Banking and Financial Services

A Case Study On A Major Bank In The Philippines

Background

SIDGS engaged with a leading Bank in the Philippines to help establish an API practice with a vision to enable the Bank to offer more digital capabilities and solutions to their Commercial and Retail Banking customers. To enable this, the Bank made significant investments in technology (cloud services) and were seeking a strategic-partner to help execute an aggressive maturity plan. Some key objectives of this program included: 

  • Increase in digital user base to 3 million plus customers within 2 years 
  • Deliver the Bank’s first API Marketplace to enable their commercial customers to leverage API’s for Money movement, ACH, Account management, and other services 
  • Meet strict regulatory/compliance requirements via nimble solution delivery 
  • Future-proof their digital assets by adapting to the Open Banking Standards 
A Case Study On A Major Bank In The Philippines - SID Global Solutions

The Problem

SIDGS led a critical initiative to establish an API Catalog, accelerating the Bank’s digital asset and solution delivery to customers with speed and agility as key requirements. Over the years, numerous strategic initiatives resulted in a complex portfolio of 900+ APIs deployed across both cloud and on-premise infrastructure. Unfortunately, inconsistent design and development standards led to challenges, including prolonged project timelines, costly solutions, operational issues, and frustration within the Bank’s business community.

The Solution

SIDGS collaborated with architects, API designers, and the executive leadership team to create a vision for the Bank’s future state. To address the challenges posed by the complex API portfolio and reach the desired target state, SIDGS proposed the use of BIAN as a foundational framework, adopting an outside-in approach to API design. 

The first step involved establishing a clear and straightforward API design process, anchored on the BIAN model, to define the Bank’s Service landscape. Subsequently, the team of API designers and technical leads worked on developing API specifications for each business domain identified through various strategic initiatives. 

To ensure the API specifications were future-proof and compliant with open banking standards, the team relied on BIAN’s Semantic API Catalog, which also incorporated other relevant Open Banking standards such as PSD2, IFX, and ISO, among others. 

By adopting an API-first mindset, the team pursued the development of API specifications that served multiple objectives, including but not limited to… (further details or objectives can be added here).  

  1. API portfolio rationalization 
  2. Open Banking compliance 
  3. Robust API security constructs 
  4. Future proof design by incorporating standard attributes into both the header and body of the Swagger specs. 

Next, the team focused on building a strong data abstraction layer by architecting a series of domain-driven microservices that helped deliver data in a secure, efficient and infra-independent manner.  

Finally, all API’s designed were deployed on an industry-leading API Gateway and made consumption ready by building out both an internal and external developer portal. A lot of emphasis was placed on proper API documentation and leveraged capabilities like “try me” to minimize the need for long functional analysis and design processes. This has cut down the end-to-end delivery time for all initiatives that require the use of API’s.

A Case Study On A Major Bank In The Philippines_3 - SID Global Solutions

Our Solution In Action – Commercial API Banking Products

The target state solution proposed has comprehensive BIAN implementation with an external and internal developer portal showcasing the user persona-based data analytics dashboards that comprehend an API Gateway with APIGEE platform integration.

The Solution Use Case: Commercial Banking payment management solution.  

The first use of the solution framework was adapted by the commercial banking division. A catalog of API’s covering: 

  • Virtual Account management 
  • Payments 
  • ACH Operations 
  • Card clearance 

The solution will deliver the bank, their first external-facing developer portal along with significant process enhancements.

The Benefits

The solution delivered by SIDGS will help the bank accomplish several strategic goals including: 

  • New revenue channels through the digital solutions  
  • Reduced business operations overhead due to automation and self-service capabilities 
  • Time to market is reduced significantly 
  • Reduced IT operations overhead. 

Reach out to our Sales team customer-success@sidgs.com if you want us to help you achieve similar goals.

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