Publication Type

Journal Article

Version

submittedVersion

Publication Date

5-2021

Abstract

Digital banking refers to the delivery of interactive financial services through online mechanisms which include web and mobile apps. The main barrier to digital banking for traditional banks, is the presence of legacy core banking systems. Service Oriented Architecture (SOA) is a key enabler to overcome this barrier, and a bank’s level of SOA maturity influences its time-to-market capability of delivering new innovative digital banking solutions. However, most traditional banks struggle with implementing an SOA due to a number of technology and organizational challenges, and the overall steep learning curve. This paper proposes a Digital Banking Accelerator, a “starter kit” for helping traditional banks, having little or no SOA competencies, to rapidly implement an effective SOA in order to accelerate their digital banking capability.

Keywords

Digital banking, financial technology, legacy systems, microservices, service-oriented architecture

Discipline

Databases and Information Systems

Research Areas

Information Systems and Management

Publication

IEEE Software

Volume

38

Issue

3

First Page

106

Last Page

112

ISSN

0740-7459

Identifier

10.1109/MS.2020.3029876

Publisher

Institute of Electrical and Electronics Engineers (IEEE)

Additional URL

https://doi.org/10.1109/MS.2020.3029876

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