GT Software unveils Open Banking SmartBridge
GT Software, a mainframe modernization software company, is launching the Open Banking SmartBridge solution, providing banks and financial institutions with a quick and secure way to connect their legacy IT systems to third-party apps and services.
The Open Banking SmartBridge brings speed, flexibility and compatibility to the mainframe by:
- Allowing users without mainframe experience to build and maintain complex integrations through a drag and drop platform
- Reducing the labor required to create APIs by up to 90%
- With a single API, connecting legacy applications to multiple external systems, including anti-money laundering, fraud detection services and other third party banking standards
The SmartBridge easily connects core systems with open banking standards and APIs. This allows banks to integrate FinTechs and their legacy systems using industry-standard APIs without typical developer resources or timeframes.
For inbound calls, third-parties have instant mainframe access to look up balances or verify account information and initiate transactions directly from legacy apps.
SmartBridge also allows for real-time outbound calls from COBOL and PL/I applications to KYC, AML and fraud-detection systems without writing any code.
The Open Banking SmartBridge works in real-time to:
- Allow legacy banking systems the power to initiate calls or call out to FinTechs and third parties
- Use drag and drop workflows to match API granularity with developers’ needs
- Create APIs using industry-accepted specifications and standards, including OpenAPI document ingestion
- Add or replace fraud detection layers and other external calls without touching legacy code
- Protect valuable consumer data with mainframe security integration
- Deploy the API runtime on a mainframe or cloud containers like Red Hat Open Shift to ensure elastic scalability
- Enable cross-functional dev teams through low code application platform
For more information about this release, visit www.gtsoftware.com.