60 days
the entire process was completed in just 60 days
50+
over 50 APIs in production
14
14 financial products exposed via APIs
The Challenge
A stock exchange built a platform to provide infrastructure to the OTC (over the counter) market participants, providing partnering institutions digitized access to a number of financial services. It turned to Digibee to modernize and digitize this ecosystem by building a modern integration platform for its partners. They sought to facilitate the integration of companies such as banks, brokerages, and managers to the market’s legacy systems – leveraging security, speed and flexibility.
Central challenges included:
- Facilitate partner integrations from organizations with disparate legacy technologies to a centralized, proprietary platform
- Ensure security and privacy for participating financial institutions
- Avoid the need for point-to-point integrations built by scratch for every partner
“I had the option to build everything within our internal system, but it would be too time consuming and not meet our customer’s time to market.”
VP of Technology and Cyber Security
The Objective
Digibee was faced with the task to automate activities related to the proprietary partner platform. The platform was an innovative solution consisting of a network of services that automates and standardizes the exchange of information between participants. In addition, the customer wanted the solution to be up and running within a 60 day timeline.
The Plan
Digibee developed APIs that were plugged into systems, creating a new way of connecting to the OTC registration platform. The option of this solution would accelerate meeting customer demands. Additionally, to enable a completely reliable and secure environment, a double layer of authentication was developed.
How it works:
- The exchange issues a certificate for customers who wish to consume over-the-counter services
- Digibee’s product validates this certificate with a previously registered key
- The participant receives a token via device, validating issuance of the certificates
- Customers then have access to the APIs – and all the operations and assets present
The Outcome
Using agile methodology and various exchanges, the entire process was accomplished in just 60 days, from design to the start of the operation.
With speed and security, integrations with Digibee’s iPaaS solution resulted in:
- Increase in revenue and registration of new assets
- 50+ APIs in production
- Exposure via API of 14 financial products
- 2 new flows created to send contracts to and from banking institutions
