An embattled Japanese bank has invested in an innovative, -to digital relevance as solution that can digitally transform a sow’s ear into a silk purse
A Japanese bank with a focus on enhancing customer experience has opted for a solution that allows legacy banking systems to be quickly extended to the Internet and to mobile applications.
Shimane Bank, founded on 20 May 1915 and headquartered in Matsue, Japan, engages in commercial banking and leasing services. The 105-year old financial institution recently received US$23m in emergency capital, and it has recently invested in digitalization to stay relevant.
Partnering with OpenLegacy, a pioneer in digital-driven integration for core legacy systems, the bank can release new digital services faster and more efficiently even though it has not eliminated legacy infrastructure. With OpenLegacy technology, which is touted to connect directly to even the most complex legacy systems, the bank can bypass the need for extra layers of technology.
Furthermore, the new system can automatically generate application programming interface (API) plugins quickly, allowing the system to connect to modern API-based digital services and innovations to boost its agility.
Finally, the new features are deployed as standard microservices or serverless functions, giving the bank greater speed and flexibility in releasing new apps, features and updates within days instead of months—economically and with minimized resources.
Back in late 2019, a Proof of Concept was performed successfully, leading to the partnership to install a full-scale implementation to accelerate the bank digital transformation. This also marks OpenLegacy’s official entry into Japan.
Said Joseph Wong, General Manager, Asia, OpenLegacy: “We’re delighted to team up with Shimane Bank to better serve their customers. Shimane Bank’s customers are expecting to do more in today’s world and we provide the means to achieve this with speed, agility and cost savings. We look forward to a successful long-term partnership with the bank.”