DIGITAL BANKING

Zach Burks explains that integrating third-party services into Mintable ’ s digital ecosystem is relatively straightforward due to its advanced backend architecture , which he compares to Amazon Web Services . “ Integrating thirdparty services isn ’ t much of a challenge for us because Mintable ’ s systems are built similarly to Amazon Web Services , operating seamlessly in the backend ,” he explains . This allows for a smooth process , whether they are incorporating legacy financial systems or mobile apps . “ Whether integrating with financial systems using legacy code or a mobile app , it ’ s as simple as making an API call .”

Ecosytems and innovation “ Our Coreless Banking initiative was designed to integrate existing banking infrastructure into the digital open banking ecosystem . We launched the initiative as part of one of our working groups , in collaboration with banks and

technology providers like HSBC , Zafin , IBM and JP Morgan Chase ,” says Hans .

“ Coreless banking empowers banks to select the software vendors needed to obtain the best application area solution , without concerns about interoperability and being constrained to the service providers that share the same technical language . By integrating proprietary messages into one standard message model , it helps to speed up legacy banks ’ path to digitisation and standardisation by adopting a ‘ plug-and-play ’ solution . It also enhances the speed these banks can deliver tailored , high-quality services in line with the latest technology for their customer base .”

Rory Yates also highlights how ecosystem-based models act as a catalyst for innovation by facilitating the implementation of new technologies and services on a large scale . According to Rory , innovation in banking is not merely about conceptualising ideas in a controlled lab environment but about “ achieving it at scale by creating that value in an employee or a customer outcome .” fintechmagazine . com 93