BIDV uses IBM API Connect® to enhance quality of open banking service

Friday, Aug 25, 2023 12:13

Illustrative Image. — Photo courtesy of BIDV

The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) announced its selection of IBM API Connect® as the platform to build a new application programming interface management system to maximise the digital banking experience for its clients.

IBM API Connect® is an API platform (Application Programming Interface) that is complete, modern and intuitive, allowing one to securely create, view, manage, and develop businesses from APIs on cloud types that will deliver digital applications and drive innovation for customers.

Using IBM API Connect®, BIDV can implement an integrated network from which the bank can offer API services to fintech companies and quickly establish connectivity to provide new services to its customers. The API-supported architecture enables BIDV to expand its ecosystem for different types of customers, such as retail consumers, large businesses, or small and medium enterprises, through the Open API system. By applying open banking services, BIDV can easily exchange information with its partners and offer improved services to its customers.

"BIDV has selected IBM API Connect® for its stability and high reliability, which has been successfully applied at many banks across the globe. IBM has been a trusted partner of BIDV for many years and the choice of IBM API Connect® is an important part of cooperation in support of the successful implementation of the digital transformation strategy at BIDV and to deliver higher quality experiences to its customers," said Director of the Centre for Digital Banking Development Nguyễn Chiến Thắng.

“APIs is the heart of digital banking services. The IBM APIs architecture helps BIDV to connect, automate, and digitally transform businesses, and enables the sharing of business data between applications and services securely with the ecosystem,” said Nguyễn Tuấn Khang, Country Manager, Software Group, IBM Vietnam. — VNS

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