National Bank of Bahrain: Open API Banking
Client: National Bank of Bahrain
Category: Banking, financial services and insurance (BFSI)
Client Description:
NBB is the first indigenous bank in Bahrain. The bank is rated highest among Bahraini commercial banks and in the top five regionally.
The Bank looks forward to innovations in Lending, Investing, Personal Finance, Retail Banking, Regulatory compliance, and Mobile payments.
Business Need:
NBB intends to improve, inform, and further the value of its analytics and data securely.
Initiated journey of native solutions or partnering with other FinTech firms that offer innovative services to directly benefit and help enhance customer engagement, Increase Digital Revenue, and Enhance Service Offerings.
Solution:
The investment made by the National Bank of Bahrain in the acquisition of the IBM API Management Solution provides a robust platform for the National Bank of Bahrain to embark on this Business Transformation journey.
The business advantage of bringing SOA (National Bank of Bahrain Online Middleware) and the API management together is that this approach provides a deep and robust integration all the way from the Internet of Things to enterprise back-end systems.
Results:
Expand revenue channels – Capture new revenue sources through monetization of an organization’s API program.
Drive innovation – Attract and engage developers through API socialization with enterprise governance built-in.
Securely unlock assets – Securely expose existing business services via APIs to new mobile, IoT, and web applications.
Gain insights – Gain insights into which APIs are having the largest impact on an organization’s API program.