Delivering regulatory APIs for a UK Tier 1 bank in record time
Following the publication of the CMA’s final investigation report on the Retail Banking market, a set of reform recommendations were made to encourage the publication of banking APIs and the establishment of ‘quality of service’ comparators.
Our client, a UK Tier 1 bank, needed to deliver initial compliance with the CMAs API requirements across their Retail and Commercial banking operations. The mandated APIs included public (product) information and private (account) data.
To avoid regulatory sanctions the project team only had 5 months from on-boarding to the delivery of a full production system. This had to be achieved while working in the new environment of Open APIs and managing multiple sub-businesses, each with their own set of staff, systems and priorities.
Applying experience gained from delivering API platforms for non-bank clients, and from successful delivery programmes at other global Tier 1 banks, enabled our team to pre-construct a comprehensive blueprint for the entire engagement.
We worked closely with our client to install security policies, self-service on-boarding, developer portals and a sandbox. Our experience empowered us to accelerate the bank’s first use of Amazon Web Services, delivering a beta production system 3 months ahead of schedule, and saving significant budget.
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