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API centric banking is almost commonplace now, with the likes of Monzo, Starling Bank and Revolut (all banks) and banking service aggregators such as bud becoming household names. This change, partly driven by the API centric economy and partly because of PSD2 and Open Baking regulations is fundamentally changing the way banks are required to manage their internal applications and related security and resilience.
Before PSD2, many have traditionally been stuck with a 2-speed IT problem, i.e. trying to align old / legacy systems that are not always the fastest to work with external systems and requests from competitors and challenger banks, who typically are running much faster systems and interfaces than the banks themselves.
One way of making this work at the banks end, which can be architected to improve resilience is by combining integrated API Management and Message Que (MQ) hubs to create a buffer layer around older technology stacks and simultaneously bring in the ability to manage and control the inbound flow of requests.
Fiorano technology, commonly used by Banks and Financial Institutions all over the world supports this approach through Fiorano MQ and Fiorano API Management products configured in a high availability format to meet resilience requirements.
Fiorano API Management: Fiorano API Management offers a range of capabilities, including protocol transformation, mobile backend-as-a-service (MBaaS), standards-based access management, version management, API rate limiting, metering & analytics to help you monitor and if necessary prioritise and control the incoming flow of requests from the external world. Fiorano API Management also provides contextual analysis and visibility into API initiatives and associated digital assets to help drive developer and user engagement.
Fiorano MQ: Fiorano's enterprise messaging backbone seamlessly integrates heterogeneous IT systems improving operational efficiency, business agility and performance. With comprehensive support for standards-based communication, connectivity and transformation, the FioranoMQ JMS server minimizes proprietary dependencies while providing a powerful communication backbone that can be extended easily, allowing real-time delivery of data spanning multiple applications, platforms, partners and customers.
API centric banking is almost commonplace now, with the likes of Monzo, Starling Bank and Revolut (all banks) and banking service aggregators such as bud becoming household names. This change, partly driven by the API centric economy and partly because of PSD2 and Open Baking regulations is fundamentally changing the way banks are required to manage their internal applications and related security and resilience.
Before PSD2, many have traditionally been stuck with a 2-speed IT problem, i.e. trying to align old / legacy systems that are not always the fastest to work with external systems and requests from competitors and challenger banks, who typically are running much faster systems and interfaces than the banks themselves.
One way of making this work at the banks end, which can be architected to improve resilience is by combining integrated API Management and Message Que (MQ) hubs to create a buffer layer around older technology stacks and simultaneously bring in the ability to manage and control the inbound flow of requests.
Fiorano technology, commonly used by Banks and Financial Institutions all over the world supports this approach through Fiorano MQ and Fiorano API Management products configured in a high availability format to meet resilience requirements.
Fiorano API Management: Fiorano API Management offers a range of capabilities, including protocol transformation, mobile backend-as-a-service (MBaaS), standards-based access management, version management, API rate limiting, metering & analytics to help you monitor and if necessary prioritise and control the incoming flow of requests from the external world. Fiorano API Management also provides contextual analysis and visibility into API initiatives and associated digital assets to help drive developer and user engagement.
Fiorano MQ: Fiorano's enterprise messaging backbone seamlessly integrates heterogeneous IT systems improving operational efficiency, business agility and performance. With comprehensive support for standards-based communication, connectivity and transformation, the FioranoMQ JMS server minimizes proprietary dependencies while providing a powerful communication backbone that can be extended easily, allowing real-time delivery of data spanning multiple applications, platforms, partners and customers.
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© 2024 Fiorano Software and Affiliates. All Rights Reserved. Privacy Statement | Terms of Use
©2024 Fiorano Software and Affiliates. All Rights Reserved. Privacy Statement | Terms of Use