Unity Small Finance Bank (Unity Bank), a modern banking institution, has partnered with IBM to centralize and secure its expanding Application Programming Interface (API) ecosystem, utilizing IBM Cloud Pak for Integration and the expertise of IBM Consulting in application management. This partnership bolsters the bank’s API-first approach and promotes swift innovation across hybrid cloud environments, aimed at improving customer experience and operational agility. As a result of this collaboration, Unity Bank has built a centralized API hub that efficiently manages both internal and external APIs within its hybrid cloud framework, which includes applications hosted on AWS and on-premises systems.
The API hub incorporates an API Gateway that ensures seamless integration among core banking systems, digital channels, and operational workflows, facilitating a 50% reduction in the time required to launch new APIs and features, as well as nearly a 30% enhancement in resolving API issues. The hub offers secure, standardized, and real-time access to critical business data, enabling third-party developers, fintech partners, and corporate clients to create value-added services that utilize core banking capabilities—leading to hyper-personalized experiences and tailored product suggestions. By linking existing applications and data regardless of their location, the bank is maximizing the potential of its digital assets, thus delivering greater innovation, speed, and value to its customers.
“Our aim at Unity Bank has consistently been to simplify banking through technology. With IBM’s assistance, we now possess a robust and secure application framework that enables us to innovate more rapidly, scale efficiently, and address customer demands promptly. This transformation allows our teams to concentrate on developing unique customer journeys instead of dealing with complicated integrations,” stated Yusuf Roopawalla, Chief Information Officer at Unity Small Finance Bank. “In a fast-changing market, the capability to connect systems, applications, and data seamlessly is essential for competitive advantage.
By harnessing the powerful API management features offered by IBM Cloud Pak for Integration, Unity Small Finance Bank is equipping its IT teams to expedite integration, unlock business value, and enhance customer experiences,” commented Viswanath Ramaswamy, Vice President of Technology at IBM India & South Asia. “The banking sector in India is undergoing continuous transformation due to evolving market dynamics, shifting customer expectations, and advancing technology. This scenario necessitates that banks manage complexities related to various applications and APIs effectively. Unity Bank is uniquely and effectively addressing these challenges through collaboration, utilizing automation and centralized API governance to create a secure, scalable, and modern application backbone,” remarked Rishi Aurora, Managing Partner at IBM Consulting, India & South Asia.
In partnership with IBM Consulting and customer success teams, Unity Bank implemented IBM Cloud Pak for Integration on Red Hat OpenShift, taking advantage of automation to improve performance reliability, IT security, facilitate real-time analytics, ensure centralized visibility, and reduce the time taken to onboard new partners.