Security Bank Accelerates Modernization of Core System’s APIs with OpenLegacy
PRINCETON, N.J. & MAKATI, Philippines–(BUSINESS WIRE)–OpenLegacy, provider of the industry’s most advanced legacy integration solution, today announced the results of its digital modernization project with Security Bank, a leading domestic universal bank in the Philippines. The modernization program, which began in late 2020, reduced time to deployment by one third, with OpenLegacy’s team averaging a complete integration every three days.
A traditional modernization route can take up to one month per API, taxing internal developers and raising costs. With OpenLegacy, Security Bank can offer digital services to market quickly and affordably, driving customer satisfaction, cutting costs, and realizing greater value of its existing mainframe investment.
“We needed to accelerate the digital transformation of our services to stay competitive. OpenLegacy modernized integration points of various mission-critical internal systems quickly to ensure our customers get the modern, digital-first experience they’ve come to expect,” said Ric Torres, Chief Technology Officer at Security Bank Corporation. “Our partnership with leading technology providers such as OpenLegacy, brings us closer to achieving our vision to be the most customer-centric bank in the Philippines.”
“OpenLegacy empowered Security Bank to efficiently build new digital services and generate business-level APIs with the ease of cloud,” said Joseph Wong, General Manager, APAC and Japan at OpenLegacy. “We are excited to continue to help them unlock core system data in a streamlined fashion.”
OpenLegacy offers a cloud-first legacy modernization platform.
OpenLegacy Hub delivers high ROI with a simple, disruption-free, method to generate, extend and manage digital services from legacy systems to the cloud. Jumpstart and optimize your modernization journey and follow it through, no matter the chosen strategy: modernizing in place (hybrid), rehosting/replatforming or even replacing and rewriting the entire application. Each can be simplified and automated to perfect the process drastically eliminating complexity, time, cost, and risk.
OpenLegacy’s robust modernization platform is designed to address the painful challenges of complexity, unique skills, and mission-critical stability that core legacy systems (such as mainframe) present in the cloud journey. OpenLegacy is used by many of the world’s leading enterprises, including Citi, Scotiabank, Liberty Mutual, DBS, and Standard Chartered, to name a few. Visit openlegacy.com
About Security Bank
Security Bank is a private domestic universal bank in the Philippines with total assets of PHP700 billion as of December 31, 2021. Established in 1951, Security Bank currently has a total of 316 branches and 663 ATMs.
Security Bank’s major citations in 2021 include: Philippines’ Best Bank by Euromoney; Best for High Net Worth Clients (HNW) in the Philippines by Asiamoney; Best Retail Bank in the Philippines by Alpha Southeast Asia; and Best Culture of Learning and Diversity Champion by LinkedIn Talent Awards.
Major awards in 2020 include: The Strongest Bank in the Philippines in 2020 by The Asian Banker; Best Bank in the Philippines for 2020 by The Lafferty Group (The Statement Magazine); and Best Retail Bank in the Philippines in 2020 by Alpha Southeast Asia.
Major awards received in 2019 include: The Best Retail Bank in the Philippines by The Asian Banker and Deposit Product of the Year–“All Access Account” by The Asian Banker; Automobile Lending Product of the Year by The Asian Banker (Philippines Awards 2019) and Deposit Product of the Year by The Asian Banker (Philippine Awards 2019); Best Bank in the Philippines by Alpha Southeast Asia and Best SME Bank in the Philippines by Alpha Southeast Asia; and Best Bank for SMEs in the Philippines by Asiamoney.
More information is available at www.securitybank.com.
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