Coforge in the news: Allica builds a new digital bank

According to the Connectivity Benchmark Report 2020, less than half of IT leaders in the financial services industry say they are able to provide a completely connected experience. As a result of disconnected experiences, 51% of global consumers would consider changing their bank. Allica Bank addressed this challenge by putting their customers at the center of every interaction. The bank created highly differentiated experiences, such as delivering personalized services based on customer profiles and enabling customers to self-serve and manage finances on their own time.

To quickly create these seamless and new customer experiences, Allica Bank engaged MuleSoft professional services and consulting partner, Coforge, to implement MuleSoft’s Anypoint Platform™. Coforge built more than 300 APIs on Anypoint Platform, enabling Allica Bank to unlock and unify data across disparate systems, such as customer databases, document management systems, and business process management systems. By creating reusable building blocks as APIs, Allica Bank is able to rapidly compose new business capabilities in days or weeks instead of taking months to build from scratch with custom code. With this speed and agility, Allica Bank built its digital bank two times faster than its competitors and was granted its UK banking license in September 2019.

“Much of our success comes from our ability to work with partners who enable us to build quickly and add new capabilities on the fly,” said Simon Bateman, CIO, Allica Bank. “MuleSoft has been critical to our business strategy to collaborate with an ecosystem of partners and create new revenue channels, fast.”

Excerpt from Finance Derivative. Read the full story here.

Other useful links:

Open Banking - how APIs are fast tracking growth

Get started with MuleSoft and API-led connectivity

How to prove ROI from your API-led integration