Key takeaways
- Unity Bank reduces time-to-market for new APIs by 50% through IBM's centralized API hub.
- Establishes a secure API ecosystem enhancing integration between banking systems and digital channels.
- Enables third-party developers to create value-added services leveraging core banking functionalities.
- Achieves nearly 30% improvement in resolving API issues, enhancing operational efficiency.
- Supports rapid innovation and customer-centric solutions in India's evolving banking sector.
The Mumbai-based Unity Small Finance Bank has collaborated with IBM to centralise and secure its Application Programming Interface (API) ecosystem.
Using the IBM Cloud Pak for Integration and the expertise of IBM Consulting in application management, Unity Bank has established a centralised API hub to manage internal and external APIs across its hybrid cloud infrastructure. The announcement said Unity Bank deployed IBM Cloud Pak for Integration on Red Hat OpenShift.
The API hub is said to leverage an API gateway that facilitates ‘smooth integration between core banking systems, digital channels, and operational workflows’. The hub also provides standardised, secure and real-time access to business-critical data.
This enables third-party developers, fintech partners, and corporate clients to build value-added services that leverage core banking functionalities, the company said.
Besides, the API hub is claimed to ‘drive a 50% reduction in time-to-market for new APIs and features, and a nearly 30% improvement in API issue resolution.’
“With IBM’s support, we now have a powerful, secure application backbone that allows us to innovate faster, scale effectively, and respond to customer needs in real time. This transformation enables our teams to focus on building differentiated customer journeys rather than managing complex integrations,” said Yusuf Roopawalla, Chief Information Officer, Unity Small Finance Bank.
Rishi Aurora, managing partner at IBM Consulting, India and South Asia, said that India’s banking sector, which is rapidly evolving due to the emergence of AI and new technologies, necessitates that banks handle the complexities related to applications and APIs.
“Unity Bank is addressing this uniquely and effectively through the collaboration, by leveraging automation and centralised API governance to build a secure, scalable, and modern application backbone,” he added.
