Banking & Financial Services

Modernize core banking without disrupting the bank

OpenLegacy helps financial institutions expose mainframe and IBM i business logic as governed APIs for Open Banking, digital channels, real-time payments, digital lending, fraud and AI use cases — without rewriting the systems that run the business.

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Challenges

Regulation and Open Banking move faster than rewrites

PSD2, GDPR, CCPA, partner ecosystems, and digital banking expectations require secure API access now — not after a multi-year core replacement.

Real-time services depend on batch-era cores

Payments, lending decisions, and mobile experiences need live access to COBOL, CICS, MQ, DB2, VSAM, IMS, and IBM i assets that still run the ledger.

Fraud, AI, and cost pressure need governed modernization

AI models and fraud detection need trustworthy operational data, while MIPS and middleware costs keep rising when integration work stays custom.

How we help

OL Integration: expose core logic as APIs

Turn programs, transactions, databases, messaging systems, and 3270/5250 terminal-screen journeys into modern APIs, events, and services for digital banking channels and partners.

OL Integration exposing COBOL and CICS as APIs
OL Integration exposes COBOL and CICS assets as governed APIs.

OL Hub: govern modernization in phases

Use a shared control plane for identity, access control, API keys, licensing, AI, MCP, and deployment across SaaS or unified OnPrem environments.

OL Hub phased modernization control plane
OL Hub provides the control plane for phased banking modernization.

API Integration: build an Open Banking API factory

Create contract-first REST APIs, Kafka and IBM MQ events, SOAP, serverless endpoints, RPC flow methods, and terminal Screens Flow methods without starting each integration from zero.

Governed APIs from core banking systems
Governed APIs connect core banking systems to modern consumers.

Legacy–Modern Coexistence: move one domain at a time

Run legacy and modern side by side with inbound System APIs, outbound Reverse APIs from COBOL or RPG to HTTP services, screen-to-RPC conversion, and controlled routing during decoupling.

Legacy Data APIs: unlock operational data for AI and fraud

Expose DB2, VSAM, IMS, datasets, and catalog metadata as secure System and Data APIs so developers, analysts, and agents can access data without green-screen extracts.

OL CoreIQ: discover, test, and publish host assets

Explore programs, transactions, databases, files, queues, jobs, and operational resources close to the source, then generate secure System APIs and Data APIs.

OL DataIQ: operationalize enterprise data

Use schema exploration, query execution, API generation, replication support, and data movement across mainframe, IBM i, and distributed databases.

Modernize Banking and Financial Services Without Disruption

Read the modernization playbook for Open Banking, real-time payments, digital lending, fraud and AI enablement, and MIPS reduction without rip-and-replace.

Hub-led modernization: Analyze, Plan, Execute

Analyze

Identify the core banking logic, screens, data, and transactions that digital channels need most.

Plan

Prioritize APIs, data services, coexistence paths, and governance so modernization advances safely in phases.

Execute

Generate and operate governed APIs and events while the mainframe or IBM i remains the system of record.

Proof from financial institutions

10x faster API delivery
60% cost reduction
Zero rewrites of core systems
5 minutes Bank Leumi API creation
8 APIs for Bank Leumi
100% compliance for Bank Leumi
20x Banorte improvement
+30% Banorte impact
2x Banorte MIPS reduction

OpenLegacy has supported modernization initiatives for Bank Leumi, Banorte, and Citi by exposing core assets as governed services while reducing disruption to critical banking operations.

Ready to modernize financial services without disruption?

See how OL Integration can expose your core banking systems as secure, governed APIs for Open Banking, digital channels, real-time payments, lending, fraud, and AI.

Request a Demo