HSBC and MuleSoft join forces to build APIs

The partnership will offer a multi-channel customer experience using APIs that will take on the capabilities of credit cards, mortgages and transactions.

This network of applications will be capable of drawing data from legacy systems to show customers their spending history across all bank accounts.

Other third parties are set to chip in on the collaboration, and would gain entry to HSBC’s backend systems, allowing development of other customer-facing services, as required under the Second Payment Services Directive (PSD2).

Incorporating MuleSoft’s API Community Manager, the emerging banking platform will aim to offer a more connected system to HSBC customers.

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Also in mind for the bank is the advanced possibility of new partnerships; systems such as the HSBC Mortgage API could be incorporated by property sites to allow their users to filter potential homes.

Dinesh Keswani, group CTO and CIO of retail digital banking at HSBC, said: “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.”

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HSBC, a bank with approximately 38 million customers worldwide, are expected to be featured in the Integration Keynote section of Dreamforce 2019 in San Francisco.

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Aaron Hurst

Aaron Hurst is Information Age's senior reporter, providing news and features around the hottest trends across the tech industry.