SCB Korea will leverage OpenLegacy’s mainframe core banking application. Credit: Free-Photos from Pixabay.

Standard Chartered Bank Korea (SCB Korea) has teamed up with OpenLegacy on API integration of core banking platforms.

SCB Korea will leverage OpenLegacy’s mainframe core banking application to extends business-critical core banking functionalities to the internet banking service.

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OpenLegacy claims that its automated API-generation tools are designed to accelerate the adoption of open banking and digital transformation.

The firm added that APIs facilitate the sharing of information and enable the large-scale shift from monolithic core applications to a microservices-based architecture.

SCB Korea senior vice president technology & innovations Jason Ki said: “As the bank embarks on a digital journey to modernize our platforms, it is critical that we leverage new technologies to ensure we stay relevant in this competitive space.

“We are excited to partner with OpenLegacy to bring next-level digital integration for our banking services in South Korea.”

OpenLegacy general manager of Asia Pacific and Japan Joseph Wong said: “We’re delighted to team up with Standard Chartered to better serve their customers. The power and speed of our API solution was well demonstrated in a difficult operating environment during the pandemic. We look forward to growing the partnership throughout Asia.”

Earlier this year, SCB Korea tapped Solace to enhance its online banking platform Straight2Bank (S2B).

Openlegacy counts Citi, Liberty Mutual, FIS as well as BNP ParibasCardif as its clients.

In January 2020, Japan’s SBI Holdings made a $20m investment in Openlegacy Technologies.