Federal Bank’s Implementation of IBM API Connect - Use Case
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DESCRIPTION
Federal Banks Implementation of IBM API Connect - Use Case
Summary
The Indian banking sector has long been dependent on legacy technologies that have proven to be successful in the past. However, with a dynamically changing business climate and more recently the COVID-19 pandemic, it has become necessary for these players to step up their game and invest in smart technologies that can help them remain competitive, especially as excessive dependence on legacy solutions and processes have proven detrimental to business and reputation. As the digital banking industry future-proofs its businesses and adopts practices to keep pace with competitors and comply with the changing business climate, banking service providers are acknowledging the importance of modern technology solutions. Technology providers are now offering API solutions that businesses can leverage to power the digital transformation of their operations.
An example of one such use case is Federal Banks implementation of IBMs API Connect solution, which was aimed at rapid microservices development. The API platform enabled Federal Bank to connect with partners quickly and easily as well as reduce downtimes.
This report explores Federal Banks implementation of IBMs API Connect solution, which was aimed at rapid microservices development. The report identifies the main challenges Federal Bank faced with earlier methods, highlights the deployment of IBMs API Connect Solution to address the challenges, and explores the benefits it offered as well as the resulting outcomes.
Scope
- Federal Banks legacy IT infrastructure prevented it from integrating easily with different fintech companies and monitoring the business performance of its various partnerships.
- The legacy infrastructure also had poor disaster recovery abilities.
- IBMs API Connect solution enabled the quick development of APIs, offered high disaster recovery functionalities, and lowered downtimes.
Reasons to Buy
- Gain insights into Federal Banks implementation of the API Connect solution.
- Gain insights into the major challenges for Federal Bank.
- Gain insights into the solution deployment.
- Gain insights into the key benefits achieved by Federal Bank.
Summary
The Indian banking sector has long been dependent on legacy technologies that have proven to be successful in the past. However, with a dynamically changing business climate and more recently the COVID-19 pandemic, it has become necessary for these players to step up their game and invest in smart technologies that can help them remain competitive, especially as excessive dependence on legacy solutions and processes have proven detrimental to business and reputation. As the digital banking industry future-proofs its businesses and adopts practices to keep pace with competitors and comply with the changing business climate, banking service providers are acknowledging the importance of modern technology solutions. Technology providers are now offering API solutions that businesses can leverage to power the digital transformation of their operations.
An example of one such use case is Federal Banks implementation of IBMs API Connect solution, which was aimed at rapid microservices development. The API platform enabled Federal Bank to connect with partners quickly and easily as well as reduce downtimes.
This report explores Federal Banks implementation of IBMs API Connect solution, which was aimed at rapid microservices development. The report identifies the main challenges Federal Bank faced with earlier methods, highlights the deployment of IBMs API Connect Solution to address the challenges, and explores the benefits it offered as well as the resulting outcomes.
Scope
- Federal Banks legacy IT infrastructure prevented it from integrating easily with different fintech companies and monitoring the business performance of its various partnerships.
- The legacy infrastructure also had poor disaster recovery abilities.
- IBMs API Connect solution enabled the quick development of APIs, offered high disaster recovery functionalities, and lowered downtimes.
Reasons to Buy
- Gain insights into Federal Banks implementation of the API Connect solution.
- Gain insights into the major challenges for Federal Bank.
- Gain insights into the solution deployment.
- Gain insights into the key benefits achieved by Federal Bank.
TABLE OF CONTENTS
Overview
Introduction
Challenges
Solution Deployed
Benefits
Future Perspective
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