CBA announces availabillity of IBAS GBF in the cloud

By Megha Bhattacharya

Norwegian software vendor Commercial Banking Applications (CBA) today announced that its IBAS Global Banking Factory is now available to customers on a SaaS model in the cloud. IBAS GBF has been deployed in the cloud on Amazon Web Services for customers in the trade finance space.

CBA’s IBAS platform supports RESTful APIs, allowing banks to interface to other systems and share information in real-time, not only between the front and back-office systems but also directly with the banks’ customers on relevant portal platforms.

“In the Open Banking era, banks need to be ready to compete and also collaborate with nimble FinTech players as part of a fully-connected ecosystem. Quite simply: if a bank is not ready to offer RESTful API services they will fall behind as they won’t be able to adapt and integrate new products and services fast enough,” explained Rolf Hauge, CEO of CBA.

“Our IBAS platform already offers a library of RESTful API operations covering the relevant transaction types and business events across the payments and trade finance lifecycles. We’re making it very easy for banks to integrate other third-party solutions as part of their offering and provide a seamless service to clients through corporate portals.”

The company stated that the microservices-based architecture of the IBAS platform employs reusable components to define products and workflows. This means that when an individual component is updated, all instances of the same component can be automatically updated throughout the IBAS system without any need to re-write source code.