Platform