Japan’s SBI Holdings has made a $20m investment in Openlegacy Technologies, which supports API integration of core banking platforms.
SBI will now recommend using the OpenLegacy API platform that enables regional banks to undergo digital transformation.
This aligns with the Japanese strategy to support regional revitalisation.
“We will continue to actively develop next-generation industries and enhance the enterprise value of the venture companies in which we invest,” SBI said.
OpenLegacy automates API creation, optimisation, testing, and deployment for core (legacy) systems.
The firm is said to facilitate the creation of APIs without the expenses, time, resources and risk that is usually associated with the process.
It aids the creation of microservices-based APIs for firms, enabling them to extend their core platform to the web, mobile, and cloud.
The company’s technology is said to do away with complex middleware and directly link to the core platform. It supports on-premises and in the cloud deployment.
Referring to Openlegacy, SBI noted: “Using this platform, financial institutions can easily achieve API integration with the smartphone money transfer app “Money Tap,” supplied by Money Tap Co., Ltd., a provider of next-generation financial infrastructure.”
Openlegacy counts Citi, Liberty Mutual, FIS as well as BNP ParibasCardif as its clients.