Ivory Service Architect Enables Open Banking

by | Aug 31, 2020

As the open banking movement continues to spread across the globe, some financial services companies are viewing it as a threat to traditional banking models. While these companies are delaying adoption, successful banks will use it as an opportunity to monetize and build closer linkages to both corporate and consumer customers.

However, even the most progressive institutions face challenges as they enable open banking. Banks need to be mindful of security issues, particularly when rapidly creating APIs. Additionally, the reliability of these APIs can be problematic, with some experiencing only 97% availability. Considering the holy grail of reliability is five-nines reliability or 99.999% availability, some organizations still have a ways to go.

GT Software’s CRO, Dr. Alex Heublein, joins the Red Hat X Podcast Series to discuss how the partnership between Ivory Service Architect and Red Hat’s OpenShift helps banks successfully adopt open banking. The OpenShift platform brings the scalability, security and reliability that is often seen in the mainframe environment, while Ivory is a completely no-code, drag-and-drop mainframe integration solution that quickly creates Smart APIs. Together, these tools can combat the obstacles facing financial services companies when adopting open banking.

Click here to view the Red Hat X Podcast Series about open banking challenges and opportunities.