HSBC leverages MuleSoft’s platform to build digital banking platform

MuleSoft, provider of the leading platform for building application networks, announced that HSBC is leveraging MuleSoft's Anypoint Platform to build a digital banking platform to power the bank of the future. As one of the largest banking and financial services organizations in the world, HSBC is taking advantage of open banking to drive new, connected experiences for its more than 38 million customers worldwide. With MuleSoft and its Anypoint API Community Manager, HSBC is building APIs that securely unlock access to core banking products to enable collaboration with partners, accelerate innovation and open new revenue channels.

The rise of PSD2 requirements and open banking are requiring financial institutions to share customer data with third-party developers via APIs. Connected customer experiences have become the new battleground. Banks are going through a revolution where they must move from transactions to personalized interactions and digital services for customers. HSBC is leveraging an API strategy to develop a digital platform and co-create new experiences with a broader ecosystem of developers and partners.

"HSBC is driving incredible innovation in the era of open banking through API-led connectivity," said Dinesh Keswani, group CTO and CIO of retail digital banking, HSBC. "We are moving to serving customers across multiple online and offline channels. With MuleSoft, HSBC has built thousands of APIs in an application network and deployed them across multiple environments to deliver new and consistent experiences. We've been able to reduce our app development time by 75% and release new functionality to consumers every two weeks versus once a quarter."

HSBC realized that the bank of the future will be a digital platform, powered by a collection of APIs that enable truly connected, multi-channel experiences. The bank chose MuleSoft and its API-led approach to connectivity to develop a shared services platform for secure asset reuse and business self-service. HSBC was able to turn its core banking products, including credit cards, mortgages, and payments, into APIs in an application network that can be easily and quickly assembled to create new experiences.