Legislative, market, and technology trends have created a digital transformation imperative in financial services. Catalyst Accelerator for Banking includes pre-built APIs and a prescriptive architecture to help IT teams jumpstart the development of common banking applications and provides a foundation for 3x faster project delivery.
In addition to providing pre-built APIs, Catalyst Accelerator for Banking includes a model for API-led connectivity in banking that promotes asset reuse and self-service. In the below architecture, we’ve abstracted data from complex banking systems like Temenos and AS400 into a canonical model that is represented via a set of Open Bank REST APIs. Then, we build experience APIs that provide better experiences for both customers and API consumers.
System APIs abstract away the complexity of core banking systems of record from the data’s end user, while providing downstream insulation from any interface changes or rationalization of those systems.
Process APIs decouple business processes that interact with and shape data from the source systems where the data originated. For example, the “process a payment” contains logic that is common across multiple entities, which can be called by product, geography, or channel-specific parent services.
Experience APIs are the means by which data can be reconfigured so that it is most easily consumed by its intended audience, all from a common data source, rather than setting up separate point-to-point integrations.
Give it a try and if you have questions or feedback, let us know at firstname.lastname@example.org.