In today’s financial world, banks need to digitally transform to remain relevant. Consumers live on their phones so banks need to offer their services on these devices and offer a full suite of digital services. It’s no easy task for well-established institutions that have been operating successfully in the non-digital space for so long. Banks need to put their customers first by offering them personalized digital financial services focused on convenience and security, and meeting customers’ needs.
O-Bank, formerly Industrial Bank of Taiwan, approached TIBCO in 2016 with tight time constraints and lofty goals. Much of their process included building multiple digital services from scratch — a seemingly insurmountable task. They needed a stable, full-function platform that didn’t add to the complexity of their undertaking.
TIBCO was able to offer this and more. Stability, simplicity, and the loosely coupled structure made TIBCO products the right choice for O-Bank. They were able to use TIBCO BusinessWorks™ and TIBCO® Messaging to establish the foundation of their systems and transform themselves into what their customers need today. Using TIBCO, O-Bank is now able to deliver on mobile access for its customers, as well as their growing expectations of innovative, real-time experiences.
As the first digitally native bank, O-Bank now operates with fewer physical branches while continuing to deliver a full-featured user experience. They remain competitive while saving back-end costs by leveraging TIBCO products. They have also been able to meet the social and environmental standards required to be a certified B corporation and are the first publicly listed certified B corporation in Taiwan.
To learn more about O-Bank and their digital transformation journey with TIBCO, check out the full case study.