CASE STUDY
Tata Consultancy Services Embeds WSO2 Technology Through Its Software OEM Program for the Banking Services Bureau Platform
Product Area
API Management, Identity and Access Management
Region
Middle East
Industry
Financial Services
Overview
Tata Consultancy Services serves as a full stakeholder in business, providing a consulting-led strategy together with an integrated portfolio of technology-driven solutions that span the whole enterprise value chain. Their customer-centric engagement model outlines how they interact with customers, including specialized services and solutions tailored to specific business needs.
The company assembles bespoke teams based on a customer's domain and technology requirements from a talent pool of over 509,058 worldwide professionals, 36.2% of whom are women representing 155 different nationalities. Their domain expertise is based on decades of experience working in a variety of sectors, and it is this knowledge that supports their solution suite.
* About WSO2 Software OEM Program
Independent Software Vendors (ISVs) can use industry-leading, battle-tested API management, integration, and identity and access management components through the WSO2 Software OEM Program to white-label and integrate them into their own product or solution. The solution's overall value proposition is accelerated by the offering's facilitation of custom commercials with re-distribution licenses, ability to leverage domain and product expertise, savings in time, money, and hassle when developing software components internally, and extensible and flexible integration capabilities.
Learn moreChallenge
The contract to establish the Banking Software Service Bureau (BSSB) in Israel, based on the TCS BaNCS platform, was awarded to Tata Consultancy Services (TCS). This platform enables banking customers to be onboarded and conduct their banking operations by providing IT hardware, software infrastructure, and operational services.
The Banking Service Bureau was created by the Ministry of Finance and Bank of Israel to boost competition in the banking sector and lower the cost of banking services. The expense of establishing technological infrastructure is one of the impediments to the foundation of a new bank and its continued operation. The Banking Service Bureau's mission is to lessen the entry barrier to the banking market by providing computerized services to new banks and Deposit and Credit Associations.
The Banking Services Bureau platform provides services such as customer onboarding, current accounts, savings, and loans. The TCS BaNCS platform and additional supporting software systems from other vendors are used to provide the services. It was critical to provide customers with a secure, reliable API access platform with strong security and authentication mechanisms. API grouping and subscription management, API security, and API usage analytics were key functionalities sought after by the customer. Strong and adaptive authentication was facilitated with the WSO2 Identity and Access Management solution enhancing the value of the overall offering. The API platform along with the highly secure identity and access management capabilities were expected to serve the bank's digital channels.
Solution
For all services exposed from the Banking Service Bureau, WSO2 delivers a uniform API Management platform. OAuth-based security is implemented for access from the bank’s digital channels. Access to these APIs is controlled at the application level. Digital channel APIs are grouped and managed separately on the API Management platform. WSO2's API Manager facilitated the accelerated digital transformation of the bank in creating interoperability through APIs, supported by advanced API security and observability capabilities.
WSO2 API Manager fully automates the API lifecycle, ensuring minimal manual work while API security-related requirements are efficiently met by WSO2 Identity Server. To handle requests from the bank's digital channels separate WSO2 API Gateway components are implemented.
WSO2’s Identity Server provides the security component for the mobile banking platform adhering to security standards, guidelines, and best practices. TCS BaNCS banking solution serves as the foundation for Banking Service Bureau. Other financial software solutions from other vendors are included, as well as custom-built microservices for the platform.
Results
WSO2 was adopted because of its open architecture, support for open standards, and open source availability of its core components. WSO2 solutions also support the hosting of both regulated and non-regulated APIs on the same platform. For different sets of components, the licensing approach is flexible, enabling both core-based and transaction-based licensing. WSO2 has also adapted well to shifting requirements with emerging architecture patterns such as microservices architecture.
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