API-led Integration Platform for Banks
Persistent Systems is a proven leader in delivering API and enterprise service bus (ESB) connectivity solutions that help the enterprise establish foundational digital capabilities for real-time decision-making and actionable insights. The company has deep experience designing and developing solutions using TIBCO products and employs hundreds of TIBCO-certified integration specialists in North America and India.
Challenge
Banks need access to real-time data to provide a superior customer experience and to manage efficiently. A single bank uses a large number of siloed applications deployed on-premises and in cloud and hybrid environments. Without integration, the large datasets these applications generally cannot be used to provide a single, real-time view of the business and enable valuable business insights. Banks also have a growing need for fast access to other real-time data for collaborating with external partners.
Partner Solution
To address these challenges, banks need secure APIs to connect applications via a middle service layer that enables real-time access to data and seamless communications across disparate systems. The Persistent Systems banking solution, built on TIBCO BusinessWorks™ Container Edition software, offers the flexibility banks need to change any individual component in their architecture without affecting others.
For example, a bank can replace its core banking system without having to update its integrations. The secure API layer, developed with TIBCO Cloud™ API Management software (formerly TIBCO Cloud™ Mashery®, connects banks with their partners across various cloud platforms. TIBCO technology provides the required security layer as well as API lifecycle management.
Benefits
Benefits of the state-of-the-art API-led Integration Platform for Banks include:
- Rapid connectivity across the bank’s ecosystem
- Fast onboarding of new systems with zero interference to other integration components
- Intelligent routing between multiple core backend systems
- Seamless, standards-based data exchange between consumers and providers, based on ISO20022
- Support for open banking standards for digital banking
- Scalability to meet dynamic transaction needs
- Dashboard-based auditability of transactions flowing through the platform
