OpenLegacy to Power Standard Chartered Bank Korea’s API Factory

OpenLegacy, a pioneer in digital-driven integration for core legacy systems, has partnered with Standard Chartered Bank Korea (SCB Korea) to provide system APIs from its mainframe core banking application. Given encouraging results, both teams have joined forces in the midst of a full-scale implementation to accelerate the digital transformation.

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“As the bank embarks on a digital journey to modernize our platforms, it is critical that we leverage new technologies to ensure we stay relevant in this competitive space,” Jason Ki, Senior Vice President, Technology & Innovations at SCB Korea. “We are excited to partner with OpenLegacy to bring next-level digital integration for our banking services in South Korea.”

Critical to the explosion of the Internet, APIs have facilitated the seamless sharing of information and enabled the large-scale shift from monolithic core applications to a microservices-based architecture. In the age of internet banking, legacy banks need to find fast, efficient, and cost-saving methods to successfully integrate APIs to deliver the types of digital services consumers have grown accustomed to. With the setup from OpenLegacy, the bank can deploy more consumer-geared services with shorter time to market. The consumer experience from Internet banking or in-branch services can therefore be enriched, ultimately leading to higher customer satisfaction with the bank.

OpenLegacy’s automated API-generation tools accelerate the adoption of open banking and digital transformation. OpenLegacy’s composable integration technology enables SCB Korea to extend its business-critical core banking functionalities to the internet banking service in order to address the evolving needs of its customers.

Joseph Wong, General Manager of Asia Pacific and Japan at OpenLegacy, added “We're delighted to team up with Standard Chartered to better serve their customers. The power and speed of our API solution was well demonstrated in a difficult operating environment during the pandemic. We look forward to growing the partnership throughout Asia.”